The advertising software market is predicted to grow at a healthy CAGR during the forecast period (2020- 2027), states the latest Market Research Future (MRFR) report.
Shift to Digital Advertising to Boost Market Growth
The shift to digital advertising especially connected TV advertising from traditional TV advertising is likely to fuel the growth of the market in the forecast period. The advertising software offers video ad making tools and creation software that helps in offering creative and interactive ads.
Growing Adoption of Cloud-Based Services to offer Robust Opportunities
The growing adoption of cloud-based services coupled with the integration of machine learning and artificial intelligence algorithms with the advertising software may offer robust opportunities for the market over the forecast period.
Restraints and Challenges
Data Privacy may act as Market Restraint
Data privacy and security concerns may act as market restraint over the forecast period.
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Businesses are transitioning business models rapidly and not looking back. With this, there have been some changes in advertising software. Anti-virus/malware software, network equipment, and cloud computing are the biggest B2B movers recently, with a rapid increase in spend. But despite the increasing spend in such sub-categories, the overall IT and software spend has come to normal levels. With the lift in lockdowns things are likely to fall into place in the post COVID era.
The advertising software market is segmented based on vertical, advertising platform, software type, deployment, and solution.
By solution, the advertising software market is segmented into ad exchanges and verification, data management, search engine optimization, ad servers, and others.
By deployment, the advertising software market is segmented into on-premise and on-cloud.
By software, the advertising software market is segmented into non-programmatic and programmatic.
By advertising type, the advertising software market is segmented into social media advertising, e-mail advertising, video advertising, display advertising, and search advertising.
By advertising platform, the advertising software market is segmented into mobile-based and web-based.
By vertical, the advertising software market is segmented into travel and hospitality, IT and telecommunication, media and entertainment, manufacturing, healthcare, education, consumer goods and retail, transportation and logistics, BFSI, and others.
North America to Dominate Advertising Software Market
North America will dominate this market in the forecast period. The presence of major key players, heavy investments in R&D activities to develop advertising software with advanced capabilities, early adoption of technology, highly skilled expertise, and increasing adoption of advanced technologies like connected TV and video on demand are adding to the global advertising software market growth in the region.
Leading players profiled in the global advertising software market report include Criteo SA (France), Google (US), MediaMath, Inc. (US), Adobe Systems Inc. (US), AppNexus (US), AdRoll (US), The Trade Desk (US), Comcast Corporation (US), Amazon.com Inc. (US), Oracle Corporation (US), dataxu (US), Adform (Denmark), Neustar (US), The Rubicon Project (US), and Centro (US), Salesforce.com, Inc. (US), Facebook, Inc. (US), PubMatic Inc. (US), OpenX Technologies Inc. (US), and Index Exchange Inc. (US).
Key players have incorporated several strategies to stay at the forefront such as partnerships, mergers and acquisitions, collaborations, new product launches, and others. For instance, a trusted partner for planning, evaluating, and transacting media platforms, Comscore has entered into a partnership with a leading people-based software company, Viant Technology Inc. on the successful integration of Comscore’s entire contextual Activation suite into the adverting software Adelphic of Viant.
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