Artificial Intelligence
AdTech Global Market Report 2023
New York, June 26, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “AdTech Global Market Report 2023” – https://www.reportlinker.com/p06464017/?utm_source=GNW
, Telaria, Mobvista Co.Ltd., Magnet Digital.io, Microsoft Incorporation, WPP Plc., Omnicom Group Inc., The Interpublic Group of Companies Inc., and MediaMath Inc.
The global ad-tech market is expected to grow from $15.95 billion in 2022 to $17.95 billion in 2023 at a compound annual growth rate (CAGR) of 12.5%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The ad-tech market is expected to reach $27.42 billion in 2027 at a CAGR of 11.2%.
The Ad tech market consists of revenues earned by entities by providing advertising technology services such as display advertising, video advertising, mobile advertising, and native advertising technology services.The market value includes the value of related goods sold by the service provider or included within the service offering.
The advertising technology market also includes sales of different types of devices such as computer, computer peripherals used in providing advertising technology services.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Advertising technology, commonly known as ad tech, is a collective term for the tools and software advertisers use to reach audiences, conduct digital advertising campaigns, and analyze their effectiveness. Adtech focuses to develop data-driven marketing tactics that are personalized to match the target audience.
North America was the largest region in the Ad tech market in 2022. The regions covered in Ad tech report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of the ad tech market are web-based, cloud-based, on-premise, and others.A web-based system allows users to access a software system via a computer and an internet connection.
Using web-based advertising technology, multiple users can access the same version of an application.The various solutions include demand-side platforms (DSPs), supply-side platforms (SSPs), ad networks, data management platforms (dmps), and others.
The various advertising types include programmatic advertising, search advertising, display advertising, mobile advertising, email marketing, native advertising, and others. These ar applied in various applications such as large enterprises, small and medium-sized enterprises (SMEs), others, and are used by various industry verticals such as media and entertainment, BFSI (banking, financial services, and insurance), education, retail, and consumer goods, IT and telecom, healthcare, and others.
The increased demand for digital advertising is expected to propel the growth of the ad tech market going forward.Digital advertising is the marketing of products and services via online channels such as websites, streaming content, and so on.
Ad tech is used in digital advertising for software platforms to assist brands and agencies in purchasing advertising space, and advertisers and agencies can plan and measure their campaigns more efficiently and effectively.For instance, in February 2023, according to a report shared by Simplilearn Solutions Pvt.
Ltd., a US-based online edu-tech company, global digital advertising expenditures increased by a modest 2.4%in 2022, and are expected to reach $645 billion by 2024, up from $389 billion in 2022. Therefore, the increased demand for digital advertising is driving the growth of the ad tech market.
Technological development is a key trend gaining popularity in the ad tech market.Major companies operating in ad tech are focused on developing innovative solutions to strengthen their position in the market.
For instance, in June 2022, Vodafone Idea Limited., an Indian-based mobile network operator company, launches its new ad tech platform called Vi Ads, that include artificial intelligence (AI) and machine learning (ML), aimed at giving marketers a programmatic media buying platform. Vi Ads would provide a self-service interface that will give marketers complete control over their campaigns and also allow marketers to engage with the subscribers via a variety of channels, including Vi-owned digital media Vi App, Vi Movies, and TV App, as well as traditional channels such as SMS and IVR calls. The combination of advanced features and ease of use will appeal to both large agencies and small and medium-sized businesses.
In February 2023, Marketing Technology Solutions (MTS), a US-based marketing technology company that provides advertising services, acquired 67% stake in Buzzoola Group (Buzzoola Group (Buzzoola Internet Technologies LLC and Buzzoola Advertising Technologies LLC), for an undisclosed amount.With this acquisition, Marketing Technology Solutions (MTS) aims to boost ad tech development, accelerate the development of its ad tech business, and increase its share of the advertising market.
Buzzoola Group is a Russian-based advertising technology company.
The countries covered in the Ad tech market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The ad tech market research report is one of a series of new reports that provides ad tech market statistics, including ad tech industry global market size, regional shares, competitors with an ad tech market share, detailed ad tech market segments, market trends and opportunities, and any further data you may need to thrive in the ad tech industry. This ad tech market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06464017/?utm_source=GNW
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