Interactive Advertising Market Overview
Interactive Advertising is a technique to promote and encourage customer participation. This technique involves online interaction through social media, videos, and web banners. The main objective of the Interactive Advertising Market is to increase customers’ engagement by interacting with them through ads and feedbacks. The main advantage of Interactive Advertising is that it encourages the customers to engage and interact with ads. It increases the social interaction between the buyer and vendors.
Globally, Interactive Advertising Market growth at USD 123.3 Billion with a CAGR rate of 15.40% by Forecast period 2022-2030
Many growth factors are boosting the demand for interactive advertising positively. One of the chief driving factors of the Interactive Advertising Market is the rise in the increase in the usage of smartphones. Since recent years, there has been a huge increase in the number of smartphones and tablets in various countries worldwide, enabling brands and businesses to reach out to their customers conveniently. As smartphones increased, social media users even started growing worldwide. This factor helped the business pages to interact with customers through advertising. Customer engagement can boost the sales of the products. Another major driver is the increase in the adoption of interactive advertising in e-commerce sectors for various products. The rapid growth of e-commerce sectors is driving the demand of the Interactive Advertising Market.
During the pandemic period, many businesses reach out to their consumers through social media, websites, and other online platforms. Therefore, this factor has increased the adoption of the Interactive Advertising Market in huge numbers; hence, the COVID-19 period has shown a positive impact on the market. But the market even faced bad impacts because of the financial crisis, which affected the economy. Therefore, the pandemic has shown mixed impact on the market.
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Market Segmentation
The Interactive Advertising Market is segmented based on Type, Organization Size, and Vertical segment. In the type segment, the market is categorized into mobile advertising, videos, social media, internet, email marketing, social media marketing, sponsorship, blogging, widgets, offline activation, and others. The Interactive Advertising Market includes small and medium enterprises and large enterprises based on organization size. The vertical segment of the market consists of retail and consumer holds, BFSI, IT and telecommunication, media and entertainment, travel, transportation, supply chain and logistics, healthcare, education and government, energy and power utilities.
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Regional Analysis
The geographical status of the Interactive Advertising Market shows its growth in major regions of the world such as North America, Europe, Asia Pacific, and the remaining regions in the world. North America is accounted to hold the highest share among other regions due to financially strong countries and prominent players. The U.S market has shown rapid growth due to the rise in demand for advertising in this sector. Followed by North America, the Asia Pacific is estimated to show the fastest growth rate, and it is estimated to register the highest CAGR rate during the forecast period. The increase in the usage of smartphones is rapid in major countries like Japan, China, and India. These countries are replacing traditional advertising methods with modern methods, which boosts the market in the future years. The European region is expected to show steady growth during the evaluation period.
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Industry News
In November 2019, major key player Stack Adapt partnered with SpotX to focus on connected TV inventory and audience.
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