Media Planning Software Market Opportunities, Growth Rate and Future Demand
Globally, market to grow at a CAGR of 10.01% in the forecast period, providing numerous opportunities for industry participants to invest in research and development of the media planning software market. The global media planning software market is expected to display higher growth rate over the next five years. Rapid surge in media planning software market is credited to the increasing demand for cloud-based media planning applications. Increasing penetration of smartphones, tablets and other handheld devices is expected to fuel market demand for media planning software over the forecast period.
Increasing adoption of advanced media planning software along with event planning tools to calculate & evaluate media plans are predicted to foster market growth in the upcoming years. Globally, market to grow at a CAGR of 10.01% in the forecast period, providing numerous opportunities for industry participants to invest in research and development of the media planning software market.
In addition, early adoption of media planning software offer implementation of proper standards and synchronization of business processes across the company. The media planning software is capable of creating the layouts and calculations in a template form. These layout and templates are exported via business unit. Growing importance of cloud-based media planning software among large-scale enterprises and small & medium-sized businesses is the key market trend associated with media planning software industry.
Several advantages of media planning software include development of comprehensive media billing and workflow system, and generation of layouts & business templates. Development of advanced media planning software solutions such as Bionic and Advantage are anticipated to boost market demand over the coming years. Additionally, use of Bionic and Advantage as complementary products are expected to favor market growth over the forecast period. Lowered cost and increasing awareness among small enterprises are estimated to offer new market revenue for media planning software market over the next five years.
The market is broadly categorized into three major segments based on the product type such as web-based software solutions, cloud-based software solutions and on-premises software solutions. Cloud-based software solutions segment is growing rapidly in the substantial revenue generation in the last few years. Growing popularity of cloud-based software solutions segment is attributed to the increasing demand from Asia-Pacific region.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in enterprise sector, surge in number of research & development activities in the region and existence of well-established industrial infrastructure. In European region, Germany, France, and United Kingdom are projected to witness steady growth due to high-end demand for media planning applications and rising support for media cost method.
Asia-Pacific region is estimated to hold major share in the media planning software industry with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with strong economic growth, presence of large number of small & medium-sized business, and significant investment by leading industry players considering potential growth opportunities in the region.
The key players in the media planning software market are Comscore, Inc., SAP SE, Centro, Inc., Strata Co., SQAD, Inc., Telmar Group, Inc., BluHorn LLC, Bionic (NextMark), Inc., Mediatool Corp., and ReMags GmbH.
Firma: Million Insights
Ansprechpartner: Tom Clark
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