We recently reviewed the advertising forecasts from nine different analyst firms to get a consensus on the size and growth of digital advertising over the next few years. What we found was that the growth rate of total digital advertising spending continues to decline. The estimated growth rate for 2020 ranged from 7% to 17%, with an overall average of 11.5%. This rate is down 23% from 2019’s growth rate of 15% and 40% below 2018’s growth rate of 19%. While the growth rate is projected to fall to single-digit levels in the coming years, digital advertising spending will still be only about 55% of the overall advertising spend in 2020. The estimated spend on digital advertising in 2020 is $136 billion.

We think there is still a lot of room for double-digit growth and are predicting that there will be double-digit growth for at least the next couple of years. We’ll see if these other firms adjust their forecasts.