The global Inflight Advertising Market size accounted for USD 3.1 Billion in 2022 and is projected to attain a size of around USD 7.8 Billion by 2032 growing with a CAGR of 9.7% during the forthcoming years, as reported by Acumen Research & Consulting
For airlines, in-flight advertising is a valuable source of revenue, especially as they seek to offset the costs of offering in-flight entertainment and other amenities. Advertisers benefit from a captive audience of affluent consumers who are often difficult to reach via traditional advertising channels.
To provide passengers with a more personalized and engaging entertainment experience, in-flight advertising providers are collaborating with streaming services. Panasonic Avionics, for example, collaborated with Amazon Prime Video to provide passengers with streaming access to television shows and movies.
Artificial intelligence and data analytics are increasingly being used by in-flight advertising providers to target ads to specific audiences and measure campaign effectiveness. Global Eagle, for example, collaborated with Black Swan Data to create a predictive analytics tool that allows advertisers better understand passenger behavior.
Inflight Advertising Market Statistics
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Inflight Advertising Market Dynamics
Increasing Number of Air Travelers Fuels the In-Flight Advertising Market Value
Airlines and advertisers are recognizing the potential of in-flight advertising as a way to reach a captive audience of travelers as more people travel by air. The International Air Transport Association (IATA) predicts that the number of air passengers will double by 2037, reaching 8.2 billion per year. Rising incomes, increased urbanization, and increased globalization are driving this growth.
As more people take to the skies, so does the potential audience for in-flight advertising. Furthermore, many airlines are investing in new technologies and services to improve the passenger experience, such as in-flight entertainment systems and Wi-Fi connectivity, which open up new avenues for advertisers to reach passengers in novel ways.
Increased Use of Programmatic Advertising to Generate Lucrative In-Flight Advertising Market Opportunities
The automated buying and selling of digital advertising inventory using real-time bidding (RTB) technology is referred to as programmatic advertising. Advertisers can use programmatic advertising to more effectively target specific audiences and demographics, as well as optimise their ad campaigns in real-time based on performance metrics. This can improve the efficiency and effectiveness of in-flight advertising campaigns while also lowering costs and increasing ROI.
Programmatic advertising is still relatively new in the in-flight advertising market, but it is gaining traction as more airlines and advertisers recognize the benefits of this approach.
Programmatic advertising is expanding in the in-flight advertising market due to a number of factors, including the growing accessibility of data and analytics tools that can be used to more precisely target audiences as well as the rising popularity of mobile and other connected devices.
Inflight Advertising Market Segmentation
The global market has been split into product type, aircraft type, and region.
The product type segment is further segment into display systems, inflight magazines, inflight apps, baggage tags, and others. Aircraft type segment is bifurcated into passenger aircraft and business aircraft.
Major regions included in the report are North America, Asia-Pacific, Europe, Latin America, and the Middle East & Africa.
Inflight Advertising Market Share
According to our inflight advertising market forecast, the inflight magazine sub-segment will account for the majority of the market share in 2022. In terms of growth, the inflight apps will see rapid expansion in the coming years.
As per our inflight advertising industry analysis, the passenger aircraft type dominated the market with the utmost shares in 2022 and will continue to do so in the coming years. However, the business aircraft can be expected to witness a substantial growth rate from 2023 to 2032.
Inflight Advertising Market Regional Outlook
In 2022, North America accounted for the majority of the in-flight advertising market share and is expected to continue its dominance during the forecast timeframe. This is because of factors such as the region's high number of air travelers and the presence of several major airlines and airports that serve as key hubs for international travel.
Europe has the second largest share of the in-flight advertising industry, owing to factors such as the region's large number of low-cost airlines and the high volume of business and leisure travel within Europe.
Furthermore, the Asia-Pacific region is expected to be a key growth market for in-flight advertising from 2023 to 2032, owing to factors such as the region's growing air traveler population, the expansion of low-cost airlines, and the expansion of airport infrastructure.
Inflight Advertising Market Players
Some prominent inflight advertising companies covered in the industry include Accenture, Atin OOH, EAM Advertising LLC, Epsilon, Global Eagle, IMM International, INK, JCDecaux, MaXposure Media Group (I) Pvt. Ltd., Panasonic Avionics Corporation, and Spafax.
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Mr. Frank Wilson
Acumen Research and Consulting