The market has grown by 23.8% to a total value of $771 billion this year.
According to WARC data, the global advertising market is expected to reach $1 trillion in 2025, with more than half of this money going to Alphabet, Meta and Amazon. Additionally, advertising investment is set to rise by 12.5% in 2022 and 8.3% in 2023.
About 66% of advertising professionals plan on stepping up ad spend on TikTok in 2022, followed by YouTube (61%), Instagram (60%) and Google (57%). In terms of fastest-growing sector in 2021, social media leads all sectors with a 41.9% growth to reach $188.8 billion this year.
Instagram is expected to control over a third of the global social media market in 2023. OTT is also projected to grow at 19.7% and 14.2% in 2022 and 2023, respectively. When it comes to paid search, Google is expected to grow at 14.8% in 2022.
[6 minute read]
