Smart Advertising Market Statistics
Smart advertising is different than from the traditional advertising which catches attention instantly. Organization are shifting their focus on smart advertising because of the numerous reasons such as eye-caching and user friendly advertising options, more entertainment, cost friendly and others. The main purpose behind the advertisement is to create awareness about the company’s product, educating the potential buyer, creation of competitive edge, to make a change in buyer’s consumption habits.
In this competitive era, it is quite difficult to promote the brand and create an image in the consumers mind however; this can be achieved with the right promotion and advertisement. Advancement in technologies can also be seen in the advertising sector over the period of time. A smart advertising can be defined as advertising with intelligence which aims to create incredible experiences for the customers so that they can capture interest through creativity and unpredictably.
Smart advertising includes a lot of unusual ways and tools from which the user can choose the best suitable ways according to their needs. These includes smart games, unique trailers, huge campaigns, sponsored quests and others.
Market scope and structure analysis:
Market size available for the years
Base year considered
Mode of Interaction
Impact of COVID-19 on Smart Advertising Market:
- As the threat of the Covid-19 pandemic increases, it is also significantly affecting businesses across many industries and advertising is also one of them which is facing tough challenges as lawmakers and companies put in place precautionary measures to keep employees safe. It is expected that the advertising media sees a 30% decrease in the investments. In addition to this, loss in revenue will lead to temporary unemployment in various advertising agency. Furthermore, the absence of economic activity has certainly affected the content of the advertising.
- Advertising companies are also moving towards other distribution platforms, notably Over-the-top (OTT) providers. As a result, many of the largest media companies have increased investment in their OTT services in recent years; this trend appears set to continue, with coronavirus accelerating consumers thus increasing the market for the smart advertising market.
- Furthermore, some good opportunities are also expected to increase ad spends and certain clients are expecting an increase in sales with reduced cost such as growing demand for in-home media. TV viewership has climbed, but digital consumption has increased even more: use of social platforms and streaming services have risen almost everywhere; gaming has also grown dramatically which will expected to increase the investment in smart advertising.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Growing adoption of smart advertising due to its numerous benefits majorly drives the growth of the market. Some of its benefits include creating awareness about the product, inspire interactivity as this gives the user to explore the interest in different products, services, drive a far better performance than traditional advertising, and others. In addition to this, factors such as continuously growing focus on digital media, and rise in smart phone penetrations, further fuels the market growth. However, stringent government regulations regarding data privacy are projected to have a significant impact on the collection, storage, as well as usage of customer’s data for delivering personalized advertisement content restraints the growth of the market. Also, challenges related to shifting consumer preference from traditional advertising is limiting the growth of the market. Furthermore, growing preference for digital marketing, adoption of software as a service based model are some of the factors with which multiple opportunities are expected for the market.
Technological advancement with smart advertising:
Ongoing technology advancement such as geo-fencing and Bluetooth low energy beacons have enabled several digital out of home enterprises to offer multiple personalization and tracking functionalities to advertisers. In addition to this, technology advancement also helps to provide improved high resolution digital displays thus helps to increase the customer engagement and stimulate purchase desire, thus driving the growth of the smart advertising market.
Growing integration of automation with smart advertising:
The automation offers several aspects of advertising process such as better targeting with lower overall advertising cost. The programmatic system in the automation is applied on algorithms in order to make real time bids on ad inventory so that it can display the ad to the right customer on right websites hence enhancing the viewers and thus smart advertising integrated with automation is expected to bring multiple opportunities for this market.
Challenges related to shifting consumer preferences
Customers are still likely to prefer the traditional advertising through newspaper, TV, radio & others and changing the customer perspective is currently the biggest challenge in this market which will impact negatively on the market growth.
Key Segments covered:
Mode of Interaction
Key benefits of the report:
- This study presents the analytical depiction of the global smart advertising archiving industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the smart advertising market share.
- The current market is quantitatively analyzed from 2019 to 2027 to highlight the global smart advertising market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed smart advertising market analysis based on competitive intensity and how the competition will take shape in coming years.
Smart Advertising Market Report Highlights
By Product Type
Key Market Players
Lamar Advertising Company, JCDecaux Group, Clear Channel Outdoor Holdings, Inc., Exterion Media Limited, IKE Smart City, Changing Environments Inc., CIVIQ Smartscapes LLC, Captivate LLC, Outfront Media Inc., Include Ltd.