Digital advertising is a global market of eye-watering proportions. No wonder – the internet is often likened to a rabbit hole, giving advertisers ample opportunities to target potential customers with timely, personalized ads. The global market for digital ads was estimated to be at nearly $563.4 billion in 2021 and BCC Research expects it to expand to a whopping $1.3 trillion by 2027.
Unlike traditional advertising mediums like television, radio, and print, digital advertising is an ever-changing, fast-paced world. Results come quickly and with minimal investment, which, for businesses, makes digital advertising seem like an increasingly good idea.
It’s a large and rapidly evolving market, but which players are coming out on top? BCC Research has ranked the top 5 companies in digital advertising, with product offerings and revenues of impressive sizes.
The five leading players in digital advertising
It’s little surprise that the well-known tech giants are topping the list. Technology powerhouses like Google and Meta have been more than capable of leaping into the data revolution, making them well-placed to dominate the digital advertising space.
- Alphabet/Google
Ranked by BCC Research as the leading company in digital advertising is none other than Alphabet, the holding company of Google. The company’s key offerings include Google Search, Google Ads, YouTube, Google Cloud, Google Maps, Google Play, and Google AdMob, earning Alphabet revenues of $257.64 billion in 2021.
In January 2023, Google revealed the Privacy Virtual world initiative, a collaboration with the advertising business to develop a more private internet. In February 2023, Google Ads introduced the new Search Ads 360. Through this newly developed platform, more data will be managed and processed than ever before.
- Meta
At number two is Facebook’s parent company Meta. With an impressive product offering spanning Facebook, Messenger, Instagram, WhatsApp, and Quest, Meta boasts considerable advertising prowess. Through a single campaign, businesses can reach potential customers on all of Meta’s apps and websites. It checks out that Meta’s digital advertising revenues amounted to $1,17,929 million in 2021.
Meta recently announced that, from February 2023, advertisers on Instagram and Facebook will not be able to see a user’s gender and the posts they make for advertising purposes. Instead, they will only have access to the user’s age and location.
