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Annual worldwide spending on marketing continues to increase and will reach $4.7 trillion by 2025, according to a Forrester report. This is an increase of $1.1 trillion from 2021 to 2025, a compound annual growth rate (CAGR) of 7% — substantially above the 5% CAGR from 2015 to 2019.
The biggest spenders. Most of that spending comes from the US and China. They accounted for 53% of the spend in 2021 and are expected to drive 73% of dollar growth between now and 2025.
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Other key findings:
Why we care. This once again underlines the accelerated shift to digital marketing. Fueled by the change in pandemic-driven changes in consumer behavior, it has been embraced by companies because the ROI is easier to measure. It also shows marketing is much more important to businesses in the world’s two largest economies than to those in the rest of the world.
Dig deeper: E-commerce spending broke holiday records in 2021
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