Digital Advertising Platforms Market Size, Share, Growth, and Industry Analysis, By Type (Search Advertising Software, Display Advertising Software, Mobile Advertising Software, Social Advertising Software, Video Advertising Software, Cross-Channel Advertising Software), By Application (Industrial, Commercial, Education, Others), and Regional Forecast to 2031

Updated On: 22 April 2024

Digital Advertising Platforms Market Report Overview

• 

• Request a Free Sample to learn more about this report

The global digital advertising platforms market size was valued at USD 276711.45 million in 2021. As per our research, the market is expected to reach USD 657422.72 million 2027, exhibiting 15.51% during the forecast period. The COVID-19 pandemic has been unprecedented and staggering, with the digital advertising platforms market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Digital advertising platforms are software solutions that enable businesses to create, manage, and deliver digital advertising campaigns. These platforms offer a variety of features, such as ad targeting, campaign budgeting, and performance analytics. Digital advertising platforms are used by businesses of all sizes to reach their target audiences and promote their products and services.

The digital advertising platforms market growth can be attributed to several key factors. Firstly, increased internet penetration across the globe has resulted in a larger audience for digital advertising. As more people access the internet, businesses can leverage digital platforms to reach potential customers effectively. Additionally, the ability to target specific audiences is a crucial advantage offered by digital advertising platforms. Businesses, irrespective of their size, can tailor their advertisements to reach their desired customer segments. This is particularly beneficial for small businesses with limited advertising budgets, as it ensures efficient utilization of resources.

COVID-19 Impact: Demand Surged Due to Shift of Consumer Behavior towards E-Commerce

During the COVID-19 pandemic, there was a significant surge in demand for digital advertising platforms due to several key factors that reshaped the digital landscape. The increased time spent online became a defining feature of the pandemic era, with individuals working from home, attending school remotely, and seeking entertainment within their homes. This surge in online presence created unprecedented opportunities for advertisers to connect with their target audiences.

Simultaneously, the pandemic prompted a notable shift in consumer behavior towards e-commerce. Fears of contracting the virus deterred many from in-store shopping, driving consumers to turn to online platforms for their shopping needs. This change in purchasing behavior presented a golden opportunity for businesses to leverage digital advertising to engage with these online shoppers effectively.

Furthermore, the ability to conduct targeted advertising proved invaluable during the economic uncertainty brought about by the pandemic. These advertising platforms allowed businesses to fine-tune their marketing efforts, ensuring that their advertising budgets were spent effectively. This precision and flexibility were critical for companies striving to maintain their market presence and adapt to the rapidly changing consumer landscape.

Latest Trends

"Rise of Influencer Marketing to Connect with Extensive and Targeted Audiences"

In recent years, influencer marketing has gained substantial traction within the advertising industry. This marketing approach involves collaborating with social media influencers to endorse products or services. Influencer marketing's growing popularity can be attributed to its remarkable effectiveness in reaching target audiences and cultivating trust.

Influencers, individuals who have cultivated sizable and engaged followings on platforms like Instagram, TikTok, and YouTube, hold the power to connect with extensive audiences through their posts. Their followers often place a high level of trust in their recommendations, making influencer marketing a valuable tool for businesses.

Businesses can engage with influencers in various ways, including sending them products for review or compensating them to create sponsored content. What sets influencer marketing apart is its ability to tap into the trust relationships influencers have fostered with their followers. When an influencer endorses a product or service, their followers are more inclined to make a purchase, making this marketing strategy a potent force in the digital advertising arena.

Segmentation

• 

• Request a Free Sample to learn more about this report

•  By Type Analysis

According to type, the market can be segmented into search advertising software, display advertising software, mobile advertising software, social advertising software, video advertising software, and cross-channel advertising software.

The search advertising software segment is expected to hold the largest market share. This is due to the fact that search advertising is one of the most effective forms of digital advertising.

• By Application Analysis

Based on application, the market can be divided into industrial, commercial, education, and others.

The commercial segment is expected to hold the largest market share. This is due to the fact that businesses of all sizes are using these advertising platforms to reach their target audiences and promote their products and services.

Driving Factors

"Increased Internet Penetration to Drive Market Growth"

One of the primary driving factors for the growth of the digital advertising platform market is the increased internet penetration worldwide. With more people gaining access to the internet, businesses have a larger and more diverse audience to target with their digital advertising campaigns. This trend is not limited to developed countries but extends to emerging markets as well, further boosting the demand for these advertising platforms.

"Targeted Advertising Empowering Smaller Enterprises with Limited Advertising Budgets to Propel the Market Growth"

Digital advertising platforms provide businesses with the ability to target their ads to specific audiences with precision. This is crucial for businesses of all sizes, particularly smaller enterprises with limited advertising budgets. The ability to reach the right audience at the right time enhances the effectiveness of advertising campaigns, leading to increased demand for these platforms.

Restraining Factor

"AD Fraud and Privacy Concerns to Hinder Market Growth"

The digital advertising industry faces noteworthy restraining factors that impact its effectiveness. A significant challenge is the presence of ad fraud, wherein advertisers incur charges for ads that fail to reach genuine users. Furthermore, mounting concerns regarding online privacy have added complexity to the advertising landscape. These concerns make it increasingly challenging for advertisers to accurately track and effectively target their intended audience.

Regional Insights

• 

• Request a Free Sample to learn more about this report

"North America to Dominate the Market Fueled by High Development and Internet Penetration"

North America holds the dominant digital advertising platforms market share due to its extensive internet access, a mature advertising ecosystem with giants like Google and Meta, and a strong culture of online shopping. This dominance is sustained by ongoing innovation from companies like TikTok. In this landscape, search, social media, and video are the top advertising formats. North America's digital advertising market is dynamic, characterized by major players and a technologically advanced environment.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Google (U.S.)
• MediaMath (U.S.)
• OpenX (U.S.)
• Choozle (U.S.)
• Rubicon Project (U.S.)
• Kenshoo (Israel)
• Adobe (U.S.)
• Sizmek (U.S.)
• Rocket Fuel (India)
• Yahoo! (U.S.)
• Twitter (U.S.)
• Facebook (U.S.)
• Sovrn Holdings (U.S.)
• LinkedIn (U.S.)
• ONE by AOL (U.S.)
• Oath Inc. (BrightRoll) (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.