Cloud Advertising Market Size to Grow USD 219.3 Million by 2030 at a CAGR of 8.9% | Valuates Reports
BANGALORE, India, Feb. 20, 2024 /PRNewswire/ -- Cloud Advertising Market is Segmented by Type (Cross Channel, End-to-end), by Application (SMEs, Large Enterprises)
The global Cloud Advertising market was valued at USD 119.9 Million in 2023 and is anticipated to reach USD 219.3 Million by 2030, witnessing a CAGR of 8.9% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Cloud Advertising Market
Numerous important elements are driving the growth of the cloud advertising market. First off, scalable and adaptable infrastructure is required due to the growing use of digital advertising platforms across a range of businesses, and cloud services easily meet this need. Second, real-time analytics, targeted advertising, and personalized content distribution provided by cloud-based advertising solutions boost marketing campaign efficacy and stimulate demand. Thirdly, companies looking to maximize reach and impact while optimizing their advertising expenditures are drawn to cloud advertising solutions due to their cost-effectiveness and operational efficiency. Finally, the growing popularity of mobile advertising, together with developments in AI and machine learning, drives the expansion of the cloud advertising industry by enabling more accurate targeting and optimization techniques.
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TRENDS INFLUENCING THE GROWTH OF THE CLOUD ADVERTISING MARKET
The use of data-driven advertising tactics is being propelled by the widespread availability of data analytics tools and technologies, which is further propelling the expansion of the cloud advertising market. Large volumes of data, such as user behavior, preferences, and demographics, are tapped into by cloud-based advertising systems to provide customers with highly targeted and customized adverts. Advertisers may create more relevant and interesting ad experiences by using real-time data analysis to better understand the interests and preferences of their target audience. One major factor propelling the growth of the cloud advertising business is programmatic advertising, which employs AI algorithms to automate the purchasing and selling of ad inventory in real time. With the help of cloud-based programmatic systems, advertisers can more precisely and efficiently reach their target audience across a variety of channels, devices, and formats.
The market for cloud advertising is expanding as a result of companies shifting a larger portion of their advertising spending to online platforms due to the rapid digital revolution occurring across all industries. Advertisers are turning their attention from conventional media channels to digital platforms like social media, search engines, and smartphone applications as consumers spend more and more time online. In today's digital first world, cloud-based advertising solutions provide the flexibility and scale required to efficiently reach and interact with customers.
The cloud advertising industry is seeing development and innovation due to the incorporation of artificial intelligence (AI) and machine learning (ML) technology into advertising platforms. With the help of AI-powered advertising solutions, marketers can optimize their campaigns for increased performance and return on investment by using algorithms to analyze massive volumes of data in real time.
A sizable portion of the cloud advertising business, mobile advertising, is expanding due to the widespread use of smartphones and other mobile devices. Cloud-based advertising systems provide mobile-friendly ad formats, location-based targeting, and app-based advertising solutions, allowing marketers to reach customers while they're on the move. In order to successfully reach and interact with their target audience, advertisers are increasing their investment in mobile advertising due to the growing popularity of mobile applications and mobile internet usage.
The popularity of consuming online video content on a variety of digital platforms is driving the phenomenal rise of video advertising. With the powerful video ad-serving capabilities provided by cloud-based advertising systems, marketers can reach specific audiences with interesting video ads across websites, social media platforms, and streaming services.
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CLOUD ADVERTISING MARKET SHARE ANALYSIS
Based on geographical dynamics, there is variance in the cloud advertising market. The industry is thriving in North America because of the existence of important companies, developments in technology, and high internet penetration rates. Europe follows suit, experiencing notable expansion propelled by a rise in digitization and the industry-wide use of cloud-based solutions. Significant market expansion is being fueled by the Asia-Pacific region's rising e-commerce industry, growing digital infrastructure, and rapid economic development.
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Key Players:
- Oracle
- GOOGLE INC
- Rackspace
- IBM
- Adobe Systems
- Viant Technology
- Salesforce
- Marin Software
- Imagine Communications
- AWS
- Clouds Advertising
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