https://martechseries.com/predictive-ai/ai-platforms-machine-learning/digital-marketing-market-to-be-valued-at-460-billion-by-2022-says-beroe-inc/
With the recent surge on e-commerce buying as a result of the pandemic, a companies' focus on digital marketing has continued to increase. This increase has been seen across all channels, whether it be emails, paid spend, organic, etc. It was estimated that the market size was $300-$400BN in 2021 - but into 2022, the forecast for this amount has now increased to $460BN. While many believe the market will stabilize to some degree, the fundamental changes that companies have gone through will be tough to stray away from, resulting in a continued re-investment into this part of the business.
While I do think this growth will continue, I do think the stabilization will be higher than this article might suggest. Businesses will continue to pivot into online marketing but I do think as people start going back out and spending time at retail this focus will partially subside in the short-term. With that being said, however, as the younger generation continues to age and become a bigger part of the market, the reliance on this part of marketing will continue to grow in importance as the online channels are predominately where most in this generation access their news, influence, and interests.
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