Programmatic advertising is a rapidly growing market because its automation reduces human efforts in digital advertising. Market Research Future (MRFR) has published and released a research report about the global programmatic advertising market that anticipates excessive enlargement for this market with 22% CAGR (Compound Annual Growth Rate) during the forecast period between 2017 and 2023. Analyzing the market structure, this report evaluates the future growth potential of the market. It observes the strategies of the key players in the market and follows the competitive developments like joint ventures, new product developments, mergers and acquisitions, research and developments (R & D) in the market.
The global programmatic advertising market has been segmented on the basis of ad formats, device, end users, and lastly region. Based on ad formats, this market has been segmented into desktop banners, desktop videos, mobile banners, and mobile videos. The device-based segmentation segments the market into desktops and mobiles. On the basis of end users, the market has been segmented into education, finance, media & entertainment, retail, and travel.
The regional segmentation of the global programmatic advertising market has segmented the market into continent-based regional markets namely Asia Pacific, North America, Europe, and the rest of the world (RoW). According to the report, North America holds the lion‘s share in the global market. Due to technological advancement and surplus production, North America is a big market for various goods and services. The most important country-specific markets in North America are the United States of America (USA) and Canada. Many key players in this market are also based in the USA. In North America, the majority population actively uses smart mobile devices and social media platforms. Due to good internet facilities, online purchases are popular in North America.
Europe has a high density of population and some strong economies like France, Germany, and the United Kingdom (UK) that make it a lucrative market. The growth of the European market has been anticipated on the basis of various factors, the major one being the presence of several key market players in. During the forecast period, Asia Pacific has been expected to emerge as the fastest growing market. In this region, mobile videos have been projected to contribute faster growth of revenue backed by video advertising in countries such as China, India, and Japan. However, the market growth can hit breaks in some Asian countries because some regions are not fully equipped with internet and the sufficient IT infrastructure capable of aiding e-commerce industry. With many countries still being cash-based economies, China, India, and Japan remain top choices for e-commerce industry and market.
Chief Factors Boosting the Market Growth
People everywhere are almost addicted to their phones and carry them constantly throughout the day, and at night, keep them besides their beds. Mobile phones are anticipated to give rise to a substantial opportunity for the programmatic advertising market. With the rapid growth in the mobile market, mobile advertising can garner immense traction backed by the mounting demand for highly advanced technology. Mobiles are gradually replacing desktops and are being called the first screen programmatic technology, rapidly making its way into mobile phones. The emergence of the latest ways as well as tools that help monitor and measure the required data on mobile devices is leading to great prospects for programmatic mobile video. For instance, at present, Facebook is playing an important role in the growth of mobile programmatic.
Almost every industry sector around the world is wholeheartedly embracing digitalization and is continually adopting digital technologies as well as devices to bring about advancements in business processes and also give rise to revenue generating opportunities. This rising adoption of digital devices among clients as well as their customers in order to share data amongst each other creates a solid platform for programmatic advertising and leads to significant market growth all over the world.
Increasing popularity of social media services is a crucial growth booster in the programmatic advertising market. Almost every prominent social platform today offers a variety of programmatic advertising options. Programmatic offers a host of benefits via social media channels since the marketers are able to run highly effective campaigns with automated buying and reach the target audience with relevant messages using social media. For instance, Red Bull targets videos using the Twitter feeds of those individuals that have viewed extreme sports sites. This platform helps the marketers bid on the influencer ads in a programmatic way and that too in real time. The marketers are then able to buy the influencers’ content on their blog pages, websites as well as social media pages.
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