Anyone still in any doubt as to the dominance of the US tech giants in the global digital ad market need look no further than the latest figures which reveal that, in the past year alone, 60% of the $680bn (£536bn) brands spent went to Google, Meta, and Amazon.
And, according to data presented by Stocklytics.com, since 2019, a whopping $3 trillion (£2.4 trillion) has been spent on digital ads worldwide, helping the largest players in the market, Google, Facebook, and Amazon, to more than double their revenues.
Even so, while Google remains the king of the digital advertising landscape, the tech giant’s revenue share has actually dropped.
According to Statista and the official Alphabet data, in 2019, Google grossed $134.8bn (£106.5bn) from digital ads, making 36% of total market revenue that year.
Meta’s $69.6bn (£55bn) revenue made up 19% of the market’s total that year, while Amazon followed with $12.6bn (£9.96bn) and a 3.4% share.
However, things have changed since then, with Amazon seeing the biggest market share growth, practically doubling in the past five years. In 2023, the tech giant grossed almost $47bn from digital ads, nearly four times more than in 2019. Its revenue share jumped from 3.4% to 6.9% in this period.
Meta’s market share remained unchanged, making 19% of global digital advertising revenue. Still, last year, the company grossed almost $132bn (£104bn) from advertising, the highest figure in its history and more than double the figure reported in 2019.
Together, the three tech giants grossed $416.6bn (£330bn) from advertising in 2023, or almost $200bn (£158bn) more than they did five years ago.
Besides beating Google and Meta in ad revenue growth so far, Amazon is also expected to continue having the strongest growth momentum in the following years.
According to a Statista survey, Amazon’s advertising revenue is expected to jump by an impressive 60% and hit $70.8bn (£56bn) by 2027. This figure is even more remarkable when compared to Google’s and Meta’s revenue projections. Statistics show Amazon will see twice as much revenue growth as Google and eight times more than Meta in the next four years.
Google’s advertising revenue is forecasted to jump by 35% and hit $340.1bn (£269bn) by 2027, while Meta is far below this figure, with a 7% growth and $127.2bn (£101bn) ad revenue by 2027.
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