Global In-Game Advertising Market Comprehensive Study: Forecasted Market Size And Growth Rate
The Business Research Company has updated its global market research reports, including the most current information for 2024 and projections extending to 2028.
Business Research Company Business Research Company offers in-depth market analysis through the In-Game Marketing Global Market Report for 2024, giving businesses an edge over competitors by studying the market structure, including estimates for various categories and subsectors.
Market Size And Growth Forecast:
The market for in-game advertisements has grown dramatically over the last few years. It is expected to increase by $8.84 billion by 2023 and $9.89 billion by 2024, with a compound annual (CAGR) of 11.9 per cent. The rise in the previous period is due to the advancements in gaming platforms, the acceptance of in-game advertisements and targeted advertising, the measurement of analytics and measurement tools and dynamic advertising in-game (again).
The size of the in-game advertising market is predicted to experience significant growth over the coming years. The market will reach $15.92 billion by 2028 at an annual compound growth percentage (CAGR) of 12.6 percent. The rise during the forecast timeframe can be attributable to the use of data analytics and measurement tools, the global game industry development, the latest innovations in advertising formats, the growing popularity of gaming on mobile, and increased investments in the gaming industry. Some of the major trends expected in the next few years include monetization for game creators as well as interactive and engaging ad formats, live events, sponsorships, and brand partnerships, and a rise in the gaming audience.
Market Segmentation:
The market for in-game advertisements covered in this report has been segmented by
1) By Type: Static Ads, Dynamic Ads, Advergaming
2) By Platform: Mobile, Computing, Console
3) By Applications: Online, Standalone
Primary Driver – In-Game Advertising Market Surges With The Soaring Number Of Smartphone Users
The growing amount of smartphone users is predicted to increase the development of the in-game advertising market over the next few years. A smartphone is a cellular phone with an integrated computer and other features like operating systems, web browsers, and capabilities that weren’t previously present in phones. Smartphones are often used for in-game marketing by marketers and advertisers to execute different mobile-centric advertising campaigns to reach the most significant market and earn high profits.
For instance, in November 2022, according to the International Telecommunication Union, a Swiss-based United Nations body in charge of a variety of issues, such as communication and technology, 73% of the population older than 10 were able to access phones and that’s 7 percent more than the population overall that had access to an Internet connection. This means that a surge in smartphone owners is driving the expansion of the market for in-game advertisements.
Competitive Landscape:
The major companies that operate in the game-based advertising market study are Anzu Virtual Reality Ltd, Electronic Arts Inc., MediaSpike Inc., ironSource Ltd, Motive Interactive Inc, Playwire LLC, RapidFire Inc., WPP Plc., Activision Blizzard Media Ltd, Blizzard Entertainment Inc, AdInMo Ltd, Flurry Inc., Bidstack Ltd, HotPlay Co. Ltd, Double Fusion Limited, Giftgaming Ltd, Adscape International LLC, Admix Foods Private Limited, Adverty AB, Azerion Group N.V., GameInfluencer, Gameloft S. A., Google Inc., mKhoj Solutions Private Limited, Kargo Global Ltd, Kool Things, Tracxn Technologies Private Limited, LoopMe Ltd., MobileFuse LLC, Nativex LLC..
Innovation in product design has become the most crucial trend, gaining traction in the game advertising market. Companies that are significant players in the market for in-game advertising are creating new products to improve their standing. For example, in April 2021, InMobi Pte. Ltd. InMobi, an Indian technology company offering in-game advertisements and, announced the introduction of advertising in games through InMobi Exchange. InMobi exchange. With the introduction of a unique in-game inventory available on InMobi Exchange, companies will be able to target high-value mobile players with ads that integrate into the gaming environment, much like digital promotional boards found in the in-game stadium for sports as well as an esports arena or the hugely popular hypercasual and casual gaming zone. The launch of an exclusive inventory in games on InMobi Exchange will allow companies to target mobile users with high-end preferences by integrating their advertisements into the game’s environment, akin to electronic advertising panels found in an in-game sports arena as well as an esports stadium or the extremely well-liked casual and hypercasual gaming industry.
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