U.S. advertisers will spend $4.61 billion on Amazon's platforms this year, making the company the third most popular digital advertising destination behind Facebook Inc. (FB) and Alphabet Inc. (GOOGL) .
Amazon has overtaken Verizon Communication Inc.'s (VZ) Oath for the No. 3 spot in the U.S.
Amazon's share of the digital advertising market will account for 4.1% of all digital ad spending in the U.S., according to industry observer eMarketer. The firm said it expects Amazon to increase ad revenue more than 50% annually through at least 2020 when the company will be the destination for about 7% of the country's digital ad spend.
While Amazon is making strides and garnering a larger amount of the ad revenue pie, Google and Facebook by far dominate the space, currently accounting for a combined 57.7% of the market.
EMarketer expects Facebook to account for 20.8% of the market by 2020 and Google to account for 35.1%.