Digital Advertising Growth (2022–2027)
Global digital ad spend is forecast to be $667.6 billion in 2024, representing 68.9% of media ad spend. This indicates that more than two-thirds of the total expenditure on media advertising is expected to be allocated toward digital ads.
Recent trends show a significant increase in digital advertising expenditures. The forecast for 2024 reflects a $161.2 billion increase from 2021, and experts anticipate this growth trend will for at least three more years. Here’s a breakdown of digital advertising growth worldwide.
Growth of digital advertising: 2022–2024
|
Year |
Annual digital advertising growth rate |
|---|---|
|
2022 |
9.1% |
|
2023 |
10.7% |
|
2024 |
13.2% |
|
2025 |
11.0% |
|
2026 |
9.8% |
|
2027 |
9.2% |
According to a recent report, expenditure on digital ads is set to rise by 13.2% in 2024. This refers to ads seen on desktops, laptops, mobile phones, tablets, and other devices with the capability to access the internet.
This forecast marks an upward revision from an earlier one, which had estimated 2024’s digital advertising growth at a slower 10.9%. The revised figures show that this year’s rise is expected to be the largest within the 2022 to 2027 forecast period, marking the second consecutive year digital advertising growth rates are set to be in the double digits.
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For context, in 2022, digital advertising growth was recorded at 9.1%, as total spending reached $549.5 billion. The following year, it increased by 1.6 percentage points, to hit an annual growth rate of 10.7%.
Growth of digital advertising: 2025–2027 forecast
Industry analysts expect digital advertising growth to continue every year until at least 2027, albeit at slower rates. In 2025, expenditure is forecast to slow slightly, to 11%, before falling to 9.8% in 2026.
In 2027, digital ad spend is set to rise by 9.2% year on year, to around $870.9 billion, constituting nearly three-quarters of total media ad spend.
Digital advertising market growth: top 10 countries
The growth in digital ad spend worldwide comes as no surprise, as more and more people shop online and global ecommerce sales rise year after year. But which countries are increasing their online ad expenditure the most?
|
Country |
Annual digital advertising growth in 2023 |
|---|---|
|
1. Peru |
+20.0% |
|
2. Argentina |
+19.2% |
|
3. Chile |
+17.0% |
|
4. India |
+16.5% |
|
5. Colombia |
+16.0% |
|
6. Mexico |
+14.5% |
|
7. Russia |
+13.3% |
|
8. Indonesia |
+12.1% |
|
9. United States |
+12.0% |
|
10. Turkey |
+12.0% |
According to the latest digital advertising market growth numbers, Peru sits at the top of the list is Peru, as its digital ad spend increased by 20% in 2023. This is followed by Argentina, with 19.2%, and Chile, with 17%. India and Colombia round out the top five, with digital advertising growth rates of 16.5% and 16%, respectively.
Another Latin American country, Mexico, follows in sixth place. Last year, Mexico’s digital advertising expenditure growth rate rose by 14.5%. Russia ranks next, with 13.3%, followed by Indonesia, with 12.1%. Turkey and the United States, the country with the highest digital ad spend, complete the top 10, after increasing their digital ad spend by 12% in 2023.