[eMarketer] LinkedIn will capture nearly 25% of US B2B ad spending by 2024
US B2B display ad spending on LinkedIn will total $3.01 billion in 2022 and grow to $4.56 billion by 2024. By then, LinkedIn will capture nearly 25% of all B2B digital ad dollars spent in the US.
LinkedIn’s B2B display ad revenues will account for 21.0% of total US B2B digital ad spending in 2022. In addition, LinkedIn will account for 44.0% of all US B2B display ad spending; that share will increase to nearly 50% in 2024.
B2B display ad spending on LinkedIn will continue to grow. LinkedIn’s strength as a digital platform increased during the pandemic with ad spending growth in the US peaking in 2021 at 58.6% YoY. When all interactions went 100% virtual, LinkedIn became the place to be. The platform provided an excellent way to connect professionals, attract talent, and support remote selling.
As a result, LinkedIn will continue to be a large part of B2B marketing budgets; B2B ad spending on the platform will grow 29.7% YoY in 2022, slowing to 21.9% in 2024. By then, LinkedIn’s ad revenues will grow 22.5% YoY, the fourth highest rate for US social media platforms, behind only TikTok, Snapchat, and Reddit.
According to eMarketer, the definition of digital ad spending includes social media spending, such as spending on LinkedIn. This is contributing to the faster growth rate of B2B digital ad spending over traditional ad spending.