Global Smart Advertising Market: Overview
Smart advertising refers to ads with the latest technology. With smart ads, companies can easily target their audience based on demographics, geography, psychology, and many more. Smart ads gain popularity in recent years with rapidly growing technology. Smart ads respond effectively to changing consumer behavior and preferences. They are more flexible and adaptable as compared to other forms. The global smart advertising market is forecasted to register the highest CAGR in the coming years.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Global Smart Advertising Market: Growth Factors
Many factors are contributing to the growth of the global smart advertising market. Technological advancement is the most significant factor responsible for the growth of the global smart advertising market. The development of Artificial Intelligence, machine learning, and sensor fusion enable companies to identify their key potential consumers. The Data Analytics feature enabled advertisers to deliver customized content to engage users.
The emerging concept of combining three technologies naming immersive media, artificial intelligence, and device motion in one to launch effective campaigns to improve consumer engagement rates and drive significant growth in the global smart advertising market. The advertising industry is gradually shifting to real-time bidding models and programmatic media. The advancements in these technologies anticipated the growth of ad networks, demand-side platforms, and supply-side platforms that led to massive growth in automation services of the smart advertising market.
The increase in the number of smart city initiatives is a major growth factor in the smart advertising market. It has transformed many regional markets.
Global Smart Advertising Market: Segmentation
The global smart advertising market segmentation is based on component, product, end-use, and region.
The component segment can further be bifurcated into hardware, software, and services. The hardware segments hold the largest market share from the past years, and it is forecasted to be the fastest developing segment with an increase in digital media companies worldwide.
The product segment is bifurcated into interactive kiosks, digital posters, and digital billboards. The digital billboard holds the largest market share in the global smart advertising market. Due to the advancement in out-of-home ads, there is a significant shift from traditional billboards to digital billboards. The smart billboards have Wi-Fi connectivity features and several sensors towards smart ads initiative.
The digital poster is an emerging segment in recent years. There is a significant spike in the deployment of digitalization posters in private and commercialized locations like community centers, business centers, and shopping malls.
The end-user segments can further be bifurcated into the corporate, education, government, and foods & beverages. The corporate sector holds the largest share in the global smart advertising market, and it is forecasted to be the dominant segment in the coming years. Increasing innovative and engaging advertising campaigns launched by multinational companies is attributed to the growth of this segment.
Global Smart Advertising Market: Regional analysis
North America accounts for the largest share in the global smart advertising market. High-paying companies and high-speed internet services are attributed to the growth in the market. Adoption of advanced technology for audience engagement is the key growth driver in the North American markets.
The focus of multinational companies on emerging economies like India and China to establish the brand presence had boosted the market in the Asia Pacific. High penetration of internet services at affordable prices and continuous investment in infrastructure to give high-speed internet service had boosted the growth of this region.
Global Smart Advertising Market: Competitive Players
Some of the leading players in the global smart advertising market are Outfront Media Inc., Intersection, Changing Environments Inc., Include Ltd., IKE Smart City, CIVIQ Smartscapes, and Captivate LLC.
Many other companies are striving to gain a competitive edge by enhancing their networks of digital display and giving better smart ads services.
There are few companies like JCDecaux, which are adopting acquisition and merger strategies to expand its operations in potential markets and focus on improving the global business network.
Global Smart Advertising Market: Regional Segment Analysis
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