October 9, 2020
According to eMarketer forecast US B2B businesses will spend $8.14 billion on digital ads in 2020 (22.6% more than 2019). At the same time total digital ad spending in the US will grow only by 1.7% to $134.66 billion. The US B2B healthcare sector is the fastest-growing B2B digital ad market, jumping 41.2% this year over 2019. The tech products and services category will spend $2.41 billion on digital media, a 37.2% i...ncrease from 2019. The financial services sector will spend $2.20 billion on digital ads, a growth rate of 28.0%. Telecom is also on the rise having increased to 28.3% from 2019. The B2B travel sector is the only category that will shrink this year. Digital travel ad spending will fall by 44.5% in 2020 ($304.9 million vs $549.7 million in 2019). Common B2B ad spending this year will be $21.42 billion. It will be 9.6% less than 2019 ($23.71 billion), after 10.8% growth last year. This big decline is driven by paused investment in traditional media, such as TV, radio, print and out-of-home, as well as abandoned plans to use traditional advertising to promote large-scale industry conferences. eMarketer predicts the market to recover with a 20.4% increase to $25.79 billion in 2021, when B2B companies start increasing their spending and events will resume.