Creative Management Platform Market Size, Share & COVID-19 Impact Analysis, By User (Advertisers & Agencies and Brands & Publishers), By Enterprise Type (Large Enterprises and SMEs), By Industry (Telecom, Retail & e-Commerce, Gaming, Travel & Tourism, Entertainment, and Others), and Regional Forecast, 2023-2030

The global creative management platform market size was valued at USD 998.8 million in 2022. The market is projected to grow from USD 1,053.0 million in 2023 to USD 1,777.3 million by 2030, exhibiting a CAGR of 7.8% during the forecast period.

Creative Management Platform (CMP) brings together various display advertising tools used by advertising and marketing professionals into one cohesive, cloud-based platform. These tools are included with ad design builders that enable cross-channel publishing, bulk dynamic creative creation, and collection of marketing data and analysis.

Personalizing a digital advertising campaign is a time consuming and expensive process; however, this task can be accomplished in a few days using a creative management platform. For instance, a leading delivery startup in partnership with Hunch created hyper-targeted campaigns for 8 countries across 400 locations. Using creative solutions, the brand produced 5,000 image and video ads in two hours, which usually takes five days.

Demand for creative management platforms is increasing among brands to provide customers with a personalized experience. According to an Amazon Ads and Omnicom Media Group survey, around 73% of respondents think ad experiences are more enjoyable when they feel personalized and relevant. According to survey by Epsilon, 80% of consumers are more willing to take advantage of offers from a brand that offers them a tailored experience.

COVID-19 IMPACT

Adoption of Creative Management Platform by Businesses Amid Pandemic Boosted Market Growth

The COVID-19 pandemic forced industries to function differently, from switching to remote working and telecommuting. Digital adoption and innovation have taken a quantum leap at the organizational and industry levels. According to industry experts, around 85% of businesses accelerated digitalization due to the pandemic as a part of their effort to deal with it. During the pandemic, internet usage surged by 25%, increasing usage of online websites and social media platforms helping customers to gain global insights. Businesses used this advantage to connect consumers through social media. Digital marketing became an essential supporting factor for businesses to advertise their products and shape a favorable perception in the minds of their customers. As a part of this trend, businesses increasingly adopted creative management platforms to advertise their products in more innovative ways on various social media platforms.

Therefore, the market is positively impacted by COVID-19, providing companies to offer more creative ad content to their customers. 

LATEST TRENDS

Demand for AI-powered Creative Management Platform is Driving the Market Growth

The tools developed using AI have greatly improved the efficiency and accuracy of creative processes. These tools can examine vast amounts of data, proofread, generate new ideas, music, and videos, and execute them more efficiently. AI trained on ad performance data can detect falling engagement or other issues related to CTR, CPC, conversions, quality score, and bounce rate. Creative platforms analyze data and produce detailed insights that help marketers to level up advertising campaigns and save budgets.

Artificial Intelligence (AI) models play a crucial role in identifying attention-grabbing elements in images and cropping them for cross-channel distribution. Predictive algorithms are utilized to assess effectiveness of digital assets and superior performance results. Businesses adopt AI models for automatic cropping and resizing as it accelerates creative production by 75%. Moreover, companies are utilizing machine learning algorithms to analyze impressions to optimize programmatic buys. AI-powered creative solutions connect with DSPs and ad servers to offer flexibility in buying strategy and campaign.

AI-powered solution allows to create data driven creatives to increase conversion rate and improve CTR. By identifying specific challenges or concerns this technology builds creatives that cater to the audience's preferences and needs. The platform supports the creation of texts, ads, headlines, and social creatives, while giving access to insights to users. This data-driven approach allows businesses to propose up to 14x higher conversion rate and easily integrates with Facebook, Google, Zapier, and other platforms.

Thereby, the demand for AI-powered solutions is driving the creative management platform market growth. 

