The forecast: B2B tech products and services, the largest sector of B2B advertising, saw a massive boost in the US as the pandemic increased demand across the tech industry. After achieving 50.3% growth in 2020 over 2019, growth will slow, but ad spending in this sector will still reach nearly $3.5 billion by year end 2021.
Looking ahead: Tech products and services B2B ad spend will continue to grow, though not at the same mammoth rates we saw in 2020. By 2023 growth will slow to 15.9% over the previous year and hit $4.74 billion. Healthcare B2B ad spend growth will slow as well and hit $1.35 billion in 2023.