According to Market Research Future (MRFR), the global programmatic advertising market is estimated to reach USD 150 billion at a CAGR of 22% from 2017 to 2023 (forecast period). The study outlines and explores the effects of the outbreak of COVID-19 on the global programmatic advertising market, including future opportunities and threats, drivers, and risks.
Programmatic advertising is increasing steadily and will continue to rise over the projected period. It's a highly automated form of digital advertising. It includes buying and selling online advertising through software or a machine. There are no human negotiations or manual insertions involved. It makes use of machine algorithms to buy ads online. It helps automate the decision-making process of selecting a media source and buying media for advertising purposes, as it helps concentrate on the target market.
Market Dynamics
People take their phones with them almost regularly during the day and keep them all night long beside their beds. Mobile phones are projected to provide a substantial opportunity to increase programmatic spending. As the mobile market grows, mobile advertising can be used on a larger scale, and there is a higher demand for more advanced technology. Mobile is getting closer to replacing desktops as 'the first screen' programmatic technology, confidently making its way to mobile phones. The advent of new ways and tools to track and quantify relevant data on mobile devices has had an impact on the bright prospects for programmatic mobile video. For example, Facebook is currently playing a significant role in the growth of mobile programmatic.
The booming popularity of social media services plays a significant role in programmatic advertising. Almost all main social platforms now offer programmatic advertising options. Programmatic brings different benefits across social media platforms, as marketers run more effective campaigns through automated buying and through targeting a precise audience with highly appropriate messages through social media. For example, Red Bull is targeting videos on Twitter feeds of people who have watched extreme sports sites. The platform allows marketers to bid on influencer ads programmatically in real-time and to buy influencer's branded content on their social media accounts, blog pages, and websites.
Market Segmentation
- The global programmatic advertising market has been segmented on the basis of device, ad format, and end-users.
- By device, the global programmatic advertising market has been segmented into desktops and mobiles.
- By ad formats, the global programmatic advertising market has been segmented into desktop banners, mobile banners, desktop videos, and mobile videos. Desktop banners segment is generating the highest revenue as compared to others. But due to the increasing use of mobile phones, banner ads are decreasing, and mobile videos are gaining traction. Over the forecast period, mobile videos will witness rapid growth and will grow at the highest CAGR.
- By end-users, the global programmatic advertising market has been segmented into education, finance, media & entertainment, retail, and travel.
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