New York, USA, March 30, 2023 (GLOBE NEWSWIRE) -- Research Dive has published a new report on the global in-game advertising market. According to the report, the global market is projected to surpass $17,591.6 million and grow at a CAGR of 11.0% in the estimated period, 2022–2030. This all-inclusive report delivers a comprehensive overview of the current and future situation of the in-game advertising market by stating its main characteristics including growth drivers, growth opportunities, limitations, and developments in the forecast period. The report also offers all the required and vital market statistics to help new players obtain an insight into the status of the global market.
Impact of the COVID-19 Pandemic on the In-game Advertising Market
The outburst of the COVID-19 pandemic in 2020 has had a positive impact on the growth of the global in-game advertising market. During the pandemic, one of the factors contributing to the market’s expansion is the engagement, diversity, and growth of the gaming community. Individuals were forced to stay at their homes owing to the implementation of lockdown; this boosted the popularity of in-game advertising. Furthermore, with the extension of lockdown period, more people got involved in social networking sites and online portals, which led to an increase in online users and streaming during the pandemic. All these factors fueled the market growth during the pandemic.
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Factors Impacting the Market Growth
The key factor boosting the growth of the global in-game advertising market is a significant rise in the popularity of in-game advertising owing to the growing number of gamers and increasing number of smartphone users. Furthermore, the increasing disposable income and rising middle-class population in developing countries are some of the factors driving smartphone demand, which is estimated to unlock lucrative opportunities for market growth in the forecast period. However, a rise in the number of irrelevant and annoying online and social gaming marketing is anticipated to deter the market’s growth.
The report segments the global in-game advertising market into type, device type, and region.
Static Ads Sub-Segment to Grab a Foremost Share of the Market
The static ads sub-segment of the type segment is foreseen to observe leading growth and garner $8,033.2 million by 2030. This growth is mainly because game developers are increasingly employing static advertisements as a marketing approach.
Smartphone/Tablet Sub-Segment to Witness Rapid Growth
The smartphone/tablet sub-segment of the device type segment is predicted to grow enormously and hit $7,873.1 million by 2030. This growth is mainly owed to the growing adoption of smartphones and tablets, surging need for mobile gaming and social media, expanding reach & ROI, increasing internet availability, and the ease with which social gaming advertisements may be set up.
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North America Region to Perceive Maximum Growth
The report analyzes the global in-game Advertising market across several regions such as North America, Asia-Pacific, Europe, and LAMEA. Among these, the North America market is projected to observe significant growth and hit $5,731.3 million by 2030. This growth is mostly due to the widespread popularity of online games and rising spending by brands for advertising on social networking sites and gaming apps in this region.
Prominent Market Players
The report states some of the foremost players operating in the global in-game advertising market including
- Anzu Virtual Reality Ltd
- Alphabet Inc
- Electronic Arts Inc
- Blizzard Entertainment Inc
- ironSource Ltd
- MediaSpike Inc
- Playwire LLC
- Motive Interactive Inc
- WPP Plc
- RapidFire Inc
These players are taking various initiatives such as investing in novel product launches, strategic alliances and collaborations, etc. to obtain a leading edge in the global market.
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For instance, in December 2021, Sayollo, a pioneer of in-game advertising, launched gComm, a new in-game purchasing platform for mobile game developers and retailers.
Also, the report provides numerous industry insights such as top strategic initiatives & developments, the novel launch of products, business performance, Porter’s five forces analysis, and SWOT analysis of the foremost players, functioning in the global market.
More about In-game Advertising Market:
- In-game Advertising: Helping Enterprises to Reach their Audiences with Entertainment
- Product Launches and Strategic Collaborations Partnerships by Market Players such as Playwire, Adverty, and Others to Foster the Growth of the Global In-game Advertising Market
