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Programmatic Advertising: The Digital Frontier of 2024
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According to The Business Research Company's, The programmatic advertising market size has grown exponentially in recent years. It will grow from $9.75 billion in 2023 to $12.46 billion in 2024 at a compound annual growth rate (CAGR) of 27.8%. The growth in the historic period can be attributed to data-driven targeting, automation and efficiency, audience segmentation, brand safety measures, video and mobile advertising.
The programmatic advertising market size is expected to see exponential growth in the next few years. It will grow to $28.12 billion in 2028 at a compound annual growth rate (CAGR) of 22.6%. The growth in the forecast period can be attributed to increased use of contextual targeting, privacy-compliant solutions, programmatic audio advertising, header bidding evolution, unified ID solutions. Major trends in the forecast period include first-party data utilization, real-time bidding (RTB) enhancements, cross-channel campaign management, dynamic creative optimization (DCO), supply path optimization (SPO).
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Market Drivers and Trends:
The increasing growth of the mobile industry is expected to significantly contribute to the growth of the programmatic advertising market. The increasing population, advancing technologies, and increased use of the internet are contributing to the development of the mobile industry. Internet and the use of mobiles have become the universal source of information for millions of people, at home, at school, and at work. The increasing growth of the mobile market coupled with the advancements will enhance the programmatic advertising as it enables automation, improve data quality, and structure all data in a better and smarter software application for targeting the appropriate user at the lowest operational cost. For instance, according to The Mobile Economy 2022 report published in February 2022 by a UK-based industry organization representing the interests of global mobile network operators GSM Association, globally, the number of mobile internet subscribers is projected to reach 5 billion by 2025 from 4.2 billion in 2021, representing 60% of the population by 2025 from 53% in 2021. Therefore, the increasing growth of the mobile market will drive the growth of the programmatic advertising market.
Technological advancement is a key trend gaining popularity in the programmatic advertising market. The market is witnessing the implementation of next-generation technologies into programmatic advertising such as data science in addition to AI (artificial intelligence) & ML (machine learning), text API (application programming interface), CRM (customer relationship management) software, and others. These advanced programmatic advertising solutions offer end-to-end engagement and better optimization in addition to automation. Major companies operating in the programmatic advertising market are focused on providing technologically advanced programmatic advertising solutions to acquire more customers and strengthen their market position. For instance, PandoLogic, a US-based software company, offers pandoIQ, the most advanced programmatic job advertising solution for enterprise recruitment. The pandoIQ platform uses algorithms built on advanced data science, machine learning, and artificial intelligence to intelligently automate and optimize the process of job advertising. It also optimizes the spending to obtain quality candidates faster, smarter, and more efficiently by removing manual processes, data silos, and inefficiency.
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Major Key Players of the Market:
Adobe Advertising Cloud, AdReady Inc., NextRoll Inc, Magnite Inc, Baidu Inc, Google Ad Manager, The Trade Desk Inc., MediaMath Inc, XandrInc, Criteo S.A., Verizon Media Ventures Inc., HABIB EXCHANGE Co, PubMatic Inc, OpenX Software Ltd., Outbrain Inc., Taboola Inc., SpotX Inc., Sizmek Inc, Roku Inc, Quantcast Corporation, IgnitionOne Inc, Adform A/S, Kochava Inc, Centro Basis Technologies Inc, SmartyAds Inc, Viant Technology LLC, Mediaocean LLC, Zeta Global Holdinngs Corp, Beeswax Corporation, LiveRamp Holdings Inc, Amobee Inc
Programmatic Advertising Market 2024 Key Insights:
• The programmatic advertising market size is expected to see exponential growth in the next few years. It will grow to $28.12 billion in 2028 at a compound annual growth rate (CAGR) of 22.6%.
• Mobile Industry Surge Is A Catalyst For Programmatic Advertising Market Growth
• Technological Advancements Driving Transformation In The Programmatic Advertising Landscape
• North America was the largest region in the programmatic advertising market share in 2023
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