US digital ad spending has entered a new phase of slower growth, which is reflected in all ten industries we track in our annual industry ad spending forecast. However, some industries are outpacing the national trendlines.

Key Question: Which US industries will spend the most on digital advertising this year and next, and which will grow spending the fastest?

KEY STAT: The retail industry will spend more on digital advertising in 2023 than the five lowest spending industries combined. Retail will also post the second fastest growth rate this year, cementing its status at the top of the pyramid.