Digital marketing market is set to reach $460 billion by this year: Study

New Ideas in MarketingEssential news for marketers, summarised by YouGov
March 09, 2022, 3:28 AM GMT+0

Short video content is the best-performing segment of digital marketing, with automated email marketing also poised to take the centre stage within internet marketing.

Data from Beroe projects the digital marketing market will reach $460 Billion by 2022. With pandemic-induced curbs on traditional marketing fuelling rapid growth in the digital marketing space, the market size had already reached $300 to 400 billion in 2021. The study found the digital marketing market is primarily driven by FMCG, retail and CPG segments.

Additionally, automation, AI, neuro language programming will play crucial roles in enhancing operational efficiency, minimizing task redundancies, enhancing real-time analysis and SEO. Virtual reality and augmented reality tools are also expected to contribute $75 billion to the internet marketing service sector.

Brands have also recorded a 20% increase in return viewers and a 90% growth in average time spent on advertisement in the social media space. The study also indicates that marketing spend will continue shifting to the social space in 2022. 

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