The global smart advertising market size is expected to reach USD 2,175.8 million by 2025, registering a CAGR of 19.4% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. The capability of smart advertising to deliver highly customized multimedia content to target customers is a key factor anticipated to drive market growth over the forecast period. Furthermore, the increasing consumption of digital media in comparison to conventional printed billboards and posters by the consumer has led to an increased demand for smart advertising.
The
growth of high-speed broadband and wireless 4G and 5G internet connectivity has
enabled Digital Out Of Home (DOOH) media companies to stream high-resolution,
customized, and interactive multimedia content to consumers through digital
posters and billboards. Technological advancements such as Bluetooth Low Energy
(BLE) beacons and geofencing have enabled DOOH advertising companies to offer
personalization and tracking functionalities to advertisers. Apart from content
personalization, the immersive experience offered by high-resolution digital
displays has been successful in increasing customer engagement and stimulating
purchase desire. In the current visually-cluttered digital environment, smart
advertising has enabled companies to develop a creative, innovative, and
improved DOOH advertising strategy using a network of digital displays, digital
posters, and interactive kiosks.
The
increasing focus of multinational companies to tap the rapidly growing Asia
Pacific markets such as India and China is also expected to propel market
growth. Furthermore, DOOH media companies are aggressively deploying new networks
of digital displays to cater to the growing demand of advertisers. The
increased focus of several countries in the Asia Pacific region on the
development of high-speed internet infrastructure as part of smart city
initiatives is also expected to drive the demand for smart advertising and
digital billboards over the forecast period.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/smart-advertising-market
Further key findings from the study suggest:
- In terms of
component, the hardware segment is anticipated to emerge as the
fastest-growing segment over the forecast period. This can be attributed
to the increasing deployment of digital billboards, digital posters, and
interactive kiosks at public places such as airports, stations, and
highways
- In terms of
product, the digital poster segment is anticipated to gain traction over
the forecast period owing to their growing deployment in private and
commercial locations such as business centers and shopping malls
- In terms of
end use, the corporate segment is expected to witness the fastest growth
over the forecast period. This is attributed to the increasing number of
highly customized and creative advertising campaigns undertaken by
corporates to increase consumer engagement and drive sales
- The Asia
Pacific regional smart advertising market is expected to register the
highest CAGR over the forecast period. This can be attributed to the high
expenditure on marketing by multinational companies that are striving to
establish a strong presence in the emerging economies of India and China
- Key players
operating in the market include OUTFRONT Media Inc., Lamar Advertising
Company, CIVIQ Smartscapes, JCDecaux Group, Clear Channel Outdoor
Holdings, Inc., Include Ltd., Intersection, Changing Environments Inc.,
IKE Smart City, Exterion Media (UK) Limited, and Captivate, LLC
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
No comments:
Post a Comment