New York, Oct. 24, 2023 (GLOBE NEWSWIRE) — The global full-service digital marketing agencies market size is predicted to expand at ~ 9.34% CAGR between 2023 and 2035. The market is projected to garner a revenue of USD 906.8 billion by the end of 2035, up from a revenue of ~USD 287 billion in the year 2022.The demand for full-service digital marketing services is growing owing to the rising use of different OTT platforms and the high generation of content on social media by influencers. The Digital marketing agencies are supporting these influencers by giving them good exposure to digital media. Moreover, increasing preference for full digital marketing services in several emerging new businesses in developing countries is driving the growth of the market.
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The full-service digital marketing agency market has experienced significant growth in recent years due to the increasing importance of digital marketing in today’s business landscape. As consumers spend more time online, businesses have recognized the need to have a strong digital presence and engage with their target audience effectively. Full-service digital marketing agencies play a crucial role in helping businesses navigate the complexities of the digital marketing ecosystem. Full-service agencies optimize a client’s website and content to improve its visibility in search engine results pages (SERPs), driving organic traffic and improving online discoverability.
Increasing Adoption of Full-Service Digital Marketing to Boost Market Growth
Digital advertising in the pharmaceutical industry is one of the simplest ways to connect prospects and advertise pharmaceutical goods and services because the healthcare sector is expanding online on a massive scale. In the upcoming years, the full-service digital marketing agency market market is expected to expand due to factors like the expanding awareness of digital advertising among pharmaceutical companies, supported by the numerous advantages associated with the advertising method, such as cost-effectiveness and scalability, as well as the expanding pharmaceutical industry. The growing adoption of mobile devices like smartphones to access the Internet is supporting the expansion of full-service digital marketing agencies in emerging economies. The services provided by these full-service digital marketing agencies provide an easy portal for companies to reach their customers to get acquainted with digital transformation. The effectiveness of ad and marketing efforts will be positively impacted by their speed and relevancy as smartphone data collecting and processing technology, as well speed of the internet continues to advance. According to the World Bank, in China, 73% of the population had internet access in 2021. Full-service digital marketing agencies invest available funds to develop corporate plans and to provide a safety net in case their business has ups or downs.
Full-Service Digital Marketing Agencies Market: Regional Overview
The market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Expanding Data-Driven Marketing to Drive Market Growth in the North American Region
The full-service digital marketing agencies market in the North American region is estimated to garner the largest revenue by the end of 2035. The rapid pace of digital transformation across industries compels businesses to seek the expertise of full-service digital marketing agencies to establish and strengthen their online presence. The urgency of digital transformation has driven companies to seek full-service agencies that can help them navigate the complexities of the digital landscape and execute strategies effectively. The surge in e-commerce and online shopping has heightened the need for digital marketing services to help businesses stand out in the highly competitive online marketplace. As more consumers turn to online shopping, businesses require comprehensive digital marketing strategies to drive traffic, conversions, and customer retention. The increasing reliance on data analytics and insights drives demand for agencies that can effectively collect, analyze, and leverage data for informed marketing decisions. A survey found that 86% of surveyed organizations consider data analytics essential for their business strategy.
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Surging Digital Adoption to Propel Growth in the Asia Pacific Region
The Asia Pacific full-service digital marketing agencies market is estimated to garner the highest CAGR by the end of 2035. The rapid adoption of digital technologies and the internet in the Asia Pacific region is creating a strong demand for full-service digital marketing agencies to help businesses establish a strong online presence. According to a report, as of January 2021, there were 2.8 billion internet users in Asia, with a penetration rate of 51%. As more people in the Asia Pacific embrace digital platforms, businesses are recognizing the need for comprehensive digital marketing strategies to reach and engage their target audience effectively. The growth of e-commerce in the region is driving businesses to invest in digital marketing services to stand out in the competitive online marketplace. The surge in online shopping necessitates robust digital marketing strategies to attract and retain customers, resulting in a growing demand for digital marketing agencies. The high prevalence of mobile device usage in the Asia Pacific region underscores the importance of mobile optimization and mobile marketing, prompting businesses to seek mobile-focused digital marketing expertise.
Full-Service Digital Marketing Agencies, Segmentation by Service
- Search Engine Optimization
- Social Media Marketing
- Content Marketing
- Email Marketing
- Search Engine Marketing
- Affiliate Marketing
Amongst these segments, the social media marketing segment in full-service digital marketing agencies market is anticipated to hold the largest share over the forecast period. The widespread adoption of social media platforms globally has created an extensive audience reach, compelling businesses to invest in social media marketing. As of January 2021, there were over 4.2 billion active social media users worldwide. The sheer number of social media users presents an unprecedented opportunity for businesses to connect with their target audience, driving the demand for social media marketing services. The integration of e-commerce features within social media platforms has led to a surge in social commerce, prompting businesses to leverage social media marketing for sales and lead generation. The convergence of social media and e-commerce provides businesses with a direct channel for selling products and services, making social media marketing crucial for revenue generation. The rise of influencer marketing on social media platforms has created opportunities for businesses to collaborate with influencers and amplify their brand message. Influencers have substantial reach and engagement on social media, making influencer marketing a powerful strategy for businesses to enhance their online presence.
Full-Service Digital Marketing Agencies, Segmentation by End User
- Media & Entertainment
- IT & Telecommunications
- Retail and E-commerce
Amongst these segments, the media & entertainment segment in full-service digital marketing agencies market is anticipated to hold a significant share over the forecast period. Digital Marketing Agencies play an important part in media and entertainment since they promote and advertise companies or films via social media or search engines to attract final consumers. One of the instances of digital marketing services that agencies typically focus on for media and entertainment is video content. Thus, branding and promoting businesses or films through social media influencers also play a part. Factors such as the increasing need for web content management will aid media and entertainment market growth. For instance, according to the India Brand Equity Foundation, the media and entertainment industry in India grew at 19.9% in 2022 and the industry is expected to reach USD 53.99 billion by 2026. Furthermore, according to the International Trade Administration, U.S. Department of Commerce, the. media and entertainment sector in the United States is the largest across the globe at USD 660 billion owing to the presence of major players offering streaming services and subscriptions for digital media.
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A few of the well-known industry leaders in the full-service digital marketing agencies market that are profiled by Research Nester are WebFX, Cuker, Disruptive Advertising, SEO Brand, Bird Marketing Limited, Parrot Creative Limited, AMP, TopSpot Internet Marketing, Intero Digital, Ready North, and other key market players.
Recent Development in the Full-Service Digital Marketing Agencies Market
- Ready North collaborated with Brightfind to offer a full-service digital experience solution for member-based organizations. The two companies will offer augmented services in the form of custom and full-service marketing projects that would transcend traditional web design and digital marketing.
- WebFX announced the acquisition of Nutshell, a CRM (Customer Relationship Management) and email marketing platform that enables B2B (business-to-business) organizations to collaborate more effectively to close more business. Nutshell’s acquisition addresses a critical requirement for small and medium businesses focused on revenue creation.
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