Market Overview:
Cloud Advertising Market size is projected to reach USD 8.90 Billion by 2028 from an estimated USD 2.73 Billion in 2021, growing at a CAGR of 18.4% globally.
Cloud advertising solutions are used as building blocks for virtual advertising platforms on online and social media websites. It provides better and more effective advertisement of various brands and services. Cloud advertising services help companies at different phases of an advertisement, Cloud advertising services offer fixed prices whenever the ad is about to reach the end-users. Cloud advertising systems assist companies in advertising their products in several regions. The cloud advertisement provides a broad range of tools and services for different businesses like business-to-business and business-to-consumer both sides. Cloud advertising allows companies to reach a large segment of people. People are the ultimate user of their products and services through digital advertising. Cloud advertising makes them aware of the product or service and persuades them to buy it. According to Statista digital advertising spending worldwide amounted to 521.02 billion U.S. dollars in 2021.
Major Key Players for Cloud Advertising Market:
· Adobe (US)
· Oracle (US)
· Salesforce (US)
· Google (US)
· IBM (US)
· SAP (Germany)
· Acquia (US)
· Demandbase (US)
· Experian (US)
· Kubient (US)
· FICO (US)
· HubSpot (US)
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Market Dynamics and Factors:
The increasing adoption and growing awareness of cloud solutions among mobile, laptop, or internet users are expected to contribute to the growth of the cloud advertising market. Different forms of marketing can help companies to reach the exact customer. Different types of marketing tools are used as social media marketing, and email marketing by every business whether it is small scale or large scale are doing their advertisement to attract the people on the internet. Internet marketing is giving higher revenue to the company or business, which also gives growth to the Cloud advertising market. This platform allows numerous businesses, in different sectors, such as retail, media & entertainment, business, service providers, and others to implement cloud advertising solutions at a high rate. That propels the growth of the Cloud advertising market.
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Cloud Advertising Market Report Highlight:
· By Type, the private cloud segment is expected to have the maximum market share in the cloud advertising market during the projected period. Private players in cloud infrastructure such as Amazon AWS, Microsoft Azure, and Google Cloud have grabbed a large share of the market which helps in the growth of the cloud advertising market.
· By Services, software as a service segment is expected to hold the maximum cloud advertising market share over the forecast period. It gives a large beneficial factor for both customers and end developers so the demand for software as a service is high.
· By End-use, the Retail and consumer goods segment is anticipated to register a significant market share for the cloud advertising market over the forecast period. The retail and consumer goods segment continually focuses on the use of Internet technologies that allow for the high growth of the cloud advertising market in the upcoming time.
· By region, North America is expected to dominate the cloud advertising market, during the projection period. Most of the large providers in the market are also based in the US an estimated 80% of US companies that regularly use cloud services are from this region which boosts the growth of the cloud advertising market in this region.
Key Industry Development:
· In February 2022, Digital experience company Acquia announced the launch of its new Drupal Cloud hosting solution for customers in the United Kingdom. This service is particularly made to attract UK government authorities or businesses working with the government.
· In January 2021, Google Cloud and SAP SE announced an expanded strategic partnership to help customers execute business transformations, migrate critical business systems to the cloud, and augment existing business systems with Google Cloud capabilities in artificial intelligence (AI) and machine learning (ML).
Cloud Advertising Market Segmentation:
By Type
· Public Cloud
· Private Cloud
· Hybrid Cloud
By End Users
· Public
· Retail and consumer goods
· Manufacturing
· Healthcare
· Transportation & Logistics
· Media & Entertainment
· Energy & Utility
· Banking
· Financial Services and Insurance (BFSI)
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