Programmatic Display Advertising Market Segment
The growth in demand for easily accessible and shorter forms of entertainment and media is positively impacting the market growth.
PORTLAND, PORTLAND, OR, UNITED STATES, November 2, 2023 /EINPresswire.com/ — According to the report published by Allied Market Research, the global programmatic display advertising market generated $451.3 billion in 2021, and is estimated to reach $9473.3 billion by 2031, witnessing a CAGR of 35.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
Programmatic display advertising refers to the deployment of automated equipment for the purchase and sale of desktop display, video, and mobile adverts through real-time bidding Moreover, with the help of programmatic display advertising services, businesses can target specific audiences and demographics by utilizing key indicators based on audience preferences. Targeted advertising campaigns are powered by algorithms and software. Programmatic display advertising is regarded as a time-saving strategy since it reduces the work required to make transactions, set prices, and other operational capabilities.
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The rise in demand for work-from-home and remote working policies during the period of the COVID-19 pandemic boosted the growth of social media and online platforms, which in turn, catalyzed the demand for programmatic display advertising solutions. Region-wise, North America is likely to maintain its dominance in terms of revenue during the forecast period. The market witnessed a positive growth rate during the pandemic.
Key factors that drive the growth of the programmatic display advertising market include surge in demand for work-from-home and remote working policies during the period of the COVID-19 pandemic, which fueled screen time of individuals staying at homes, hence empowering the demand for internet advertising and programmatic display advertising solutions during the period. Moreover, the growth in demand for easily accessible and shorter forms of entertainment and media is positively impacting the growth of the programmatic display advertising market. However, data privacy and sharing challenges on programmatic display advertising platforms can hamper the programmatic display advertising market growth. On the contrary, the integration of advanced tools such as machine learning and data analytics with programmatic display advertising solution and software suites is expected to offer remunerative opportunities for expansion of the programmatic display advertising market forecast during the period.
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• The COVID-19 had a positive impact on the growth of the global programmatic display advertising market. The high digital dependence during the lockdowns and surge in social media traffic brought immense opportunities for engaging with online audiences as well as keeping brand awareness high.
• In addition, the rapid spread of the pandemic compelled governments to enforce the closing of public spaces, schools, and borders, empowering many businesses and marketers to update their online marketing strategies. Businesses also invested more on online advertising, which propelled the market growth.
• The growth of the market during the post-pandemic period is expected to be driven by the extensive rise in social media advertising, increase in influencers, rapid growth in opportunities in OTT advertising, and growth in voice searches.
Based on ad format, the online video segment was the largest in 2021, accounting for nearly one-third of the global programmatic display advertising market share, and would rule the roost through 2031. The mobile video segment, however, is estimated to witness the fastest CAGR of 37.4% during the forecast period. The report also discusses the online display and mobile display segments.
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On the basis of type, the private marketplace segment dominated the overall programmatic display advertising industry in 2021 and is expected to continue this trend during the forecast period. This is attributed to the simplified ad space allotment in private marketplaces. However, the real time bidding segment is expected to witness the highest growth owing to the surge in demand for de-centralized and independent ad spaces.
Region-wise, the programmatic display advertising market was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to its high concentration of programmatic display advertising solutions vendors such as Google Inc., Adobe, and LG Electronics. which is expected to drive the market for programmatic display advertising technology within the region during the forecast period. However, Asia-Pacific is anticipated to witness significant growth during the forecast period, owing to rapid economic and technological developments in the region, which is expected to fuel the growth of programmatic display advertising solutions in the region in the coming few years.
In terms of industry vertical, the BFSI segment captured the largest market share of nearly one-fourth in 2021 and is expected to lead the trail during the forecast period. However, the IT and telecom segment is likely to achieve the fastest CAGR of 39.2% during the forecast period.
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The key players profiled in the programmatic display advertising market analysis are Adobe, Basis Technology, Connexity, Google, LLC, Integrated Ad, Science, Inc, IPONWEB Limited, Kayzen, LG Electronics, MediaMath, Magnite, Inc, NextRoll, Inc, RythmOne, LLC, Samsung Electronics, The trade desk, Verizon, Voyage Group, Xandr. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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