The global smart advertising market size is expected to reach USD 2,175.8 million by 2025, registering a CAGR of 19.4% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. The capability of smart advertising to deliver highly customized multimedia content to target customers is a key factor anticipated to drive market growth over the forecast period. Furthermore, the increasing consumption of digital media in comparison to conventional printed billboards and posters by the consumer has led to an increased demand for smart advertising.
The growth of high-speed broadband and wireless 4G and 5G internet connectivity has enabled Digital Out Of Home (DOOH) media companies to stream high-resolution, customized, and interactive multimedia content to consumers through digital posters and billboards. Technological advancements such as Bluetooth Low Energy (BLE) beacons and geofencing have enabled DOOH advertising companies to offer personalization and tracking functionalities to advertisers. Apart from content personalization, the immersive experience offered by high-resolution digital displays has been successful in increasing customer engagement and stimulating purchase desire. In the current visually-cluttered digital environment, smart advertising has enabled companies to develop a creative, innovative, and improved DOOH advertising strategy using a network of digital displays, digital posters, and interactive kiosks.
The increasing focus of multinational companies to tap the rapidly growing Asia Pacific markets such as India and China is also expected to propel market growth. Furthermore, DOOH media companies are aggressively deploying new networks of digital displays to cater to the growing demand of advertisers. The increased focus of several countries in the Asia Pacific region on the development of high-speed internet infrastructure as part of smart city initiatives is also expected to drive the demand for smart advertising and digital billboards over the forecast period.
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Further key findings from the study suggest:
- In terms of component, the hardware segment is anticipated to emerge as the fastest-growing segment over the forecast period. This can be attributed to the increasing deployment of digital billboards, digital posters, and interactive kiosks at public places such as airports, stations, and highways
- In terms of product, the digital poster segment is anticipated to gain traction over the forecast period owing to their growing deployment in private and commercial locations such as business centers and shopping malls
- In terms of end use, the corporate segment is expected to witness the fastest growth over the forecast period. This is attributed to the increasing number of highly customized and creative advertising campaigns undertaken by corporates to increase consumer engagement and drive sales
- The Asia Pacific regional smart advertising market is expected to register the highest CAGR over the forecast period. This can be attributed to the high expenditure on marketing by multinational companies that are striving to establish a strong presence in the emerging economies of India and China
- Key players operating in the market include OUTFRONT Media Inc., Lamar Advertising Company, CIVIQ Smartscapes, JCDecaux Group, Clear Channel Outdoor Holdings, Inc., Include Ltd., Intersection, Changing Environments Inc., IKE Smart City, Exterion Media (UK) Limited, and Captivate, LLC