Advertiser Campaign Management Software Market Trends

Growth Drivers

• Rapid Digitalization of Business Organization – For instance, worldwide digital transformation spending is projected to reach 1.7 trillion by the end of 2022 and this figure is expected to increase to 2.7 trillion by 2025. The market growth is expected to accelerate with increasing digitization in business organizations. As each company comes into the market for its product or services and to promote those products or services companies have to manage marketing plans effectively. Here, advertising campaign management software provides features that work on a data-driven approach and manages advertising campaigns effectively.
• Growth of Mobile Advertising Expenditure – For instance, mobile advertising spending globally was around USD 275 billion in 2021, which is projected to reach USD 395 billion by the end of 2024.
• Increasing Number of Business Organizations – For instance, there were about 32 million small businesses in the United States in 2021, which is a 2.3% increase from the previous year.
• Increased Research and Development Expenditure – According to World Bank data, global research and development expenditure as a ratio to gross domestic product (GDP) stood at around 2.63% in 2020, up from 2.2% in 2018.
• Rising Adoption of Social Media – For instance, as of July 2022, around 4.5 billion people worldwide use social media.

Challenges

• Internet Connection is Mandatory for Smooth Operation - There are many areas where people still do not have smartphones and internet facilities. This is estimated to hamper the growth of the market in the coming years. To operate the advertisement software a well-connected internet service is necessary to launch the advertisement on different websites and apps.
• Concern about Data Security and Privacy
• Less Awareness about the Benefits of the Product in the Market