New York City, NY, 02 January, 2020/ 24 Market Reports: The global smart advertising market is estimated to grow with a CAGR of 19.9% during the forecast period of 2019 to 2025. In the year 2018, the market was valued at USD 655.8 million. Across multiple industry verticals such as automotive, gaming, entertainment, consumer goods and electronics the smart advertising is rapidly gaining popularity and is emerging as one of the most preferred forms of advertising for the enterprises. Interests, age and location are some of the attributes that smart advertising enables the marketers to target the audience effectively in comparison to other conventional forms of advertising.
Immersive media, device motion and AI are the three technological combinations of smart advertising which work together to help companies initiate and improve their customer engagement and help advertisers to drive consumers to the company’s special promotion page or an online store, among other things. Smart advertisement increases the conversation rate for the company by dynamically reacting to its environment by receiving and sending data over an information network and plays a significant role in inciting consumer interest.
Hardware segment to witness the growth at the fastest rate during the forecast period
Hardware, software and services are the segmentation for the market based on component. The hardware segment dominated the market in the year 2018 and is estimated to continue the domination throughout the forecast period. Owing to the increased installation of outdoor digital billboards as well as indoor digital posters and interactive kiosk networks by DOOH media companies worldwide, the segment is estimated to be the fastest-growing one during the forecast period.
Digital billboard segment to hold the highest share in the market during the forecast period
Interactive kiosk, digital poster, digital billboard and others are the segmentation for the market based on product. Owing to the increased focus of OOH media companies on replacing conventional billboards with smart digital billboards that have wireless connectivity and a variety of sensors the digital billboard segment is estimated to dominate the segment during the forecast period. These smart billboards offer a substantial revenue generation capability for the local municipalities and also are a major component of several smart city initiatives.
The corporate segment to draw the highest growth in the market during the forecast period
Corporate, government, education, food & beverages and others are the segmentation for the global smart advertising market based on the end-use industry. The corporate segment is estimated to emerge as the fastest-growing segment over the forecast period. It is also projected for the segment to dominate the market throughout the forecast period. The increasing number of creative and innovative advertising campaigns being executed by multi-national companies and large-scale enterprises with a significant global or regional presence is the factor driving the growth of the segment during the forecast period.
Asia Pacific region to emerge as the fastest-growing market during the forecast period
North American market dominated the global market in the year 2018 and the domination is estimated to continue over the forecast period. The presence of large manufacturers in the reason is the reason for the growth of the market in the region. The early adoption of emerging technologies for customer engagement and business growth are also the prime factors that are driving the growth of the market in the region. The Asia Pacific region is estimated to be the fastest-growing market over the forecast period.
The following are the major objectives of the study:
- To define, describe, and forecast the global smart advertising market on the basis of product, application and region.
- To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
- To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
- To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the global smart advertising market.
Critical Questions which the report answers:
- What are the major vendor/manufacturers in the market? What is their growth potential during next decade?
- What are the key revenue generating pockets for global smart advertising market and their future potential during next decade?
- How competitive landscape is evolving in global smart advertising market?
