According to our July 2021 forecast, 2023 will be a pivotal year for the US B2B digital ad market as spending approaches $15 billion. By then, the seismic transformation spurred by the pandemic will be permanent.
Will the pandemic have a lasting impact on how US B2Bs allocate ad budgets?
Last year, US B2B pivoted from in-person channels to digital ads to reach audiences. In 2021, the growth in digital ad spending will be even greater than we originally estimated, indicating the shift to digital isn’t slowing down. Digital ads will also remain a more prevalent part of the B2B media mix in the coming years.
How much will US B2Bs spend on display ads this year?
US B2Bs will spend $5.09 billion on display advertising in 2021, up 32.6% from 2020 when $3.84 billion was allocated to this format, according to our first-ever estimate for this breakout.
How much do US B2Bs spend on LinkedIn display?
LinkedIn makes up the largest share of US B2B display in 2021 with 32.2% of the $5.09 billion that will be spent on B2B display this year. We estimate US B2B LinkedIn display ad revenues will be $1.64 billion in the US, growing 27.1% from 2020 when $1.29 billion was spent on LinkedIn B2B display.
How much do US B2Bs spend on search ads?
In 2021, US B2Bs will spend $5.36 billion on search ads, more than what will be allocated to display. But search’s growth rate isn’t as strong: It will increase by 19.5% from 2020.
What industries drive the most US B2B digital ad spend?
In 2021, tech products and services will be the largest category by far, accounting for 32% of the market. Financial services will be the second biggest industry, making up a quarter of ad spending.
WHAT’S IN THIS REPORT? This report details the most important market shifts in our July 2021 forecast for US B2B advertising. It also includes new estimates for B2B display and search ad spend.
KEY STAT: The US B2B digital ad market grew 32.5% in 2020 and will grow 24.9% this year for nearly $11 billion in spending, according to our July 2021 estimates.
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