DRIVING FACTORS

Automation of Advertising Campaigns to Propel the Market Growth

Automation plays an important role in several industries. According to a survey by Smartsheet, around 86% of respondents stated that automation in the workplace makes employees more efficient and productive. Thereby, players in the market are focused on building their own template automation engine to create templates without overloading them with specific coding or design tasks. Brands can create various static and dynamic ads and optimize them on the fly across different channels and formats.

A diverse range of tools provides creative automation, each its unique distinctive capabilities and features. Some popular creative automation tools include BannerFlow, Creatopy, and Celtra. Automated advertisements tailor the creative using templates to match the brands' guidelines, ensuring advertisements meet their standards. Automating the advertisement creation process helps the marketing team to focus on strategy and analytics and makes it easy to align marketing campaigns and collect data.

Thus, automation of advertising campaigns is driving market growth.

RESTRAINING FACTORS

High Load Resistance to Hamper Market Growth

Seasonal advertising campaigns with increasing creative counts cause load fluctuations. Rendering 30,000 to 40,000 creatives makes creative management platforms heavy projects that require scalable designs. Retailers run large promotional campaigns on busy shopping days such as Black Friday and Christmas. The total number of creatives can reach 50,000, exceeding storage and data processing limits.

Failure to manage load fluctuation can lead to performance issues. Therefore, it is essential for the team to consider and take appropriate measures to detect and resolve load management issues to avoid disruption in marketing campaigns. Thus, the above factor is hampering the market growth.

SEGMENTATION

By User Analysis

Adoption of Creative Management Platform for Brand Promotion to boost Segment Growth

Based on user, the market is categorized into advertisers & agencies and brands & publishers.

Brands & publishers segment dominated the market in 2022 and is expected to grow with a high CAGR during the forecast period. Brands & publishers use creative platforms to automate processes and reduce ad creative production time. According to Bannerwise, using the creative platform saves brand’s 90% of the time they spend producing and distributing creatives. In addition, the growing need for brand promotion with creative content has increased the demand for creative platforms among various brands.

Advertisers & agencies segment is also estimated to grow with a steady growth rate during the forecast period. The platform helps advertisers to gain benefits, including better ROI, centralized control, turnaround time, and high flexibility in creative deployment. The platform provides advertisers and agencies freedom from monotonous tasks and ensures compliance with different media channels.

By Enterprise Type Analysis

Increasing Demand of Creative Solution among Large Enterprises is Enhancing the Market Growth

By enterprise type, the market is segmented into SMEs and large enterprises.

Large enterprises segment dominated the market in 2022 and is expected to grow with a high CAGR during the forecast period. Large enterprises adopt the creative solution to create, manage, and deliver digital advertising and marketing campaigns. Creative solutions also help large enterprises to streamline their creative processes and improve the quality of their creative content in an era where digital marketing and advertising play a crucial role in the success.

SMEs segment is predicted to witness steady growth in the coming years as they often have a restricted budget and need affordable solutions to manage their creative processes.

By Industry Analysis

Adoption of Creative Management Platform for Creating Multiple Ads to Showcase High CAGR in TraveI & Tourism Sector

By industry, the market is classified into telecom, retail & e-commerce, gaming, travel & tourism, entertainment, and others.

Travel & tourism segment is expected to showcase high growth in the coming years. When integrated with digital asset management, creative solutions offer additional capabilities for editing, reviewing, batching, and publishing assets to different distribution channels. This integration will therefore benefit tourism in many ways. Creating multiple ad variations for campaigns can be repetitive, tedious, and time consuming. Preferably, a CMP uses a template and creates several derivatives by automatically selecting the most suitable image or video from the digital asset management to include promotional offers and advertisement copy and delivers targeted advertisements to audiences.

Retail & e-commerce segment generated maximum revenue in 2022 and is expected to witness growth in the coming years. CMP gives retailers the creative ability to meet diverse inventory needs and create more relevant ad variations that perform better for specific audiences. Retailers focus on changing creatives based on buyer personas and purchase paths, keeping creatives updated over time. The companies also advertise across product lines and diversify their messaging.

