AdTech Market Share Reach USD 2.9 Trillion by 2031, Key Factors behind Market’s Exponential Growth
Growing digital and internet penetration around the world is driving the growth of the market.
PORTLAND, PORTLAND, OR, UNITED STATE, April 23, 2024 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The AdTech Market Share Reach USD 2.9 Trillion by 2031, Key Factors behind Market’s Exponential Growth.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global Adtech market was valued at USD 748.2 billion in 2021, and is projected to reach USD 2.9 trillion by 2031, growing at a CAGR of 14.7% from 2022 to 2031.
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The growing digital and internet penetration around the world, the increase in the adoption of AdTech solution to enhance operation & productivity, and the rising adoption of advanced technology such as artificial intelligence (AI), machine learning, and AR/VR, among others drive the AdTech market. The rising gaming industry and growing social media apps such as Facebook, WhatsApp and others will present new growth opportunities for the global AdTech market in the coming years.
The Adtech market is segmented into solution, advertising type, enterprise size, platform, industry vertical, and region. As per solution, it is bifurcated into demand-side platforms (DSPs), supply-side platforms (SSPs), ad networks, data management platforms (DMPs) and others. According to advertising type, it is divided into programmatic advertising, search advertising, display advertising, mobile advertising, email marketing, native advertising, and others. Depending on enterprise size, the market is segregated into small & medium-sized enterprises and large enterprises. According to platform, the market is segregated into mobile, web, and others. By industry vertical, the market is classified into BFSI, IT & telecom, retail & consumer goods, education, healthcare, media and entertainment, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on application, the large enterprises segment grabbed the highest share of more than three-fifths of the AdTech market in 2021 and is expected to dominate the market in 2031. This is due to the high adoption of AdTech solutions in large organizations. However, the small and medium-sized enterprises segment would witness the fastest CAGR of 17.5% from 2022 to 2031. This is owing to digitalization and increasing investment in advanced technology such as AI/ML, AR/VR, and others.
Based on solution, the demand-side platforms (DSPs) segment contributed to the largest share of more than one-third of the global AdTech market in 2021. As DSP technology helps utilize the ad money in a very efficient way, businesses don’t waste this money on ad space that won’t induce results. Furthermore, demand-side platforms are an evolution of ad networks, which have been incorporating capabilities like real-time bidding into their offering as well. However, the data management platforms (DMPs) segment is expected to lead in terms of revenue and witness the fastest CAGR of 18.7% from 2022 to 2031.
Based on region, the market in North America was the largest in 2021, accounting for nearly two-fifths of the global AdTech market. The increasing investment in advanced technologies such as AdTech solution to improve businesses and the customer experience are anticipated to propel the growth of AdTech market in North America. However, the market in Asia-Pacific is likely to dominate in terms of revenue and show the fastest CAGR of 17.7% during the forecast period. This is attributed to the increase in penetration of digitalization and higher adoption of advanced technology in the region.
The key players that operate in the AdTech market analysis are Adobe Inc., Alibaba Group Holding Limited, Amazon.com, Inc., Oracle Corporation, Google LLC, InMobi, Meta Platforms, Inc., Microsoft Corporation, Twitter, Inc., and Verizon Communications Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the AdTech industry.
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Covid-19 Scenario
● The outbreak of the COVID-19 pandemic had a less negative impact on the AdTech market growth. It was expected that the pandemic would provide several growth opportunities for the market over the forecast period. These opportunities include an upsurge in use of social media due to lockdowns, increase in influencers, rapid growth in over-the-top (OTT) services, and growth in voice searches.
● Moreover, various industries, such as auto, furniture, real estate, healthcare, non-profits, retail, and entertainment reported growth in the annual marketing and advertising budget, which is expected to be opportunistic for the AdTech market growth in the future.
● During the pandemic, more consumers shopped online than during the pre-COVID-19 times. Consumers purchased their groceries online and enjoyed the convenience of home delivery. This trend provides lucrative opportunities for market growth during the forecast period.
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