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Posted in Networks & Technology by Adolf on May 31,2022 1369
While browsing your favourite social media sites, have you ever noticed any advertisements in the form of pop-ups or regular pages from popular shopping sites such as Amazon, Myntra or Flipkart? I am sure you must have. This is a part of Cloud Advertising.
We are all living in the sphere of the internet and it has transformed our lives in many new ways. Since we will be discussing about an important factor of the internet i.e. cloud advertising in our blog, how about we first let our readers know about what a Cloud is. To explain in simple terms, it is a server where data and programs can be stored and accessed on the internet, instead of our computers. The data can be accessed through a web-browser using any device with an internet connection.
Coming back to Cloud Advertising, it is a new method of online marketing. The service system manages the operation and delivery of advertisement and ad-related data, based on the content accessed by the end-user. There is a lot of flexibility offered by cloud-based advertising services. Advertisers can update and manage campaigns in real-time. Rather than maintaining and working on multiple or heavy files, it allows the production team to work more efficiently from a single cloud-based platform. Also, it allows working from anywhere, which is ideal for teams working remotely around the world. To experience these benefits, many advertisers are moving to the Cloud to improve their work and productivity.
Getting to know Cloud Advertising Better –
The Global Cloud Advertising Market size is expected to grow at a CAGR of 19.6% during the forecast period, to reach US$ 6.7 billion by 2026 from US$ 2.7 billion in 2021. Marketing has evolved to a great extent in the past decade; new forms of marketing have taken over with continuously upgrading tools. Marketers can target the specific customer they want from the comfort of their homes. Outdoor marketing is no longer the only medium to reach the targeted audience; nowadays, marketers can market their products and services to the target audience they like. Different forms of marketing can help end users reach the exact kind of customer they want. Different types of marketing, such as social media marketing, email marketing, etc., help end users analyse the target audience. Data analytics provide marketers accurate details of their target audience so that advertising can be optimized and lead to efficient results. This increasing demand for targeted marketing and consumer analytics bolsters the growth of the cloud advertising market.
The cloud advertising market covers platforms and services. The platforms segment is projected to hold the largest market share during the forecast period. Cloud advertising helps companies create, manage, and execute customer engagement to drive revenue growth across industries. Platforms allow organizations to create personalized and automated web-based marketing campaigns across touch-points, such as email, social media, web, and mobiles. They manage repetitive tasks associated with campaign follow-ups and send one-pagers and emails at regular intervals. They also provide integrated data, build customer profiles, make instant content delivery and reporting, and help collaborate with other team members. Platforms have a complete set of marketing tools, such as omni-channel campaign management, content management, data management, testing and personalization, and analytics. They offer capabilities such as AI technology to analyse consumer data in real-time and modify the content to be displayed. Cloud advertising uses data science and machine learning algorithms to boost conversion, visitor engagement, and loyalty.
The deployment model segment includes public cloud and private cloud. The public cloud segment holds the largest market share in 2021. Public cloud is built on the cloud computing model, which shares resources (such as CPUs, servers, and racks) among various businesses, depending on the demand. In the public deployment model, various resources, such as applications, storage, virtual servers, and hardware, are available to client enterprises over the internet. The services offered over the public deployment model are either free or subscription-based. The advantages of using the public cloud include simplicity and ease of deployment. Moreover, there is minimum initial investment required for this deployment and there are no responsibilities involved in managing the infrastructure. The public cloud offers various benefits to organizations; these include scalability, reliability, flexibility, utility-style costing, and location independence services. The major concern about the public cloud is data security, and due to this reason, several enterprises are moving toward private and hybrid cloud models for their cloud operations.
North America is estimated to hold the largest market size in 2021 and the trend is expected to continue till 2026. The region is expected to hold the largest market size, as the cloud marketing technology already has a strong presence here. It constitutes developed economies: the US and Canada. The early adoption of digital marketing, the presence of top players, and globalization of cloud services in North America are expected to drive the cloud advertising market. Enterprises in the region are investing heavily in digital marketing initiatives and improving customer experience. In North America, the percentage of social media users, smartphone users, and ad spending is exceptionally high compared to other regions. It provides marketers with a strong channel to target potential customers. Verticals, including consumer goods and retail, and media and entertainment, are expected to invest in cloud marketing technology.
Vendors have adopted several organic and inorganic growth strategies, such as new product launches and enhancements, partnerships and collaborations, and mergers and acquisitions, to strengthen their presence in the cloud advertising market. They have been adopting a combination of organic and inorganic growth strategies to expand their customer base and market share. Service enhancements to meet dynamic market needs and partnerships have been the active strategies implemented by the major vendors in recent years.