Full Service Digital Marketing Agencies Market Trends

Growth Drivers

• Higher Adoption of Full-Service Digital Marketing in the Pharmaceutical Sector – Digital advertising in the pharmaceutical industry is one of the simplest ways to connect prospects and advertise pharmaceutical goods and services because the healthcare sector is expanding online on a massive scale. In the upcoming years, the market is expected to expand due to factors like the expanding awareness of digital advertising among pharmaceutical companies, supported by the numerous advantages associated with the advertising method, such as cost-effectiveness and scalability, as well as the expanding pharmaceutical industry. For instance, according to IBEF, by 2030, the Indian pharmaceutical industry is projected to reach USD 130 billion.

• The Increasing Number of Internet Users– The growing adoption of mobile devices like smartphones to access the Internet is supporting the expansion of full-service digital marketing agencies in emerging economies. The services provided by these full-service digital marketing agencies provide an easy portal for companies to reach their customers to get acquainted with digital transformation. The effectiveness of ad and marketing efforts will be positively impacted by their speed and relevancy as smartphone data collecting and processing technology, as well speed of the internet continues to advance. According to the World Bank, in China, 73% of the population had internet access in 2021.
• Increasing Strategic Investment Within Full Service Digital Marketing Agencies –Full-service digital marketing agencies invest available funds to develop corporate plans and to provide a safety net in case their business has ups or downs. For instance, in October 2021, Click Here Digital collaborated with Clavis Capital Partners and Dobbs Management Services. This partnership is expected to accelerate Click Here Digital’s growth initiatives and assist in an increase in the company's operational capacity.

Challenges

• Privacy and Security Concerns Hinder The Market Growth - Email is one of the most popular methods used by cybercriminals to gather information and harm those who use the internet, though. Since advertisers themselves frequently use email, they are also at risk from these attacks. In February 2022, a phishing attempt resulted in the theft of NFTs (non-fungible tokens) valued at USD 1.7 million, underlining the importance of phishing education and awareness. Many businesses indicate that phishing attacks have increased since the pandemic's beginning.
• Customer Relationship Management Software and Malware Attacks
• Lack Of Research for the Target Audience