The Latin America, Middle East and Africa Cloud Advertising Market would witness market growth of 23.7% CAGR during the forecast period (2021-2027).
There is an increase in the adoption of cloud advertising solutions by the customers, especially large enterprises and small & medium enterprises, which is surging the growth of the cloud advertising market over the forecast period. The growing popularity of big data across several business domains is motivating enterprises to adopt such solutions to carry out their business activities, more efficiently and effectively.
The presence of several market players along with the entrance of new players is making the competition stiff in the cloud advertising market. The increasing requirements for organizing the user journey and automatically improving the marketing campaigns are among the key aspects that contributed to the increasing adoption of cloud advertising & services within various industrial verticals like IT & telecom, education, travel & hospitality, retail & e-commerce, and BFSI. In addition, the high adoption of cloud advertising by small and medium enterprises has supported the demand for customer data management, content management, and analytics.
Enterprises across different verticals are increasingly inclining towards the adoption of cloud-based services and solutions, which is supporting the growth of the regional cloud advertising market over the forecast period. Additionally, the increasing importance of advertising in the product lifecycle is motivating more companies to adopt these cloud advertising solutions that would bolster the growth of the regional market.
Moreover, companies are majorly adopting cloud-based advertising production services because such solutions do not require constant upgradations, and thus, marketers do not need to worry about getting outdated. Cloud advertising opens up various opportunities for the companies and also helps them to expand their market reach and thus, the demand for these solutions is estimated to surge in this region during the forecast period.
The Brazil market dominated the LAMEA Media & Entertainment Cloud Advertising Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $22.7 million by 2027. The Argentina market would witness a CAGR of 25.7% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 24.6% during (2021 - 2027).
Based on Component, the market is segmented into Platform (Without Services) and Services. Based on Application, the market is segmented into Customer Management, Campaign Management, Experience Management, Analytics & Insights and Real-Time Engagement. Based on Deployment Type, the market is segmented into Public Cloud and Private Cloud. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into Retail & Consumer Goods, BFSI, Media & Entertainment, Education, Travel & Hospitality, Telecom, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Cloud Advertising Market is Predict to reach $7.2 Billion by 2027, at a CAGR of 18.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, SAP SE, Oracle Corporation, Google LLC, Salesforce.com, Inc., Adobe, Inc., Experian PLC, Acquia, Inc., Demandbase, Inc., and Imagine Communications, Inc. (Harris Broadcast).
By Component
By Application
By Deployment Type
By Enterprise Size
By End User
By Country
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