LONDON--(BUSINESS WIRE)--The in-game advertising market is expected to grow by USD 10.97 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio.
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The increasing penetration of smartphones and tablets has been encouraging gaming companies to increase their focus on developing mobile games. In addition, many game developers are introducing freemium models wherein users are allowed to play for free up to a certain level and later compelled to pay for access to advanced levels. These games also help developers generate higher revenues through in-game advertising. These advertisements are shown in the form of interactive advertisements, static banners, and interstitial advertisements. Also, in-game advertisements offer rewards such as virtual money that can be used in the game. With the rising popularity of mobile gaming, the global in-game advertising market will witness significant growth during the forecast period.
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As per Technavio, the increase in the number of gamers and growing partnerships between advertisers and video game companies will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
In-Game Advertising Market: Increase in Number of Gamers and Growing Partnership Between Advertisers and Video Game Companies
The rapidly growing gaming industry is encouraging advertisers to increase their investments in in-gaming advertising to reach a larger audience. Besides, many game publishing companies and advertisers are entering into strategic partnerships to create high impact advertisements that make long-lasting and favorable impressions on customers. For instance, in May 2019, Nike Inc. partnered with Fortnite to promote Jordan sneakers. The game rewards players with virtual sneakers for their character after the completion of free challenges in Downtown Drop LTM. Such developments in the gaming industry are expected to boost the growth of the global in-game advertisement market.
“Incorporation of NLP with in-game advertising and the emergence of programmatic in-game advertisement will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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In-Game Advertising Market: Segmentation Analysis
This market research report segments the in-game advertising market by platform (Mobile, Computing, and Console) and geographic landscape (APAC, Europe, MEA, North America, and South America).
The North America region led the in-game advertising market in 2019, followed by APAC, Europe, MEA, and South America respectively. However, during the forecast period, APAC is expected to register the highest incremental growth due to the growing popularity of PC and gaming console-based games in the region.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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