Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWSDecember 2018: Global Eagle Entertainment Inc. announced that it has collaborated with Inadvia to help airline operators maximize revenue through inflight advertising.
October 2018: IMM International announced that it has launched AirPMP, an inflight advertising solution that matches airline offers and advertiser demands in accordance to its ad-serving platform, AirSAS.
The in-flight advertising market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. The growing number of passengers boarding flights and an increase in imports and exports of goods are the factors which are expected to fuel this market's progress. The growth of the market can also be attributed to factors such as increase in low cost carriers, the growth of global middle class, and the growth in airport infrastructure spending. However, the market has seen a drastic dip due to COVID-19 but soon the market trend will see a boon with people acclimatizing to the new normal. According to The Director General of Civil Aviation (DGCA), between 2016 and 2019, the domestic air passenger traffic in the first seven months (January to July) increased by 47%, from over 5.6 crore passengers in 2016 to 8.25 crores in 2019. Individualized computing and smartphones have empowered advertising agencies to display a particular product’s ad to a particular group of people depending on age, gender, and class. The creative inflight advertising gradually adds interaction to the sound, sight, and motion, and enhanced interaction is increasing the brand effectiveness.
Inflight advertising market is segmented by product type into display systems, inflight magazines, baggage tags, in-flight apps, and others. Various entertainment options are provided by the media companies, such as news, sports, short videos, and movies on a big screen or individual screen. Therefore, advertisers choose to display their advertisements based on travel class, screen, and advertisement type. In recent times, the in-flight advertisements are personalized based on the airline destinations and the regional language to promote restaurants, hotels, and local businesses. Several airlines provide Wi-Fi and free internet for passengers, which are anticipated to emerge as a good opportunity for in-flight advertising companies shortly. Based on aircraft type, market is segmented into passenger flights and business flights. Inflight advertising on passenger flight shows higher growth as it can accumulate larger amount people at once whereas on the other hand business flights are used to transport small groups of people. CLICK TO DOWNLOAD SAMPLE REPORT
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which it was seen that North America market dominated the market for inflight advertising in the year 2019. Its primary reason be the massive involvement of inflight entertainment systems in the airlines. Besides, it is expected that during the forecasted period the Asia Pacific region would grow at the highest rate. The main reason for the market growth in this region is the rise in passenger traffic. It is expected that by 2035, about more than 16,000 aircraft would be delivered in the area, which is expected to impact the in-flight advertising market in the Asia-Pacific region positively. Correspondingly, the Middle East & Africa region has been witnessing an impressive increase in its economy of late. The major factors driving the economy of the region is increased air travel and rising tourism. Dubai welcomed a record 16.73 million tourists in 2019, an improvement over the previous two years. As the area is located at the crossroads of Asia-Africa and Europe, their local airlines, led by Emirates, Qatar Airways, and Etihad Airlines, are well-positioned to compete for the air traffic, globally. Due to the rapid increase in the number of aircraft in the region, it is expected that there would be a substantial and simultaneous impact on the market.
The global inflight advertising market is further classified on the basis of region as follows:
Our in-depth analysis of the global inflight advertising market includes the following segments:
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