New York, United States , July 30, 2024 (GLOBE NEWSWIRE) -- The Global Retail Media Networks Market Size is to Grow from USD 20.00 Billion in 2023 to USD 36.54 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 6.21% during the projected period.
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A retail media network is an advertising infrastructure made up of a collection of digital channels (such as websites and apps) given by a retailer to third-party companies for a variety of advertising purposes. Purchasing ad space on a retail media network can help businesses of any size boost their digital marketing approach. Retail media can help businesses promote in places where customers already spend their time. As previously stated, retail media includes advertisements placed on a retailer's media network. Brands pay for advertising on various digital channels to help customers discover and learn about them while purchasing. Walmart, Instacart, Amazon.com, Macy's Media Network, and eBay Inc. are some large merchants that have achieved significant revenue growth since adopting the trend. As you can see, the key advantage of retail media for merchants is its increased revenue stream.
Browse key industry insights spread across 205 pages with 110 Market data tables and figures & charts from the report on the "Global Retail Media Networks Market Size, Share, and COVID-19 Impact Analysis, By Type (Search Ads and Displays Ads), By Cloud Deployment (Public Cloud, Private Cloud, and Hybrid Cloud), By Application (Consumer Goods, Catering, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The search ads segment accounted for the largest revenue share of the retail media networks market during the projected timeframe.
Based on the type, the retail media networks market is categorized into search ads and displays ads. Among these, the search ads segment accounted for the largest revenue share of the retail media networks market during the projected timeframe. Search advertising is commercials in which clients look for specific keywords. Search advertising is one of the most prevalent kinds of advertising, in which marketers pay (via an auction-based system) to have their adverts appear above and below organic search engine results.
The hybrid cloud segment is anticipated to grow at the highest CAGR of the retail media networks market during the projected timeframe.
Based on the cloud deployment, the retail media networks market is categorized into public cloud, private cloud, and hybrid cloud. Among these, the hybrid cloud segment is anticipated to grow at the highest CAGR of the retail media networks market during the projected timeframe. Retailers are increasingly embracing the hybrid cloud because it enables them to blend a diverse set of retail applications and workloads across public and private clouds. Retailers involve hybrid clouds to provide essential retail services such as supply chain management, inventory management, customer relationship management, and e-commerce.
The consumer goods segment is projected to hold a significant market share of the retail media networks market during the projected timeframe.
Based on the application, the retail media networks market is categorized into consumer goods, catering, and others. Among these, the consumer goods segment is projected to hold a significant market share of the retail media networks market during the projected timeframe. Retail media networks enhance the shopping experience by offering customers relevant and personalized adverts, allowing them to make better-informed purchases. One such benefit is better price management. Inflation and rising logistical costs have forced retailers to raise prices to maintain margins. When such decisions are made, customers sometimes endure the brunt of the consequences.
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North America is expected to hold the largest share of the retail media networks market over the forecast period.
North America is expected to hold the largest share of the retail media networks market over the forecast period. North America is home to some of the world's largest and most inventive retailers, including Walmart, Amazon, and Kroger. These merchants have the resources and infrastructure to establish sophisticated retail media networks. The region boasts a robust advertising technology ecosystem, which includes well-known organizations like Google and The Trade Desk. This promotes collaboration and speeds up the development of creative solutions for retail media networks. North America has a high level of internet and smartphone penetration, resulting in a broad audience for online advertising and a solid base for programmatic buying in retail media networks. North American consumers are frequently inclined to share data in exchange for personalized experiences.
Asia Pacific is predicted to grow at the fastest pace in the retail media networks market during the projected timeframe. Economic growth and increased disposable incomes are driving significant expansion in Asia Pacific's retail sector. This increased retail activity provides a perfect environment for retail media networks. E-commerce is rapidly developing throughout Asia-Pacific, particularly in China and India. This opens up a substantial opportunity for Internet advertising and increases the attraction of retail media networks. The region has an immense mobile user base. This provides shops with a unique opportunity to connect with clients directly on their mobile devices via personalized advertising.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the retail media networks market are Walmart, Alibaba, Inter IKEA Systems B.V, Instacart Ads, Home Depot Media, Target Brands Inc., Costco Wholesale Corporation, Amazon.com, eBay Inc., Kroger, Macy’s Media Network, Tesco PLC, Best Buy Advertising, Adobe Inc., and others.
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Recent Developments
- In July 2024, Criteo, a commerce media firm, announced a strategic partnership with Microsoft Advertising, which would bring Microsoft Advertising's massive demand to Criteo's global network of 225 retailers. Microsoft Advertising also plans to collaborate with Criteo as its preferred onsite media partner, bringing Criteo's monetization technologies to Microsoft Advertising's retailer clients and resulting in an even more unified retail media environment.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the retail media networks market based on the below-mentioned segments:
Global Retail Media Networks Market, By Type
- Search Ads
- Displays Ads
Global Retail Media Networks Market, By Cloud Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
Global Retail Media Networks Market, By Application
- Consumer Goods
- Catering
- Other
Global Retail Media Networks Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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