Digital marketers spend more than $1 trillion a year on digital marketing, and that money is fueling the digital economy, according to a new study.
The study by marketing analytics firm eMarketer, published this week, is the latest in a string of research projects that have found the digital advertising business is becoming an ever more lucrative business.
But, experts say, the real payoff is the increased income, especially for marketers with deep pockets.
“There’s really a huge opportunity to invest in digital,” said Robert Gagnon, eMarketers senior vice president of research.
“And it’s growing at a pretty impressive rate.”
Digital marketing is booming, but that doesn’t mean there’s enough money for everyone.
Even those who don’t spend as much online have an incentive to buy digital.
EMarketer found that the average American spends more than 3.4 hours a day on online marketing, up from 3.1 hours in the year before the study.
About half of those spend more on digital ads, compared with 45 percent in 2015.
About two-thirds of digital marketers are spending at least 20 percent of their budgets on digital.
That’s up from about half of digital marketing in 2015, but it’s still a fraction of what it was just a few years ago.
Some experts say it’s hard to measure the impact of digital advertising because the industry is so new.
Experts say digital advertising is the fastest-growing segment of the advertising business, and digital advertising will account for more than half of the $20 billion spent on digital in 2019.
It’s a new era of digital, and advertisers are trying to figure out how to capitalize on it.
Digital marketing, eLearning and online education are becoming more important, said Gagnons study, and the industry needs to embrace both.
Digital ads are now a way for marketers to reach the digital community, Gagnson said.
“They are the new and the old,” he said.
Advertisers will likely be looking for new ways to monetize their digital audience.
The digital advertising market is expected to grow to $1.5 trillion by 2019, up nearly 17 percent from $1 billion in 2019, according, according eMarkets research.
Digital ad revenue has grown 20 percent in the last three years, with digital ad spending on television, mobile and print, according the report.
The number of digital advertisers is expected grow from less than 10 percent in 2019 to nearly 15 percent by 2019. More: