Global cloud advertising market to reach $140 billion in 2026, report

Global cloud advertising market to reach $140 billion in 2026, report

04-08-2022 15:53:25 | Door: Bob Koigi | Hits: 1078 | Tags:

The global cloud advertising market is expected to grow from $67.22 billion in 2021 to $78.19 billion in 2022 at a compound annual growth rate (CAGR) of 16.3%. The market is expected to grow to $140.66 billion in 2026 at a compound annual growth rate (CAGR) of 15.8%. This is according to a report by Research and Markets.

The cloud advertising market consists of sales of cloud advertising services by entities (organizations, sole traders, and partnerships) that provide cloud-based advertising services and solutions to manage the workflow related to online advertising. Cloud advertising is a type of digital marketing using cloud platforms used to reach consumers for the better and more effective advertisement of brands and services.

The main types of cloud advertising include public cloud, private cloud, and the hybrid cloud. A public cloud advertising platform offers services in which multiple organizations share cloud advertising services where each organization's data and applications are inaccessible to others over the internet.

Public cloud advertising services are owned by third-party service providers. The different cloud advertising services include business process as a service (BPaaS), platform as a service (PaaS), infrastructure as a service (IaaS) and software as a service (SaaS). The different cloud advertising user groups include small and mid-size enterprises (SMEs) and large enterprises. The end-users of cloud advertising include retail, media and entertainment, IT and telecom, BFSI, government and other end-users.

North America was the largest region in the cloud advertising market in 2021. Asia Pacific is expected to be the fastest growing region in the forecast period. The regions covered in the cloud advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rapid growth in the number of internet users is significantly driving the growth of the cloud advertising market. The internet is a global network system of connected computers for sharing information communication and access to data resources using an internet connection.

Cloud advertising offers a cloud-based online display of advertising campaigns using the internet and social media platforms. So, the increase in the number of internet users is creating more customer engagement in cloud advertising platforms. For instance, according to the Telecom Regulatory Authority of India, the number of Internet users increased from 776.45 million in September 2020 to 825.30 million in March 2021. Therefore, rapid growth in the number of internet users is contributing to the growth of the cloud advertising market.

Technological advancements are the key trends significantly shaping the cloud advertising market. As there is a growing demand for cloud advertising, the key players operating in the cloud advertising market are focusing on developing advanced technological solutions to lead the market.

Cloud advertising with advanced technologies such as data science, AI, and machine learning will improve customer advertisement experience and engagement. For instance, in September 2021, Salesforce, a US-based cloud software company introduced AI-powered features to the Marketing Cloud as a real-time engagement tool to improve personalized messaging and optimize marketing impacts and customer engagement in real-time.

www.researchandmarkets.com

 


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