Market Research Future published a half-cooked research report on “Global Programmatic Advertising Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
Rubicon Project, Adroll, Adobe Marketing Cloud, DoubleClick, Choozle, AdReady, DataXu, Centro, PulsePoint and Outbrain are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Market of Programmatic Advertising.
Programmatic Advertising Global Market – Overview
The Global Programmatic Advertising Market is growing with the rapid pace; mainly due to the technological advancements. According to a recent study report published by the Market Research Future, the global Programmatic Advertising Market is expected to gain prominence over the forecast period owing to the cost-effective benefits it offers. The global Programmatic Advertising market is forecasted to demonstrate a momentous growth by 2023, surpassing its previous growth records in terms of value with a staggering double digit CAGR during the anticipated period (2017 – 2023). The global programmatic advertising market is expected to grow at approx. USD 150 Billion by 2023, at 22% of CAGR between 2017 and 2023.
Programmatic Advertising is more focused and therefore relevant; leading to more efficient buying. By using technology and data to automate media buying, it becomes easier and cost effective for a brand to reach its target audience. The Market is mainly driven by the growing popularity of social media services. Nowadays, options of Programmatic Advertising are available on almost all the major social platforms. Programmatic Advertising offers a numerous benefits through social media channels as the marketers run more effective campaigns through automated buying and by reaching a precise viewer with appropriate messages through social media. The platform enables marketers to bid on influencer ads programmatically in real time and buy influencers’ branded content on their websites or social media pages.
However Programmatic Advertising is also witnessing some puzzling challenges. The fact ads are bought programmatically targeting audiences based on demographics and behaviour means brands do not always know where and when they are appearing. Programmatic Advertising allows auto publishing of ads due to which sometimes ads get published on hate sites or next to an inappropriate VDO created by fanatics irrespective of the brand’s reputation.
Programmatic Advertising Global Market – Competitive Analysis Characterised by the presence of several well-established and small players, the global Market of Programmatic Advertising appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. Vendors are focusing on improving their market performance and are expanding by acquiring promising companies in the fast-growing markets.
Marketers employ a continuous improvement strategy to analyse and update products, implementing improvements and launching new technologies to meet the changing needs of consumer. Marketers operating in the Programmatic advertising market are educating themselves on its intricacies and work closely with their media agencies to sustain their market position.
Programmatic Advertising Market – Segments
Currently desktop banners segment by device is generating highest revenue as compared to others. But due to increasing use of mobile phones, banner ads are decreasing and mobile videos are gaining traction. During the forecast period, mobile videos will witness rapid growth and will grow at highest CAGR.
Programmatic Advertising Market – Regional Analysis
North America is estimated to account for the largest share of the market, whereas Asia-Pacific is projected to grow at the fastest rate during the forecast period. During the forecast period, North America region will continue to dominate the market share owing to rapid growth smartphone users and increasing population on social media platforms.
In the global programmatic advertising market, Asia Pacific is anticipated to witness relatively faster adoption as compared to other regions and hence the growth rate will be higher. Within Asia Pacific, mobile videos are projected to contribute faster growth of revenue backed by video advertising in countries such as Japan, China and India. The major restraining factor in Asia-Pacific market is lack of awareness and knowledge. Not many regions are fully equipped with high end infrastructure and lack of the knowledge about digital media and online selling are the factors causing hindrance in the growth of programmatic advertising market.
Across Europe, countries like Germany, France and the UK are anticipated to drive the growth of programmatic advertising market. In Europe, the presence of several market players in the field of video advertising is the major factor for the growth of programmatic advertising market in that region.
Programmatic advertising market in the South America region is anticipated to witness relatively slower market growth. However, Brazil and Argentina among other countries are projected to witness slow yet steady growth.
Enterprise Content Management Market is expected to grow at approximately USD 80 Billion by 2023, at 17% of CAGR between 2017 and 2023.
Source: Market Research Future