SaaS Solutions to Drive Cloud Advertising Market Growth

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Market research firm, Research and Markets, has published a report on the global cloud advertising market. The report projects the market to grow from $78.19 billion in 2022 to $140.66 billion by 2026 at a compound annual growth rate (CAGR) of 16.3%.

Cloud advertising is a part of digital marketing where marketers use cloud platforms to manage campaigns, digital advertising, and workflows related to these activities. Cloud advertising apps connect advertising with CRM and marketing data. Using this unified data, marketers can craft personalized customer journeys, from acquisition to engagement, and customer service.

Moreover, cloud advertising apps make it easy to optimize ads for each online platform. Users can advertise directly on their preferred channels such as Facebook, YouTube, and Google Search. They can also integrate social media into other marketing platforms like email.

North America was the largest region implementing cloud advertising solutions in 2021. However, Asia Pacific will be the fastest growing region during the forecast period. Thus, vendors looking for growth opportunities could focus on the APAC region.

Key Drivers of Market Growth

One of the key drivers of market growth is the rapidly increasing number of internet users. As of the latest count, there are more than 5 billion people accessing the internet. That is 63% of the world’s total population. The increasing number of internet users is also the reason for increased engagement in cloud advertising. Companies are seeing more success in their campaigns using cloud advertising since the majority of their audience is already online.

Another growth driver is technological advancements. Due to the growing demand for cloud advertising, key players in the market continue to develop advanced features for their products. These advanced features leverage technologies like AI, data science, and machine learning. These technologies help marketers improve targetted customer advertisements, which in turn results in higher engagement in real time.

Aside from innovations, key players are also engaging in acquisitions. They acquire other companies in cloud advertising to strengthen their product capabilities. These mergers could continually help expand the cloud advertising market.

Saas Segment in Cloud Advertising

It’s not surprising to know that small and mid-size enterprises (SMEs) and large enterprises use cloud advertising. No matter the industry, businesses know that they need to utilize digital tools and cloud services to increase their online presence. The highest adopters of cloud advertising include retail, IT and telecom, media and entertainment, and banking and finance services.

Though cloud advertising consists of different services such as business process as a service (BPaaS), analysts expect SaaS to take a significant share of the market. By using SaaS cloud advertising apps, companies can access the best technologies for marketing and advertising without huge upfront costs. Traditional on-premise solutions not only require significant tech investments but also a dedicated IT staff to maintain the system.

With SaaS cloud advertising, marketers also experience several advantages that can make a huge difference in their marketing success. Most notable is the real-time data they receive through their cloud advertising platform. This means marketing teams no longer need to wait to get feedback from their audience. They can tweak their strategies based on data coming in from their media sources.

Also, having instant feedback helps in reputation management. If a social media ad is not getting good engagement, marketers can quickly act to revise it. Other benefits of SaaS cloud advertising apps include streamlined workflows for managing online ads, targeted outreach, and a 360-degree view of a customer’s profile.