Digital Marketing Expected to Surge
Destination CRM, Tuesday, April 2nd, 2024
Worldwide spending on digital marketing is expected to grow by $353.53 billion through 2028, at a compound annual growth rate of 8.8 percent, according to research firm Technavio.
The market, which encompasses the search engine marketing, social media marketing, content marketing, email marketing, and mobile marketing that enable businesses to target specific audiences, measure results, and optimize strategies in real time, is surging due to the shift to online shopping driven by increased internet penetration, smartphone usage, and lifestyle changes, Technavio reported.
Real-time measurement tools, CRM software, and artificial intelligence technology are key investments for businesses engaging with consumers via digital channels like SMS, social media, and search advertising, according to the firm, which noted a particularly strong surge in industries like financial services, education, telecom, media, and entertainment.