The Programmatic Advertising Spending Market is being driven by Shift in consumer behavior toward online shopping
The Programmatic Advertising Spending Market is expected to grow at a CAGR of 38.1% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 892.7 billion. In the rapidly evolving advertising landscape, Augmented Reality (AR) and Virtual Reality (VR) are emerging technologies capturing the attention of advertisers. AR advertisements offer an immersive and engaging experience for consumers, making them a valuable investment for businesses seeking to penetrate new markets. With the widespread use of mobile devices, AR advertisements provide an opportunity to reach a broader audience. By simply pointing a smartphone at a product in a retail setting, consumers can access comprehensive product information and explore it from various angles. The surge in mobile advertising expenditures presents a significant advantage for the mobile AR advertising sector.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Application (Open auction, Automated guaranteed, Invitation-only, Unreserved fixed-rate) Type (Mobile, Desktop) Geography (North America, APAC, Europe, South America, Middle East and Africa).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Programmatic Advertising Spending Market Research Report
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Programmatic advertising has emerged as a prominent marketing channel in the digitalization of the smartphone market. With the rise of programmatic advertising platforms, mobile app developers can monetize their advertising inventory in real-time through automated bidding in Open Auctions. Over-the-top (OTT) and Connected TV ads are the latest additions, attracting Large Enterprises. Programmatic marketing offers personalized ads based on massive customers' data from social media giants like TikTok, Pinterest, Facebook, and Social Commerce. Real-time bidding (RTB) and private marketplace guaranteed ensure efficient use of digital advertising budgets for desktop and mobile online ads.
The global media and entertainment market encompasses businesses providing advertising, broadcasting, cable and satellite, publishing, movies and entertainment, interactive home entertainment, interactive media and services, and gambling solutions. According to Technavio, the global advertising market revenue is derived from the combined earnings of device manufacturers and software, services, and solution providers. This market includes a company's total expenditure on advertising, marketing, and public relations services, both online and offline, excluding digital advertising revenues. Factors driving growth in the advertising market include the evolving media consumption habits, particularly in high broadband penetration regions, where individuals curate their own media menus and access content at their convenience. AI and algorithms continue to shape media choices and experiences. Programmatic advertising, a digital marketing tool, plays a significant role in this dynamic landscape through its use of automated platforms for media buying and real-time bidding in auction-type environments, especially in mobile apps.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
Jesse Maida
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