In-Game Advertising Market Size to Grow Almost $11 Billion amid COVID-19 Pandemic | Forecasting Strategy for the New Normal | Technavio
LONDON--(BUSINESS WIRE)--Nov 20, 2020--
The in-game advertising market is expected to grow by USD 10.97 billion, progressing at a CAGR of almost 20% during 2020-2024. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the in-game advertising market in optimistic, probable, and pessimistic forecast scenarios. The imposition of lockdowns worldwide has increased the average time spent by users in mobile, computing, and console games. This has significantly increased the growth opportunities for vendors operating in the market. Besides, the growing adoption of smartphones and the increasing penetration of high-speed internet is expected to foster market growth during the forecast period.
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Technavio has announced its latest market research report titled Global In-Game Advertising Market 2020-2024 (Graphic: Business Wire)
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The in-game advertising market will witness a positive impact during the forecast period owing to the widespread growth of the COVID-19 pandemic. As per Technavio’s pandemic-focused market research, market growth is likely to increase in 2020 as compared to 2019.
The in-game advertising market is driven by the increasing popularity of mobile gaming. The growing adoption of smartphones and the increasing availability of high-speed internet has encouraged game developing companies to increase their focus on improving app design. Also, vendors are increasingly adopting freemium models wherein the initial level of a game is offered free of cost, and users need to pay for accessing the advanced levels. These factors have significantly increased the demand for mobile games among end-users. In addition, other factors such as an increase in the number of gamers and the growing partnership between advertisers and video game companies are expected to trigger the in-game advertising market toward witnessing a CAGR of almost 20% during the forecast period.
With the continuing spread of the novel coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renew phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
This post-pandemic business planning research will aid clients to:
- Adjust their strategic planning to move ahead once business stability kicks in.
- Build Resilience by making effective resource and investment choices for individual business units, products and service lines.
- Conceptualize scenario-based planning to mitigate future crisis situations.
Download the Post-Pandemic Business Planning Structure.Click here
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID-19 market estimates
- Quarterly impact analysis and updates on market estimates
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Major Three In-Game Advertising Market Participants:
Alphabet Inc. operates its business through segments such as Google and Other Bets. The company offers Google AdMob which provides in-game advertising services.
Anzu Ltd. operates its business through the Advertising services segment. The company offers in-game advertisement services for brands in premium games across various platforms such as mobiles and PCs.
Electronic Arts Inc.
Electronic Arts Inc. operates its business through Packaged goods and other segments. The company offers in-game advertising services for the games developed by the company.
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In-Game Advertising Market 2020-2024: Segmentation
In-game advertising market is segmented as below:
- Geographic Landscape
- North America
- South America
Based on the platform, the market saw maximum growth in the mobile segment in 2019. The growth of the segment can be attributed to the availability of low-cost, large-screen mobile devices with high display resolution which has enhanced the gaming experience of users.
Similarly, APAC presented maximum growth opportunities for vendors in 2019 with a market share of 41%. Factors such as the increasing penetration internet and the rising adoption of low-cost smartphones are driving the market growth in the region.
Get more insights about the global trends impacting the future of the in-game advertising market
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- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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PUB: 11/20/2020 11:30 PM/DISC: 11/20/2020 11:30 PM