Inflight Advertising Market Trends and Outlook, Navigating the Latest Updates by 2032
Inflight Advertising Market
Inflight Advertising Market size is estimated to grow at a USD 5.68 Billion by 2032 at 11.7% CAGR by 2023-2032.
The advancement of advertising techniques and the introduction of digital media are major driving factors in the global Inflight Advertising Market. With the increased adoption of mobile phones and personal computing, advertisers can now deliver advertisements directly to passengers' devices. This is more effective than any traditional method of in-flight advertising, and it is expected to drive global market growth.
Furthermore, increasing connectivity is one of the major factors that will likely create numerous opportunities over the forecast period. Inflight advertising has a high frequency of exposure and a wide range of formats and platforms, propelling the global market forward. The key growth drivers, such as increased expenditures in airport infrastructure development, the increase in low-cost carriers, and an increase in per capita income, have increased customer preference for air travel. The rising need for customized entertainment has highly contributed to the increased demand for the Inflight advertising market.
However, the market was hit significantly as a result of COVID-19, but the market trend will soon improve as people adjust to the new normal. The rising number of passengers boarding flights, as well as an increase in goods imports and exports, are expected to propel this market forward.
Competitive Landscape:
Several influential companies in the in-flight advertising market are actively participating due to the possibilities of earning more revenues. In the process, they are employing strategies that include merger, acquisition, product launch, innovation, and other methods. For individual progress, these strategies are essential but thy also take the market, as a whole, ahead. MRFR has listed some in their report to understand the trend that is going on and can impact the coming years. These is Inflight Advertising Market Players Global Eagle, Zagoren Collective, Panasonic Avionics Corporation, EAM Advertising LLC, IMM International, INK, MaXposure Media Group (I) Pvt. Ltd., Atin OOH, Global Onboard Partners, and Blue Mushroom.
In May 2019, Korean Air and Delta Air Lines started collaborating on advertising campaigns to promote their flight benefits in both South Korea and the U.S. This is an endeavor to celebrate their one-year collaboration. The endeavor would ensure more focus on in-flight advertising and propel the market growth.
Market segmentation:
The global Inflight Advertising Market is segmented based on aircraft type and type.
According to the aircraft type:
• Passenger Aircraft
• Business Aircraft
According to the type:
• Inflight Magazines
• In-Flight Apps
• Baggage Tags
• Display Systems
• Others
Regional analysis:
The Inflight advertising market is divided into the Middle East, North America, Asia-Pacific, Europe, Latin America, and Africa by region.
North America dominated the regional market for in-flight advertising in 2019. The key cause for this is airlines' widespread use of in-flight entertainment systems. Furthermore, it is anticipated that the Asia-Pacific area will expand fastest throughout the estimated time. The increase in passenger traffic is the key driver of market expansion in this area. Similarly, the Middle East and Africa region's economy has recently expanded at a rapid pace. Increased air travel and expanding tourism are two important elements propelling the region's economy. The fast expansion in the number of aeroplanes in the region is likely to have a significant and simultaneous influence on the market.
Recent developments:
• Quantcast, a global player in advertising technology, announced the debut of new solutions for digital marketers seeking successful brand advertising in June 2022. The newly announced technology will effortlessly aid marketers in efficiently planning and measuring video. It will show brand advertisements on the web and CTV. Marketers will benefit from Quantcast's widely adopted cookieless technology to reach the full audience.
• Inmarsat, a worldwide player in mobile satellite communications, has announced the launch of a new OneFi customer experience platform (CXP), an innovative airline solution, in September 2021. This is a one-of-a-kind system for monetizing in-flight connections. It will integrate a slew of onboarding services into a single portal experience. This allows passengers to rapidly access their gadgets.
Inflight Advertising Market Research Report: Information by Product (Inflight Magazines, Display Systems, Baggage Tags, In-Flight Apps and others), Aircraft Type (Business Aircraft and Passenger Aircraft) and Region (North America, Europe, Asia-Pacific, Middle East & Africa and Latin America) - Forecast till 2030
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