PUBLISHER: SkyQuest | PRODUCT CODE: 1285934
PUBLISHER: SkyQuest | PRODUCT CODE: 1285934
Cloud Advertising Market size was valued at USD 81.78 billion in 2021 and is poised to grow from USD 82.2 billion in 2022 to USD 111.76 billion by 2030, growing at a CAGR of 4.9% in the forecast period (2023-2030).
The global cloud advertising market has been experiencing substantial growth in recent years. With the increasing adoption of cloud computing and digital advertising, businesses are leveraging cloud-based platforms to enhance their marketing strategies. Cloud advertising offers scalability, flexibility, and cost-effectiveness, enabling companies to reach their target audience more efficiently. As technology continues to evolve, the global cloud advertising market is expected to witness further expansion, presenting new opportunities for advertisers to promote their products and services.
Top-down and bottom-up approaches were used to estimate and validate the size of Cloud Advertising and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The Global Cloud Advertising Market is segmented based on service type, user group, deployment type, end-user, and region. Based on Service Type it is categorized into Infrastructure as a Service (IaaS), Software as a Service (SaaS), Platform as a Service (PaaS), Based on User Group it is categorized into SMEs and Large Enterprises, Based on Deployment Model it is categorized into Public Cloud, Private Cloud, Hybrid Cloud, Based on End User it is categorized into BFSI, Government, IT & Telecommunication, Media & Entertainment, Retail Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
The market for cloud advertising is being propelled by the increasing adoption of smartphones, widespread internet access, and the growing consumption of digital media. These factors are expected to expand the global online user base and create new growth opportunities for the cloud advertising market. As more items become digital and high-speed internet access becomes available to smartphone users, the demand for cloud advertising is likely to increase, offering lucrative prospects for key players in the market.
Restraints
The rising demand for cloud advertising is accompanied by an increased need for user data collection across various channels. To ensure a high level of security in cloud advertising, regulatory authorities have implemented norms and regulations. While these rules serve as strict safety measures, they may also act as restraints on the growth of the cloud advertising industry.
Trends
The cloud advertising market experienced a boost during the COVID-19 pandemic. Government-imposed lockdowns resulted in the closure of numerous physical establishments, leading to increased reliance on e-commerce platforms for product selection and online shopping. The pandemic's impact on businesses, which were unable to operate from offices or retail spaces, further accelerated the shift towards digital platforms. Consumers flocked to digital platforms for news, entertainment, education, and staying connected with friends and family.