Advertising expenditure world-wide projected to hit a staggering $1.07 trillion
The global advertising market is set to witness significant growth over the next few years, according to a report by WARC. The market is expected to increase by 10.5% this year, reaching $1.07 trillion, and continue growing at a steady pace, with a projected increase of 7.2% in 2025 and 7.0% in 2026, bringing the market to a total of $1.23 trillion.
Digital platforms are expected to dominate the global advertising landscape for the next decade and beyond, with the largest players in the global ad spend expected to be the digital giants Google, Facebook (Meta), Amazon, and YouTube. These three companies are anticipated to account for 43.6% of global ad spend in 2024, according to WARC's report.
The report also highlights the emergence of new, diverse players in ad selling, such as Uber and Chase, underscoring the value of first party data. The use of first party data, combined with new AI enhancements, is expected to form the fabric of the advertising industry going forward.
In terms of regional growth, North America's ad spend is forecast to grow by 8.6% to $347.5 billion. Europe's ad spend is also projected to increase by 5.0% to reach $164.9 billion.
The fastest-growing consumer sectors for next year are Technology & Electronics (+13.2%), Alcoholic Drinks (+12.2%), and Clothing & Accessories (+11.1%). Notably, US political spend alone is expected to reach $15.8 billion.
Retail media, social media, and Connected TV (CTV) are leading the digital growth in the global ad market. James McDonald, Director of Data, Intelligence, and Forecasting at WARC, commented that retail media is expected to lead ad spend growth over the coming years.
The full report can be found on WARC's website, providing a comprehensive overview of the global advertising market and its future trends.
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