Inflight Advertising Market Trends, From Take off to Touchdown and will touch value of USD 5.68 Billion by 2032- MRFR
Research Reports
Sep 15, 2023
Inflight Advertising Market Overview
The global inflight advertising market will touch USD 5.68 billion at an 11.70% CAGR by 2032, as per the recent Market Research Future report.
Drivers
Need to Improve Customer Experience to Boost Market Growth
The increased need for in-flight advertising is mostly due to the growing desire for personalized entertainment. In order to improve the traveler experience, it has been seen that many airlines have implemented wireless technologies & seat-centric solutions. This is a significant aspect that is fueling the expansion of the inflight advertising industry.
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Key Players
Eminent market players profiled in the global inflight advertising market report include Panasonic Avionics Corporation, Eagle, IMM International, Onboard Partners, Atin OOH, Zagoren Collective, and Blue Mushroom.
Opportunities
Growing Usage of Smartphones to offer Robust Opportunities
In order to boost sales of a certain product, advertisers may now directly target customer groups based on factors like age, income, and education level thanks to the rising use of smartphones & other types of customized computing. These elements are progressively being included into creative in-flight advertising’s combination of sound, sight, & motion, making the experience for passengers more engaging and having a bigger influence on the businesses being marketed. Airlines and advertisers both are seeing the advantages of focusing on passengers while they are in the air as air travel becomes more and more popular.
Restraints and Challenges
Security Concerns to act as Market Restraint
Security concerns, and system incompatibility issues may act as market restraints over the forecast period.
COVID-19 Analysis
The airline sector as a whole was significantly impacted by the COVID-19 epidemic, which in turn had an effect on the market for inflight advertising. Air traffic drastically decreased in the first few months of the pandemic as a result of travel restrictions, lockdowns, & health worries. Many airlines cancelled flights, & those that ran had fewer passengers on board. Naturally, the prospective audience for the inflight advertising decreased as air traffic declined. Advertisers may have revised their plans or scaled down their investments in the channel since fewer people were flying. Additionally, airlines themselves had financial difficulties that led them to prioritize cost-cutting strategies above new income sources.
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Regional Analysis
North America to Head Inflight Advertising Market
Because of the large number of passengers, several significant airlines, and airports that serve as important hubs for international travel, the North American region will dominate the market for inflight advertising. Additionally, this is largely related to the region’s airlines’ growing reliance on the in-flight entertainment systems. Due to its vast population of travelers and advanced aviation sector, North America has the largest worldwide market share for inflight advertising. Airlines including Delta Air Lines, American Airlines, and Southwest Airlines provide a variety of in-flight advertising choices, including in-flight magazines, the video displays, & sponsored content, in the United States. The need for higher interactive and customized advertising experiences is also being driven by the expanding use of in-flight Wi-Fi.
APAC to Have Admirable Growth in Inflight Advertising Market
From 2023 to 2032, the inflight advertising market in Asia-Pacific will expand at the quickest CAGR. Because of population growth, the emergence of low-cost flights, and the expansion of airports, the aircraft sector’s technical prognosis is improving. So for the foreseeable future, higher rates of expansion are projected. In addition, the Indian industry had the quickest growth rate in the APAC region, while China’s inflight advertising market had the greatest market share.
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