Amazon Ad revenue in the US projected to double to US$30bn by 2023

8th May 2021

TradingPlatforms.com has projected that Amazon’s advertisement revenue will reach US$30bn by 2023, almost double from $15.73bn in 2020.

The online education and comparison platform for online traders, TradingPlatforms.com, has shared its projections for Amazon’s ad revenue, and the increase is considerable. In 2020, Amazon’s ad revenue increased from an estimated US$10.31bn in 2019 to $15.73bn, marking a 52.5% year on year increase. It is expected that Amazon will surpass the $20bn mark before the end of 2021.

According to the platform, Amazon is also projected to surpass the 20% share mark of all US ad search spending by the end of 2022. A large percentage of Amazon’s entire ad business is in e-commerce and channel advertising, totalling an estimated 89%. The remainder of its ad business draws its revenue from its video platforms and off-property ads sold through Amazon Delivery Service Program (DSP.) To date, 76.2% of the $24bn eCommerce channel market is controlled by Amazon as it continues to lead the advert format is created. The second-largest share belonged to Walmart, which accounts for just 6.5%.

READ MORE: 

Rex Pascual, Editor at TradingPlatforms.com, commented; “Consumer behaviour was already trending towards the digital world but 2020’s pandemic expedited this trend even more. E-commerce has become the new normal and Amazon is poised to benefit greatly from the pending digital future that lies ahead. Investments such as its recently announced partnership with the NFL put the E-commerce giants in a strong position for significant growth in the digital world.”

Near, far, wherever they are: How IT will meet the need of the hybrid workforce
Trending
Near, far, wherever they are: How IT will meet the need of the hybrid workforce

 For more news from Top Business Tech, don’t forget to subscribe to our daily bulletin!

Follow us on LinkedIn and Twitter

We think you'll like:

Amber Donovan-Stevens

Amber is a Content Editor at Top Business Tech

How E-commerce Marketers Can Win Black Friday

Sue Azari • 11th November 2024

As new global eCommerce players expand their influence across both European and US markets, traditional brands are navigating a rapidly shifting landscape. These fast-growing Asian platforms have gained traction by offering ultra-low prices, rapid product turnarounds, heavy investment in paid user acquisition, and leveraging viral social media trends to create demand almost in real-time. This...

Why microgrids are big news

Craig Tropea • 31st October 2024

As the world continues its march towards a greener future, businesses, communities, and individuals alike are all increasingly turning towards renewable energy sources to power their operations. What is most interesting, though, is how many of them are taking the pro-active position of researching, selecting, and implementing their preferred solutions without the assistance of traditional...

Is automation the silver bullet for customer retention?

Carter Busse • 22nd October 2024

CX innovation has accelerated rapidly since 2020, as business and consumer expectations evolved dramatically during the Covid-19 pandemic. Now, finding the best way to engage and respond to customers has become a top business priority and a key business challenge. Not only do customers expect the highest standard, but companies are prioritising superb CX to...

Automated Testing Tools and Their Impact on Software Quality

Natalia Yanchii • 09th October 2024

Test automation refers to using specialized software tools and frameworks to automate the execution of test cases, thereby reducing the time and effort required for manual testing. This approach ensures that automation tests run quickly and consistently, allowing development teams to identify and resolve defects more effectively. Test automation provides greater accuracy by eliminating human...

Custom Software Development

Natalia Yanchii • 04th October 2024

There is a wide performance gap between industry-leading companies and other market players. What helps these top businesses outperform their competitors? McKinsey & Company researchers are confident that these are digital technologies and custom software solutions. Nearly 70% of the top performers develop their proprietary products to differentiate themselves from competitors and drive growth. As...

The Impact of Test Automation on Software Quality

Natalia Yanchii • 04th October 2024

Software systems have become highly complex now, with multiple interconnected components, diverse user interfaces, and business logic. To ensure quality, QA engineers thoroughly test these systems through either automated or manual testing. At Testlum, we met many software development teams who were pressured to deliver new features and updates at a faster pace. The manual...