Meta and Alphabet have lost ground in the US digital advertising market after many years of market leadership, due to stiff competition from companies like Amazon, TikTok, Microsoft and Apple, according to CNBC Arabia.
Projections are that Meta and Alphabet’s share of digital ad revenue in the US market will drop from 2.5% to 48.4% this year, marking the first time the two companies have not gained a significant share since 2014. .
In addition, this data will represent the fifth consecutive decline in these two companies’ share of the digital advertising market since its peak of 54.7% in 2017, and the figure is expected to reach 43.9% in 2024.
Globally, Meta and Alphabet’s digital advertising market share decreased by 1% to 49.5% in 2022.
Competition is mounting among tech companies for the largest share of the digital advertising pie, which is worth an estimated $300 billion, but these companies are suffering from high interest rates and inflation, which have forced them to cut costs. To donate.
