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.
Introduction to In-Flight Advertising
In-flight advertising is meant for targeting those customers who travel mostly from flights. The in-flight advertising on the whole comprises of advertisements on display system, in-flight magazines, in-flight apps, baggage tags, serving trays tables and sales pitches by flight attendants. The advertisements in flights are to promote shopping, holiday destinations, state tourism, businesses, hotels, and restaurants. The commercial aviation industry is playing tremendous role in this market and is expected to grow at a robust rate during the forecast period. Many passengers who travel through flights belong to middle class or high-class families and are thus potential customers for in-flight advertising market. Some of the advertisers use stickers that are pasted on the meal card trays, overhead luggage lockers, napkins, and seat backs as a mean to grab the passengers’ attention. These advertisements play an important role in aviation on account for generating revenue for the airline.
Market size and Forecast
Digital media has transformed the in-flight advertisement market completely. Advertisers can now easily communicate ads to people/travelers with unique and attractive content directly to their smart phones or seatback screens, which is relatively much impactful as compared to the conventional techniques for in-flight advertising. The advertising through boarding passes online or offline is another way to engage the consumers.
The In-flight advertising market is anticipated to grow with a CAGR of around 12% over the forecast period 2020-2028. The in-flight advertising market is segmented by product type and by application. Based on product, the market is segmented into in-flight magazines, display systems, baggage tags, in-flight apps, and others, out of which, the display system is expected to witness the highest CAGR growth over the forecast period owing to increasing demand for in flight entertainment display. CLICK TO DOWNLOAD SAMPLE REPORT
On the other hand, the application segment is further segmented into business and passenger aircrafts, out of which, the business aircraft is anticipated to grow at a highest CAGR during the forecast period owing to high disposable income.
Growth Drivers
Rising passengers to drive the Market Growth
With the increase in number of passengers in economy class owing to the airline companies offering tickets at economical prices, the number of in-flight advertisements is also estimated to increase over the forecast period. The demand for in-flight advertising is increasing, as advertisers find it easy to aim at their potential customers.
Customization of In-flight Entertainment
Digital media has completely transformed the In-flight advertising market and increasing demand for customization of aircraft entertainment is also driving the in-flight advertising market.
In today's digital era where connectivity is the most important component, many binge-watching apps are catering to every individual’s personal taste. Many in-flight advertising firms are focusing on bringing the same concept to aircraft cabins with content that is modified on every passenger's need. In addition, some airlines provide free in-flight Wi-Fi service to their passengers so that they can access the online content embedded with advertisements, such entertainment is anticipated as a good growing opportunity for in-flight advertising market during the forecast period.
Restraints
High Publishing Cost to Inhibit the Market Growth
The major restraining factor of in-flight advertising market is the cost associated with publishing the advertisements. Publishing the advertisements on different medium is the prime challenge for the companies and that too with high cost associated with it, which in turn inhibits the in-flight advertising market growth.
Market Segmentation
Our in-depth analysis of the in-flight advertising market includes the following segments:
By Product Type
By Application
By Region
Based on regions, the in-flight advertising market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Asia pacific region is anticipated to hold the largest share in this market as many airline services are entering into service, which in turn provide a great opportunity to in-flight advertisement market over the forecast period. Middle East and Africa region is estimated to witness a tremendous growth in this market on account for increasing tourism and air travel. In Europe region it is expected to grow at a significant CAGR over the forecast period.
The in-flight advertising market is further classified on the basis of region as follows:
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