New York, USA, June 08, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global in-game advertising market is estimated to garner a revenue of $17,591.6 million by 2030 and grow at a CAGR of 11.0% over the forecast period from 2022-2030. The extensive report provides a concise layout of the in-game advertising market’s current framework including prime aspects of the market, such as growth elements, challenges, restraints, and various opportunities during the predicted timeframe of 2022-2030. The report also provides all the market figures to help new participants analyze the market easily.
Dynamics of the In-game Advertising Market
Drivers: People’s growing interest in social media and mobile gaming are the main factors expected to drive the growth of the global in-game advertising market during the forecast years. In addition, the growing strategic acquisitions and business expansion by prominent market players is also predicted to boost the market growth by 2030. Moreover, growing partnerships between advertisers and video game companies is also projected to bolster the market growth.
Opportunities: In the recent years, multiple businesses have advertised their services in the video game industry that is anticipated to create abundant growth opportunities for the global in-game advertising market by 2030. Moreover, people’s high disposable income in the developing regions is uplifting the utilization of smartphones, thus positively affecting the market growth during the analysis timeframe.
Restraints: Increasing number of distracted and unrelated advertisements for social media and online gaming is the major factor estimated to hinder the market growth.
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Covid-19 Impact on the In-game Advertising Market
While the world faced unprecedented times and several businesses were thrashed during the pandemic chaos, however, the global in-game advertising market has witnessed a significant growth. The rising number of online gamers across the world and the popularity of games like Animal Crossing are some factors expected to drive the market growth. In addition, due to the increasing number of affected patients and the severe symptoms of the coronavirus, governments across the world decided to impose strict lockdowns that prompted businesses to attract clients through internet marketing strategies and participating in online partnerships or advertisements. This is also predicted to uplift the in-game advertising market growth.
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Segments of the In-game Advertising Market
The report has divided the market into a few segments based on type, device type, and regional analysis.
Type: Static Ads Sub-segment to be Highly Dominant
By type, the static ads sub-segment of the global in-gaming advertising market is anticipated to hold a dominant market share and gather a revenue of $8,033.2 million during the forecast period. This immense growth is attributed to the increasing usage of static ads by developers to promote their games and their ability to have a greater impact on customers in less time. Static ads can be easily integrated in games and are highly compatible with both mobile and desktop games. The questions of such ads allow the players to interact with the advertisement, thus propelling the sub-segment’s growth by 2030.
Device Type: Smartphone/Tablet Sub-segment to be Have Significant Growth Rate
By device type, the smartphone/tablet sub-segment of the in-game advertising market is estimated to have a prominent growth rate of 11.9% CAGR during the 2022-2030 forecast period due to the surging demand for mobile gaming and social media, high-speed internet connectivity, expanding reach, and the ease with which advertisements can be configured with social gaming. Furthermore, these advertisements are non-intrusive and allow the players to have a more enjoyable experience, thus helping game developers in the adoption of in-game advertising services. These factors are expected to bolster the sub-segment’s growth by 2030.
Region: In-game Advertising Market in the North America Region to Witness Better Growth Opportunities
By regional analysis, the in-game advertising market in the North America region is predicted to have the highest market share and generate a revenue of $5,731.3 million by 2030 due to growing investments in online advertising and the presence of large gaming population. Moreover, emerging trends and technologies are constantly changing the industry at a rapid pace that further ease the adoption of online and in-game advertising services, thus augmenting the market growth. Additionally, the increasing internet penetration and the rising use of digital platforms is also prompting vendors to allocate large budgets to the advertising agencies, thus further uplifting the market growth in the North America region by 2030.
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Key In-game Advertising Market Players
Some prominent in-game advertising market players include
- RapidFire Inc.
- Motive Interactive Inc.
- Anzu Virtual Reality Ltd.
- WPP Plc.
- Alphabet Inc.
- Electronic Arts Inc.
- MediaSpike Inc.
- ironSource Ltd.
- Blizzard Entertainment Inc.
- Playwire LLC, among others.
These key players are undertaking various strategies such as product development and enhancement, merger and acquisition, partnerships and collaborations to sustain the market growth. – Inquire here for the access of key business development strategic Report
For example, in May 2021, Riot Games, a leading US-based video game developer, e-sports tournament organizer, and publisher, announced its addition of the digital advertisements to the League of Legends, Summoner’s Rift. This strategic product portfolio development on an in-game map is projected to boost the market growth.
The report also summarizes many important facets including financial performance of the key market players, SWOT analysis, product portfolio, and the latest strategic developments.
More about In-game Advertising Market:
- 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
- In-game Advertising: Helping Enterprises to Reach their Audiences with Entertainment
- Immaculate Benefits of In-game Advertising in the Modern World
