LONDON--(BUSINESS WIRE)--The global programmatic advertising spending market is expected to grow to nearly USD 210 billion by 2022, according to a new market research study by Technavio.
The report presents a comprehensive research of the global programmatic advertising spending market by auction type (open auction, automated guaranteed, invitation only, and unreserved fixed rate) and by display type (desktop and mobile). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.
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Market driver: high penetration of digital advertising
Digital advertising has gained immense popularity since the last decade, owing to the increased adoption of digital platforms. In 2017, the tablet shipment was 168.23 million units, and smartphone shipment was 1.75 billion units. This enabled the advertisers to use digital platforms extensively for posting their ads. This led to digital marketing campaigns overtaking traditional advertising strategies. Several of these campaigns have proven successful within a short duration of time due to their increased reach across the audience.
According to a senior analyst at Technavio for publishing and advertising research, “Digital marketing campaigns are three times more likely to be viewed compared with traditional marketing campaigns. This provides enormous growth opportunities for small and medium-sized enterprises to expand their business on digital platforms.”
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Market trend: high penetration of augmented reality (AR) technology in advertising sector
In the advertising sector, AR and virtual reality (VR) are the new buzz words. In the market, advertising plays a key role in the penetration of new products. AR advertisements are immersive and interesting, making them ideal for advertisers and viewers. Advertisers are focusing on capturing a wider audience through AR advertisements due to increased use of mobile devices. A customer can obtain all the information about a product, simply by pointing the smartphone at a product in a store. It gives the customer a chance to view the product from different angles.
The rise in mobile ad spending is an advantage for the mobile AR advertising market. The advertising and marketing sector accounted for an AR app installation base of nearly 200 million downloads, whereas the overall download was estimated to be nearly 2.5 billion in 2017. The AR app installation downloads in the marketing and advertising sector is expected to grow further during the forecast period.
Market challenge: low transparency in the market
In the global programmatic ad spending market, there is a lack of transparency due to the growing number of improper transactions. The publisher's ROI is based on the evaluation of inventory and limited publishing and ad-exchange information that are the only accurately known details for them. For example, an advertiser buys an inventory worth USD 20 cost per thousand impressions (CPM), which the publisher values at only USD 15. It is valued differently by different publishers and advertisers, even though the inventory is the same. In such cases, calculating the market size becomes a challenge. By passing auctions, single aggregate bids, and a transparent bidding process are some of the effective ways to improve transparency in the market.
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