Global AdTech Market Size Expected To Reach $1.9trn By 2028
The Global AdTech Market size is expected to reach $1.9 Trillion by 2028, rising at a market growth of 14.4% CAGR during the forecast period.
This was made known by ReportLinker, a tech company that uses artificial intelligence to deliver market data and forecasts while announcing the release of the “Global AdTech Market Size, Share & Industry Trends Analysis Report By Advertising Type, By Solution, By Platform, By Enterprise Size, By Vertical, By Regional Outlook and Forecast, 2022 – 2028″ –
The technology and tools used to manage, deliver, and assess the efficacy of internet advertisements are referred to as “ad tech” (advertising technology). Advertisers can use these tools to target the appropriate demographics for their ads, make the most of their advertising budgets, and assess the effectiveness of their campaigns.
Connected TV (CTV), geotargeting, hyper-personalization, augmented reality & virtual reality, integrated customer journeys, and vernacularization are prominent trends in the ad tech market.
Moreover, programmatic advertising targets and delivers ads using algorithms and data, making ad campaigns more successful and efficient. Because it incorporates sponsored material into the layout and style of a website, native advertising is also growing in popularity.
Since there has been an increase in investment in data, artificial intelligence, automation, and programmatic advertising, the AdTech market is expected to expand quickly. New items and businesses are continuously entering the market, which is always changing and evolving.
Market Growth Factors
Increasing use of AI in advertising: AI is rapidly transforming the advertising industry due to its vast array of benefits and ability to increase intelligence over time. The use of data or consumer insights to make advertisements more relevant to their intended audience. With customers expressing that they will do only business with companies that customize their experience, it is increasingly becoming a priority to make marketing more relevant and individualized. As a result, AdTech market expansion is anticipated to be propelled by the increasing use of artificial intelligence in advertising to further improve the consumer experience and campaign efficacy.
Surged adoption of smartphones and advent of high-speed internet: Smartphones have progressed significantly over the years and are now equipped with cutting-edge technologies such as a gyroscope, global positioning system (GPS), near-field connection (NFC), augmented reality, and virtual reality. The increased disposable income of consumers worldwide has led to an increase in the likelihood that they will spend money on media, entertainment, mobile communication devices, and networking, which has led to a rise in the global adoption of smartphones. As a result, rising disposable income is anticipated to stimulate the expansion of the worldwide smartphone market over the forecast period.