Amazon's (NASDAQ: AMZN) $36 billion advertising business could still get a lot bigger. While the overall advertising industry struggles, marketers are looking to the efficient spending opportunities retail media networks provide. Analysts expect ad spend through online retailers to grow 25.8% to 28.4% next year, and the market could reach $100 billion in the U.S. alone by 2026. And Amazon is the dominant force in the market.

As ad spend shifts to retailers, Amazon's ad business could double its revenue again in just a few short years.

Despite its size, Amazon is still one of the fastest-growing digital advertising companies. Amazon's ad sales increased 25% year over year last quarter. The only two companies selling more advertising -- Alphabet and Meta Platforms -- grew ad revenue by 2.5% and -3.7%, respectively, during the same period.

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Source Fool.com