A report released by Reportlinker finds that the worldwide cloud advertising market is expected to grow at 19.6% from a current figure of $2.7 billion until 2026, when it is expected to be worth $6.7 billion, with North America holding the largest market share, while the Asia Pacific (APAC) region is expected to grow at a higher rate.
New methods and technology move to fore
As marketing efforts have evolved considerably over the past decade, and new methods and technology have moved to the fore, the advent of digital marketing and cloud computing has afforded marketers the ability and privilege to target very specific customers in their own homes, with the support of digital marketing leaders such as www.12handz.com.
The report “Cloud Advertising Market with COVID-19 Impact, by Component, Application, Organization Size, Deployment Model, Vertical and Region—Global Forecast to 2026” surveys some of the vital new opportunities such as social media marketing, email marketing, search engine optimization (SEO), pay-per-click, content marketing, mobile marketing, and marketing analytics, helping businesses analyse and reach their target audience.
Demand for personalised content and experiences is further driving the adoption of cloud advertising, with verticals such as consumer goods and retail, and media and entertainment, bringing new investment in cloud marketing technology.
Of the five major regions surveyed by geography—North America, APAC, Europe, MEA, and Latin America—North America commands the lion’s share of the cloud advertising market at 48%, while Europe (27%), APAC (15%), and the rest of the world (10%) fill up the second half.
The North American region is expected to hold its lead during the forecast period as marketing technology is deeply entrenched on the continent, led by the U.S. and Canadian economies. This area, additionally, commands a higher percentage of social media and smartphone users—U.S. penetration of mobile devices is 90%, followed by Canada—and advertising spending is considerably higher in these countries than any other.
According to Gartner Research, customer growth in the APAC region was 27.8% in 2020 and the software market grew 13% to a figure of $99 billion, adding $11 billion to the software market overall.
Platform segment projected to hold largest market share
Data analytics is rising in priority as marketers seek accurately to profile their target audience and optimise digital advertising for more efficient results. Targeted marketing is therefore driving consumer analytics and growing the cloud advertising market which is supporting marketing departments as they develop, manage, and implement campaigns boosting revenue growth.
By component, the cloud advertising market is divided into platforms and services, with the platforms segment projected to hold the largest market share during the forecast period. Online platforms afford organisations the ability to personalise and automate Web-based marketing campaigns, and this segment is projected to capture the largest market size during the forecast period.
Platforms work well delivering repetitive tasks such as social media information request follow-ups, after-sales support, emails at regular intervals, integrating data, building customer profiles, delivering instant content, reporting, and enabling collaboration with other team members.
Marketing tools such as testing and personalisation, analytics, omni-channel campaign management, content management, and data management are all hardwired into platforms, and they also bring artificial intelligence (AI) capability, crunching consumer data in real-time and the ability to modify display content on-the-fly.
Public cloud bringing simplicity and easy deployment.
Services offered via a free or subscription-based public deployment model are using the cloud for simplicity and easy deployment. Because investment capital for this model is minimal and managing the infrastructure outsource, the public cloud is expected to grow to the largest market share.
The benefits of the public cloud are that it is scalable, reliable, lower cost, flexible, and location independent. The major concern, however, is data security and some enterprises, therefore, are moving into private and hybrid cloud models.
Vendors worldwide are adopting organic and inorganic growth strategies, and these include partnerships and collaborations, mergers and acquisitions, new product launches, and enhancements, while some are deploying a blend of both to expand their customer base and market share.
The “Cloud Advertising Market” report profiles key vendors including Adobe, Oracle, Salesforce, Google, IBM, SAP, Acquia, Demandbase, and Experian, who are all stepping up to the dynamic market needs and partnering widely, implementing strategies to meet higher demand.
One data engineering cloud company capitalising on growth is Trifacta, which announced its continued expansion into Asia Pacific and Japan (APJ), with a new regional presence in Singapore and Bengaluru, India.
“I’m incredibly impressed with the depth of talent in the region and the entrepreneurial spirit of our India and APJ team. In just a short time, this group has substantially impacted Trifacta’s success. Continued investment in this region will be key for our continued innovation, and we are excited to bring on new team members across all departments and locations,” said Adam Wilson, Trifacta’s CEO in a press release.