Therefore, the adoption of creative management platforms is increasing among industries.

REGIONAL INSIGHTS

Geographically, the market is studied across five major regions, North America, South America, Europe, Middle East & Africa, and Asia Pacific. They are further studied across countries.

North America held the largest creative management platform market share in 2022, owing to the presence of major brands, publishers, and advertising agencies. According to Oberlo study, the U.S. digital ad spending is estimated to reach USD 271.2 billion in 2023, an 11.2% increase from 2022. This is one of the major reasons for the growth of the market in the region. Industries, including entertainment, travel & tourism, and retail grew faster in the region after the pandemic and demand for CMP is increasing among these industries.

Asia Pacific is expected to grow with maximum CAGR owing to the rising popularity of digital advertising in the region. The number of internet users in Asia Pacific exceeds 2.5 billion, which is about 55% of all internet users and has the world’s highest number of internet users. As a result of the global pandemic, the region has also undergone a massive and rapid digital transformation in recent years. The spread of the internet and changes brought about by digital transformation have ushered in major developments in digital marketing. Due to this, the demand for creative solutions among companies is increasing in the region.

The Europe market growth is owed to the steady increase in corporate digitalization and the emphasis on targeted marketing opportunities for vendors to enhance their market presence and meet the need for effective creative management solutions as the digital advertising landscape is changing continuously in the region.

The Middle East & Africa and South America regions are also expected to witness steady growth over the forecast period. The steady increase in corporate digitalization and the emphasis on targeted marketing are the factors that are contributing to growth in South America and the Middle East & Africa.

KEY INDUSTRY PLAYERS

Key Providers are Adopting Various Growth Strategies to Enhance their Market Share

Major players focus on adopting product launches, partnerships, acquisitions, and other strategies. Also, with strategic partnership and collaboration, the market players provide the enterprises with innovative product offerings and advanced features. The acquisition strategy is rising, considering the players' aim to enhance their global presence and expertise. For instance,

July 2022 – Ad-Lib.io announced the release of the next generation of Personalize cookieless platform for creative management, creative intelligence, and media alignment all in one place.

List of Key Companies Profiled:

• Celtra (U.S.)


• Frontify (Switzerland)


• Ad-Lib.io (London)


• Adzymic Pte Ltd. (Singapore)


• Bynder (Netherlands)


• Marin One (U.S.)


• AdCreative.ai (France)


• Bannerflow (Sweden)


• Inspired Thinking Group (ITG) Limited (Netherlands)


• Adobe Advertising Cloud (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• May 2023 – Inspired Thinking Group acquired Review Studio to streamline content marketing and bring the Review Studio’s capabilities to an exciting new roaster of global companies.


• May 2022 – Adzymic launched a Smart Template solution that helps advertisers to automate creative production and adaptation across multiple sizes and formats easily and quickly without compromising brand consistency. 


• April 2022 – Adobe launched Frame.io, a video collaboration platform for Creative Cloud that helps video editors and key project stakeholders to collaborate seamlessly in the cloud.


• January 2022 – Smartly.io has acquired the next-generation creative optimization platform, Ad-Lib.io. The acquisition extends the company’s cross-channel range from social to programmatic, CTV, and dynamic creative optimization across the Google ecosystem.


• December 2021 – Adobe introduced a unified task-based web and mobile product, Creative Cloud Express. The product helps to create and share multimedia content from marketing materials such as banners, logos to social media posts.

REPORT COVERAGE

The market research report provides a detailed analysis and focuses on key aspects such as leading companies, product/service types, and leading product applications. Besides, the report offers insights into the market trends and highlights key industry developments. In addition to the factors above, the report encompasses several factors that contributed to the growth of the market in recent years.

REPORT SCOPE & SEGMENTATION