Meta and Alphabet have lost ground in the digital market in the United States after many years of market leadership, due to strong competition from companies such as Amazon, TikTok, Microsoft and Apple, according to CNBC Arabia.
Projections are that Meta and Alphabet’s share of digital ad revenue in the US market will drop 2.5% to 48.4% this year, marking the first time the two companies haven’t gained a significant share since 2014.
Moreover, this data will represent the fifth consecutive decline in the share of these two companies in the digital market from the peak recorded in 2017 at 54.7%, and the figure is expected to reach 43.9% in 2024.
Globally, Meta and Alphabet’s share of the digital market decreased by 1% to 49.5% in 2022.
Competition is increasing between technology companies to get the largest share of the digital cake, which is worth about $ 300 billion, but these companies are suffering due to high interest rates and inflation, which made them cut costs. Donate.