New York, Aug. 11, 2023 (GLOBE NEWSWIRE) -- As per the research report “Global Interactive Advertising Market” published by Consegic Business Intelligence, the market was worth USD 40.31 Billion in 2022 and is anticipated to reach over USD 122.31 Billion by the year 2030, growing at a CAGR of 15.3%.
Interactive advertising employs online or offline interactive media in order to communicate with consumers and to promote brands, products, services, or announcements. The benefits of interactive advertising including generation of higher-quality leads, expanded brand awareness, improved brand loyalty, higher conversion rates, and others, make it ideal for utilization in BFSI, media & entertainment, retail & e-commerce, education, and other industries.
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The rising penetration of social media is one of the key factors driving the market growth. Moreover, the growing consumer shift towards digital content for entertainment and learning activities along with rising penetration of social media users for content consumption are key factors fostering the adoption of interactive advertising. For instance, according to Meta, daily active users in Facebook reached approximately 2 billion as of December 2022, witnessing a growth of 4% year-over-year. Hence, rising penetration of social media is increasing the adoption of interactive advertising in social media platforms, thereby driving the growth of the market.
Additionally, the rising application of interactive advertising in media & entertainment sector is expected to promote potential opportunities for the growth of the interactive advertising market. Media & entertainment companies often utilize interactive advertising to reach a larger range of target audiences with its marketing content. Moreover, the ability of interactive advertising to enable entertainment companies to put movie and TV series trailers as advertisements on other videos helps in attracting its target audience, which is a primary determinant for increasing its utilization in media & entertainment sector. However, limitations and operational challenges associated with interactive advertising are hindering the growth of the market.
| Report Attributes | Report Details |
| Market Size By 2030 | USD 122.31 Billion |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 15.3% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| Key Players | Grey Advertising, Butler Branding, Crispin Porter Bogusky, Ogilvy, BBDO, Droga5, Wieden Kennedy, The Martin Agency, Shine Interactive, DEUTSCH, MullenLowe Global |
| By Type | Social Media Ads, Playable In-App Ads, Display Ads, Interactive Video Ads, and Others |
| By End-User | Media & Entertainment, BFSI, Retail & E-Commerce, Automotive, Education, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Interactive Advertising Market Growth Drivers:
- Rising penetration of social media is driving the market growth.
- Increasing adoption of interactive advertising in retail & e-commerce sector is spurring the market growth.
Restraints
- Limitations and operational challenges associated with interactive advertising is restraining the market growth.
Opportunities
- Rising application of interactive advertising in media & entertainment sector is expected to promote potential opportunities for market growth.
Global Interactive Advertising Market Segmentation Details:
Based on type, the social media ads segment contributed the largest shares to the market growth in 2022. The benefits of social media ads including increased brand awareness, in-depth analytics, higher conversion rates, improved brand royalty, increased lead generation, and others are primary aspects driving the growth of the segment. Additionally, the increasing utilization of social media ads in BFSI, retail & e-commerce, and media & entertainment industries is driving the growth of the social media ads segment.
Based on end-user, the retail & e-commerce segment accounted for the maximum revenue share in the year 2022. Interactive advertising is deployed by brands operating in the retail & e-commerce sector to bridge the gap between in-store and online shopping by providing consumers with interactive ads that are more entertaining and engaging. Factors including the rise in digitalization, growing consumer preference for online shopping, and increasing deployment of interactive marketing strategy by retail enterprises are among the key prospects fostering the growth of the retail & e-commerce segment.
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Based on region, North American region accounted for the largest revenue share in the year 2022. The growth of multiple industries including retail & e-commerce, automotive, media & entertainment, and other sectors is driving the growth of interactive advertising market in North America. Moreover, the increasing investments in retail & e-commerce and BFSI sectors among others are further boosting the growth of the market in the North American region.
Recent Developments
- In June 2022, Ogilvy announced the acquisition of Bower House Digital, a marketing service provider located in Australia. The acquisition aims at expanding and strengthening its capabilities for delivery of marketing solutions for customers in the Asia-Pacific region.
Key Market Highlights
- Globally, interactive advertising market is divided based on the type into social media ads, playable in-app ads, display ads, interactive video ads, and others.
- In the context of end-user, the market is separated into media & entertainment, BFSI, retail & e-commerce, automotive, education, and others.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
- North America and Asia-Pacific are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on advancements in interactive advertising market.
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List of Major Global Interactive Advertising Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• Grey Advertising
• Butler Branding
• Crispin Porter Bogusky
• Ogilvy
• BBDO
• Droga5
• Wieden Kennedy
• The Martin Agency
• Shine Interactive
• DEUTSCH
• MullenLowe Global
Global Interactive Advertising Market Segmentation:
- By Type
- Social Media Ads
- Playable In-App Ads
- Display Ads
- Interactive Video Ads
- Others
- By End-User
- Media & Entertainment
- BFSI
- Retail & E-Commerce
- Automotive
- Healthcare
- Education
- Others
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Key Questions Covered in the Interactive Advertising Market Report
- What is interactive advertising?
- Interactive advertising is a type of advertising that utilizes offline or online interactive media for communicating with consumers and for promoting brands, products, services, or announcements.
- What is the dominating segment in the interactive advertising market by type?
- In 2022, the social media ads segment accounted for the highest market share of 30.5% in the overall interactive advertising market.
- Based on current market trends and future predictions, which geographical region will have the largest impact on interactive advertising growth in the coming years?
- North America accounted for the largest revenue share in the year 2022. The increasing demand for interactive advertising from multiple industries including retail & e-commerce, automotive, and media & entertainment industries among others is driving the growth of the regional market.
- Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
- Asia-Pacific is anticipated to register fastest CAGR growth during the forecast period due to rapid pace of industrialization and growth of multiple industries such as retail & e-commerce, BFSI, media & entertainment, and others.
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