Programmatic Advertising Market Size 2023: It’s a Virtual World and Ads Are Ruling the Roost
Programmatic Advertising Market Size
Introduction to Programmatic Advertising
Programmatic advertising is sailing relentlessly on a disruptive ride backed by the latest technologies such as machine learning, artificial intelligence, digital OOH and voice search gaining the attention of advertisers. The promised push from 5G to programmatic advertising, the marketers are on the lookout for anything in the space that can benefit them in the near future.
By far, programmatic advertising is considered to be the most vital component of advertising technology. It is helping the whole adtech fraternity detect any aspect that can gain traction in the next few years. It is expected to be the default media trading technique in the advertising world.
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.
Latest Trends in the Programmable Advertising Market
Artificial Intelligence and Machine Learning
Artificial Intelligence (AI) as well as Machine Learning (ML) help sift through massive volumes of data in real time to understand the patterns, anticipate the outcomes and take the best action to the customers that can help them move head in their buying journey. In addition to the scale and speed that AI offers to the marketing process to make it more effective, it also brings along with it the intelligence that no human can match with at that level of scale as well as speed.
Marketers make use of AI to understand the customer behavior in real-time dependent on various data aspects such as age, gender, previous history preferences, location, platform, device, and more. AI also helps map out the entire user data using ad viewing metrics such as where or when the ad is played, what the duration is, among other things. The AI technology helps analyze the buyer patterns effectively and then puts the ads accordingly. This helps boost the overall ad effectiveness, and brings down the cost of customer acquisition.
More Information@
Global Programmatic Advertising Market Research Report- Forecast 2023 | MRFR
Global Programmatic Advertising Market is estimated to grow at a CAGR of 22% by Forecast to 2023,…
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