Chicago, Nov. 21, 2023 (GLOBE NEWSWIRE) -- The global AdTech Market size is anticipated to grow at a CAGR of 14.5% during the forecast period, from USD 579.4 billion in 2023 to USD 1,496.2 billion by 2030, according to a new report by MarketsandMarkets™. Due to various business drivers, the security automation market is expected to grow significantly during the forecast period. The market is experiencing significant growth due to the proliferation of smartphones for greater mobile optimization and in-app advertising. The increasing demand for data-informed marketing strategies and the growing popularity of audio streaming and podcasts for audio advertising are also responsible for driving the market’s growth.
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AdTech Market Dynamics:
Drivers:
- Increasing demand for data-informed marketing strategies
- Growing popularity of audio streaming and podcasts for advertising
- Proliferation of smartphones for greater mobile optimization and in-app advertising
Restraints:
- Stringent privacy regulations and security concerns
- Inaccurate data quality and accuracy
Opportunities:
- Rapid adoption of AI and ML technologies for hyper-personalized user experience
- Focus on voice-activated ads and conversational advertising
- Widespread adoption of AR and VR technologies for more interactive and immersive ad experiences
List of Key Players in AdTech Market:
- Meta (US)
- Google (US)
- Amazon (US)
- Adobe (US)
- Yahoo (US)
- Zeta (US)
- Microsoft (US)
- Celtra (US)
- Basis Technologies (US)
- Luna (US)
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AdTech serves as a comprehensive descriptor for the tools and software employed by advertisers to connect with their audiences, as well as to execute and gauge the effectiveness of digital advertising campaigns. It evolved in response to the increasing complexity of buying and selling digital ads, aiming to simplify and enhance the entire process.
Based on the offering, the AdTech market is segmented into solutions and services. The solutions segment is expected to garner a higher revenue during the forecast period. With machine learning and AI advancements, programmatic advertising platforms have become increasingly sophisticated, allowing for real-time bidding and personalized ad targeting. Another important development in the AdTech market is the rise of privacy-focused solutions in response to growing concerns about data privacy and user consent. The services segment is projected to grow more during the forecast period.
Based on solution by deployment mode, the segment has been bifurcated into cloud and on-premises. The on-premises segment is expected to garner a higher revenue during the forecast period. This mode offers a heightened level of control over data and security policies. Organizations with strict compliance requirements or handling extremely sensitive information may opt for on-premises deployment to maintain full oversight. On-premises solutions provide the advantage of direct control over configurations and data handling practices.
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Based on verticals, the segment has been bifurcated into BFSI, Media and entertainment, Healthcare and life Sciences, Retail & eCommerce, Education, Transportation and logistics, Food and beverages, Travel and hospitality, Telecom, Manufacturing, and other verticals (Government & Public Sector, Energy & Utilities, , IT & ITES, and Real Estate). Media and Entertainment is estimated to account for the largest market share during the forecast period. This sector, which includes broadcasting, streaming services, and content production, increasingly relies on digital advertising for revenue generation. Furthermore, the emergence of Over-The-Top (OTT) platforms has disrupted the traditional television advertising model. OTT services, which offer content via the Internet, have become a preferred choice for consumers, resulting in a surge in ad spending on these platforms.
The AdTech market has been segmented into five regions: North America, Europe, the Middle East & Africa, the Asia Pacific, and Latin America. North America is estimated to account for the largest market share during the forecast period, while the Asia Pacific region is expected to grow at the highest rate. The high digital penetration and extensive internet usage in the US and Canada have fostered a thriving AdTech ecosystem. Advertisers leverage advanced data analytics and targeting tools to reach their audiences effectively. Additionally, the presence of major tech giants, such as Google, Meta, and Amazon, further fuels AdTech innovation and investment. These companies provide advertisers with access to vast user data, enabling precise targeting and personalized ad campaigns.
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