There are different factors that the consumers have been considering for the marketing of their product, along with creating awareness about it. It was forecasted to grow at a CAGR of 12.8 per cent to reach about $330- $340 billion by 2020. The global digital marketing spend was valued at $290- $310 billion in 2019, with the future having a much stronger suit due to the continual attraction on every digital channel. For its part, the online market research space has seen an increase of 40 per cent to 50 per cent, while traditional market research only contributed to 24 per cent of the entire research sector.īeroe, which is based in North Carolina, further stated that procurement experts can access this report on its recently launched AI-enabled market intelligence platform Beroe LiVE.Ai: On the contrary, the global marketing services, on a traditional level, slipped 30 per cent on an average as compared to the previous year.

28, 2021 /PRNewswire/ - The COVID-19 pandemic did not dampen advertisers' enthusiasm for popular social media channels such as Twitter, YouTube, and Instagram, as global digital marketing spend in 2020 is forecasted to have reached $330-340 billion, a CAGR of nearly 13 percent.ĭigital marketing and advertising have almost replaced the traditional form of advertising as marketers focused more on digital campaigns to generate greater brand awareness, according to Beroe Inc, the world's leading provider of procurement intelligence and supplier compliance solutions.

Digital activations 2020