Digital Advertising Growth (2021–2027)
Global digital ad spend is forecast to be $667.6 billion in 2024, representing 68.9% of media ad spend. In other words, more than two-thirds of the total expenditure on media advertising is expected to be on digital ads.
The data shows that annual spending on digital ads has risen in recent years. 2024’s expenditure is set to be $161.2 billion more than the expenditure in 2021, and experts predict this will continue to rise for at least three more years. Here’s a breakdown of digital advertising growth worldwide.
Growth of digital advertising: 2021–2024
According to a recent report, expenditure on digital ads is set to rise by 10.9% in 2024, registering the fastest and first double-digit growth in three years. This refers to ads that are seen on desktops, laptops, mobile phones, tablets, and other devices with the capability to access the internet.
In 2023, digital advertising growth is expected at 9.5%, as spending surpasses $600 billion for the first time. It also marks a one percentage point increase from the previous year’s 8.5%. The biggest digital advertising market growth in recent years came in 2021, when spending surged by 29.8%.
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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 10%, before falling to 9.2% in 2026.
In 2027, digital ad spend is set to rise by 8.6% year on year, to $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 expected to increase their online ad expenditure the most?
At the top of the list is Peru, as its digital ad spend is set to increase 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.
Here are the other five on the list:
- Mexico: 14.5%
- Russia: 13.3%
- Indonesia: 12.1%
- United States: 12%
- Turkey: 12%