Digital Marketing Industry Will Rise as of Increasing Investments in Online Video and Mobile Advertising During 2020 – 2027 | Grand View Research, Inc.
Procurement Outlook
Digital marketing involves the marketing of products and services through channels such as social media, SEO, email, and mobile apps. It spans across a massive network of digital touchpoints that customers interact with during their day-to-day life. The services of digital marketing can be categorized into the following segments:
- Paid search: Also known as pay-per-click (PPC) advertising, typically refers to the sponsored result on the top or side of a search engine results page (SERP).
- Search engine optimization (SEO): It is the process of optimizing content, technical setup, and reach of users’ websites so that their pages appear at the top of a search engine result for a specific set of keyword terms.
- Content marketing: It serves to educate and inspire consumers, seeking information.
- Social media marketing: This method uses social media as a tool to advertise a product or service.
- Email marketing: It is more personalized advertising than social media.
Demand Outlook
The global digital marketing market was valued at ~USD320 billion in 2020 and it is expected to grow at a CAGR of 14-16% from 2020 to 2027. Increasing investments in online video and mobile advertising are driving the spending of the digital marketing industry. The expenditure on mobile advertisements, which once accounted for nearly ~15% of total digital spending in 2015, accounts for about 39–42% of the digital spending in 2020. North America is leading the global digital marketing market with more than 35% of the total digital marketing expenditure during the forecast period. The global retail & consumer goods industry is the largest end-user segment of the digital marketing industry with more than 30% of the overall industry spend.
Grab your copy, or request for a free sample of the “Digital Marketing Industry Procurement Intelligence Report, published by Grand View Research” for In-depth details regarding supplier ranking and selection, sourcing, and pricing criteria & strategies.
Cost Drivers
The cost of digital marketing is solely depending on the size of a business. A business needs to analyze its financial capabilities and define clear objectives before implementing a digital marketing strategy. Digital marketing costs are varied based on the type of service. For instance, search engine optimization for a small and medium-sized company costs around USD 500-1,000 per month. Whereas, the same activity for a global organization can cost more than USD 20,000. Similarly, the procurement cost is different for email marketing, website design, social media marketing, etc. Typically, a digital marketing service provider offers bundled services to their customers.
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
Browse through Grand View Research’s collection of procurement intelligence studies:
- Casting, Forging and Stamping Industry Procurement Intelligence – The global metal casting, forging and stamping market as estimated at USD 397 billion in 2020. The market is projected to grow at a CAGR of 5.1%. The automotive sector and the aviation sector are two of the major consumers of casting forging and stamping industries and the growing demand for EVs is leading to new and innovative requirements for metals and light metal stamping and cast parts. With the requirement for lightweight metal stamping, die casting of auto parts are also on the rise. This is fueling the demand from casting, forging, and stamping industry. On the other hand, COVID protocols have put a limitation on air travel. Hence demand from the aviation industry, both from new production as well as from a replacement perspective has significantly reduced. However, the demand is expected to improve during the period of forecast.
- Video Post-Production Service Market Procurement Intelligence – The global video post-production services market is valued at USD12 billion in 2020 and it is expected to grow at a CAGR of 8% from 2020 to 2025 due to the rising adoption of OTT platforms and an increasing number of content creators preferring OTT platforms for their new releases. North America (38%) is the largest region of video post-production services market in 2020 followed by Europe (36%) and APAC (19%). Based on types, promotional videos is the largest segment in the video post-production market.
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