The global digital marketing spending market is expected to grow at a CAGR of 9% in the forecast period of (2016-2020). It is the fastest growing marketing technique. Most of this market growth can be attributed to rapid digitalization trends.
A rapid increase in the use of smartphones and cheap internet services are expected to contribute to the propelling of the market growth. Many companies plan to spend nearly 80% of their advertizing expenditure on digital marketing.
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Digital marketing helps track and monitor the results of the spending on the efforts taken for digital marketing. This type of marketing allows the product or business to go global. The company can also view their customer’s response to their marketing campaigning in real-time. These qualities are expected to drive market growth in the coming years.
Leading digital marketing platforms comprise of Google, Facebook, Twitter, YouTube, and LinkedIn. Every minute, approximately 185 million e-mails are sent, more than 505,000 comments and 701,000 status updates are posted on Facebook, over 655,000 search queries are raised per minute on Google, nearly 725 videos are posted on YouTube, and around 75,000 tweets are tweeted globally.
Customer engagement is much higher in digital market campaigns as opposed to marketing strategies. Therefore, many marketers are rapidly adopting this type of marketing in their enterprises.
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Data fraud and cyber crimes can hamper market growth in the coming years. However, cloud security and premium security services can keep secure the customer and the company. The market is split into types and geographies.
On the basis of types, the digital marketing spending market is segmented into search ads display ads, email marketing, search ads, and display ads. Search ads segment held total market shares exceeding 35%, in 2015. It is expected to retain being the largest market segment during the forecast period.
Asia Pacific, Americas, Europe, and the Middle East & Africa (MEA) are the regional segmentations. Americas is likely to be accountable for over 45% of total market shares till 2020. Brands have a greater chance of capitalizing through advertisements due to the availability of a larger target audience.
Key global competitors in digital marketing spending market are Johnson & Johnson, AT&T, P&G, L’Oreal, and General Motors.
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