The advertising industry in North America has undergone a fundamental digital overhaul in the past few years in order to meet the rapid changes in consumer demand and behavior. Fueled by rising internet penetration and an insatiable demand for online media content, marketers across the continent now direct larger budgets towards digital channels and platforms than ever. In 2022,
increased by nine percent and reached an estimated 262 billion U.S. dollars. By 2027, this figure is set to surpass 400 billion, with the United States being the main driver of growth.
United States
The United States is the
largest digital advertising market in North America by a significant margin. Based on the latest projections, marketers in the U.S. will spend more than 271 billion U.S. dollars on digital ads in 2023. This sum would translate into a 93-percent share of total digital ad investments in the region. But which formats are advertisers focusing their time and budgets on? As of 2023, search advertising remains the
leading digital ad format in the U.S., followed by video. Other accelerators of spending growth throughout most of North America are mobile and social media. As smartphone adoption and social media app usage continue to soar, brands are devoting larger shares of their budgets toward handheld screens.
Canada
Canada has one of the highest online penetration rates worldwide. Seeing that online users are also spending much more time on the internet than with any other traditional media or entertainment format, it is no surprise that advertisers have started to follow suit. In 2022,
internet advertising revenue in Canada reached an all-time high of 14.17 billion Canadian dollars, earning the country a spot among the world’s largest digital ad markets. Nearly 73 percent of all advertising expenses in the country currently flow toward digital channels, and even though the United States’ northern neighbor only accounts for a small share of investments in North America,
Canada’s advertising industry is on an irrevocably digital path.
Mexico
Mexico is catching up to its digitally mature North American neighbors. For a long time, TV was the primary beneficiary of ad expenditures in the country. 2019 was the first year when internet advertising attracted more investments than TV. Two years later, digital exceeded 50 percent of the
Mexican ad market value. In 2023, Mexican advertisers were expected to boost their digital ad investments by over 14 percent, putting Mexico among ten
fastest-growing digital advertising markets worldwide. This impressive upward trend in spending also runs through many other Latin American markets, including Peru, Argentina, and Chile.
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