A new study by Fact.MR, a market research and competitive intelligence provider, reveals that the global digital marketing market is worth US$ 321 billion in 2022 and is predicted to expand rapidly at a CAGR of 10.7% during the forecast years of 2022-2032. The market is being majorly driven by the growing e-Commerce sector and increasing spending on digital advertising by businesses across the world.
Digital marketing is a modern way to interact with customers regarding brand awareness, generating lead pipelines, and targeting the right audience. With increasing penetration of the Internet and smart devices, the market has gained immense popularity and has captured a large customer base for specific products and generating adequate sales for enterprises.
Digital marketing services have increased significantly post-COVID. In 2021, digital marketing accounted for 43% of global advertisement spending as it has become a crucial part of the advertising industry. As such, the growth of the advertising industry is somewhat directly proportional to the revenue growth of the digital advertising services market.
Get to Know More (and source): https://www.factmr.com/report/digital-marketing-market