Advertising will grow to a $548.2 billion globally this year, up by $23 billion or 4.4 percent compared with 2015, according to Carat, the Dentsu Aegis-owned media agency.
The growth is primarily being pushed by digital, which will jump far higher than the rest of the marketplace, seeing a year-over-year lift of nearly 16 percent, per Carat's forecast. The agency, which looked at 59 markets across continents, also predicted that digital advertising will see a year-over-year boost of 14 percent in 2017.
In the United States alone, digital will reach $168.2 billion next year, Carat said, driven by increasing demand for mobile, online video and social media. It concluded that the digital space will account for 30.2 percent of the marketplace in 2017.
The general positive outlook for 2016, said Carat, can be attributed to a bevy of high-interest media events, such as the recent Olympics and Paralympics as well as the upcoming U.S. presidential election.
Carat's report summary can be found here.