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US digital ad spend growth will return to double digits next year at 11.2%, following this year’s 7.8%, according to our forecast. Growth certainly won’t go back to the 37.6% we saw in 2021, but it will increase steadily. Come 2025, US digital ad spend will pass $300 billion and keep climbing to nearly $400 billion by the end of 2027.

Beyond the chart: Most digital ad revenues will go to Alphabet ($78.86 billion), Meta ($51.35 billion), and Amazon ($33.96 billion). Traditional media ad spend, comprising TV, radio, out-of-home, and print, will shrink this year as marketers move more online than ever.

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Methodology: Estimates are based on the analysis of various elements related to the ad spending market, including macro-level economic conditions, historical trends of the advertising market, historical trends of each medium in relation to other media, reported revenues from major ad publishers, estimates from other research firms, data from benchmark sources, consumer media consumption trends, consumer device usage trends, and eMarketer interviews with executives at ad agencies, brands, media publishers, and other industry leaders