The digital marketing services category is expected to grow at a CAGR of 13% from 2023 to 2030. North America is expected to remain the industry’s dominant regional market. During the projected period, the region is anticipated to contribute between 38% and 42% of the total digital marketing cost. The vast target audience in the North American region motivates the major players and brands to market and promote their content, goods, and services online, which in turn propels the expansion of the digital marketing industry. According to projections, there will be more options for marketers to market their items online as a result of the growing number of online shoppers in North America. This will accelerate the expansion of the local market.
To maintain their competitiveness and meet the changing needs of businesses, suppliers in the category of digital marketing services have adopted a number of actions. These actions involve making investments in cutting-edge technology such as social media marketing, machine learning, and artificial intelligence. Companies are also continuously focusing on collaborating or developing their own technology. For instance,
• In April 2022, leading IT firm Infosys acquired Oddity, a digital marketing firm based in Germany. The acquisition of Oddity boosted Infosys’s capacity for innovative brands and experience design.
• In January 2022, Smith, a digital commerce agency, acquired a digital marketing company Adept, based in Columbus, Ohio. The acquisition enabled Smith to offer a wider range of services and solutions to its clients, and it strengthened its position as a global leader in digital marketing.
Order your copy of the Digital Marketing Services Procurement Intelligence Report, 2023 – 2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
The retail & e-commerce segment dominated the global digital marketing market share in 2022 and is anticipated to continue doing so in the following years due to fierce competition amongst smaller companies in that segment with bigger organizations to stay relevant and competitive in the market. Different retailers are improving their digital marketing tactics to increase consumer awareness of their brands and increase traffic to their e-commerce websites.
Digital Marketing Services Sourcing Intelligence Highlights
• The global digital marketing services category is fragmented, with the presence of several players in the market. Suppliers in digital marketing services invest in AI, machine learning, and social media marketing, and engage in strategic collaboration to stay competitive and meet evolving business needs.
• Staffing, tools and software, media buying, content creation, campaign management, and testing/optimization efforts form the most significant cost component in category implementation.
• The project’s scope, complexity, target audience, desired outcomes, and time frame significantly influence the costs.
Browse through Grand View Research’s collection of procurement intelligence studies:
• Digital Payment Services Procurement Intelligence Report, 2023 – 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
• IT Services Outsourcing Procurement Intelligence Report, 2023 – 2030 (Revenue Forecast, Supplier Ranking & Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement & Operating Model, Competitive Landscape)
List of Key Suppliers
• Accenture Interactive
• PwC Digital Services
• IBM iX
• Dentsu International
• iProspect
• WebFX
• Facebook Inc
• Google Inc
• IAC/InterActiveCorp
• Noble Studios
Digital Marketing Services Procurement Intelligence Report Scope
• Digital marketing services Category Growth Rate: CAGR of 13% from 2023 to 2030
• Pricing Growth Outlook: 4% – 5%
• Pricing Models: Subscription-based, value-based, and flat rate pricing model
• Supplier Selection Scope: Cost and pricing, past engagements, productivity, geographical presence
• Supplier Selection Criteria: SEO and PPC Services, social media marketing, content marketing, customizations, analytics and reporting, operational capabilities, quality measures, technology, certifications, regulatory compliance, and others
• Report Coverage: Revenue forecast, supplier ranking, supplier positioning matrix, emerging technology, pricing models, cost structure, competitive landscape, growth factors, trends, engagement, and operating model
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
