Global digital ad expenditure will reach $601.84 billion this year, up 9.5% from $549.51 billion in 2022, reported Insider Intelligence/eMarketer.
Total global media ad spend will reach $897.26 billion in 2023, a 5.8% increase over last year.
Even while advertising in North America and Western Europe struggles, the Asia-Pacific market has bolstered digital ad spend, according to the report.
Digital ad spending now makes up around 67% of total ad spend and is predicted to reach nearly 74% by 2027.
Ariel Ben Solomon is the Growth and Strategy manager at Ecomhunt. He is the host of the Ecomhunt Podcast. Can be followed on Twitter at @ArielBenSolomon
