Latin America Digital Advertising Market Size, Growth, Trends, and Analysis Report to 2025

Market Overview

The Latin America digital advertising market size was USD 37,540.70 Million in 2024. It is forecasted to reach USD 164,186.20 Million by 2033, growing at a CAGR of 15.90% during 2025-2033. The market growth is driven by high smartphone penetration and expanding internet access, with mobile advertising leading due to strong social media engagement and e-commerce growth. Brands adopting mobile-first strategies and innovative technologies are further fueling market growth across the region.

Study Assumption Years

• Base Year: 2024

• Historical Years: 2019-2024

• Forecast Years: 2025-2033

Latin America Digital Advertising Market Key Takeaways

• The market size reached USD 37,540.70 Million in 2024.

• The market is projected to grow at a CAGR of 15.90% from 2025 to 2033.

• The forecast period for the market is 2025-2033.

• Increasing in-game advertising embeds promotional content seamlessly within games, enhancing engagement without disrupting user experience.

• The rapid expansion of e-commerce, notably in Brazil, which is growing at 14.3% and expected to exceed US$200 billion by 2026, fuels digital advertising.

• Consumers in Brazil heavily use social media platforms such as Instagram (67%), YouTube (51%), Facebook (37%), and TikTok (13%) for product searches.

• Popular marketplaces like Mercado Libre and Amazon are expanding their regional presence, enhancing digital advertising opportunities.

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Market Growth Factors

Rapid smartphone adoption, with increased internet penetration, has driven huge growth in the Latin American digital advertising market. In 2024, the LATAM digital advertising market was valued at USD 37,540.70 Million and is projected to grow to USD 164,186.20 Million by 2033 with 15.90% CAGR over the next 9 years. The combination of high social media engagement and emerging e-commerce markets with the rise of mobile advertising has created conditions for brands to adopt mobile-first strategies with new technology.

Another growth area is in-game advertising. Advertisements can be used as part of the game world to create an engaging experience and can provide an interactive experience that other mediums do not afford. For example, Stagwell partnered with in-game ad platform Anzu in June 2024 to test new ad placement opportunities on various platforms to reach the growing gaming population.

The COVID-19 pandemic has further increased the e-commerce growth in Latin America with a strong impact on the digital advertising industry. This growth in e-commerce is also present in Brazil with an annual growth rate of 14.3% and with the projected e-commerce revenue of more than US$200 billion before 2026. With shoppers accessing social networks as their preferred point of product research, digital marketplace platforms such as Mercado Libre and Amazon have become a key outlet for brands and product placement, and help serve to build a virtuous cycle of visibility, making e-commerce an important advertising channel in the region.

Market Segmentation

Platform Insights: Computer, Smartphone, Others

• The market categorizes platforms into computer, smartphone, and others, with a detailed analysis provided for each to understand market dynamics.

Format Insights: Text, Image, Video, Others

• Formats include text, image, video, and others, representing diverse advertising content types analyzed in the market report.

Offering Insights: Solution, Services

• The market segments offerings into solutions and services, detailing the role of each in the digital advertising ecosystem.

Type Insights: Search Advertising, Banner Advertising, Video Advertising, Social Media Advertising, Native Advertising, Interstitial Advertising

• Types cover various advertising methods, including search, banner, video, social media, native, and interstitial advertising.

End User Insights: BFSI, Automotive, IT and Telecommunication, Healthcare, Consumer Electronics, Retail, Media and Entertainment, Education, Others

• End users span diverse industries such as BFSI, automotive, IT and telecom, healthcare, consumer electronics, retail, media and entertainment, education, and others.

Regional Insights

Brazil is highlighted as a major regional market alongside Mexico, Argentina, Colombia, Chile, Peru, and others. Brazil exhibits significant e-commerce growth at 14.3%, expected to surpass US$200 billion by 2026, greatly contributing to the digital advertising market expansion in the region. This dominance is reinforced by high consumer engagement on social platforms used for product discovery.

Recent Developments & News

In April 2024, Vistar Media partnered with PRODOOH to introduce programmatic DOOH advertising in Latin America, starting with Mexico and Brazil and aiming to expand further. This partnership aims to transform outdoor advertising with better audience targeting and measurement.

In March 2023, Publicis expanded its Latin America presence by acquiring Argentina-based Practia via its digital arm Sapient. This move supports the fast digital transformation in the region and aims to bolster client support across nine countries for both Latin and North America.

Key Players

• Vistar Media

• PRODOOH

• Publicis

• Practia

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