Product Launches and Strategic Collaborations Partnerships by Market Players such as Playwire, Adverty, and Others to Foster the Growth of the Global In-game Advertising Market
The video game arena is experiencing rapid evolution over the past few years. As the adoption of games skyrocketed due to the rising developments in gaming industry, marketing managers started seeing video games as luxuriant, new ground for placing advertisements.
The in-game advertising technique plays a crucial role in the todays marketing strategies. To begin with, this technique can aid brands in being more visible, on advertising platforms where the competition is yet low. Also, by picking the right in-game advertising layout, marketers can differentiate their brand from the rest of the competition, and reach a highly specific target audience. Besides, by capitalizing in in-game advertising, brands are able to optimize advertisements in real-time. The customization features available in this technique offer several lucrative opportunities for businesses, if their aim is to develop a customized advertising message.
The increasing number of smartphone users and gamers, and the emerging trend of online gaming is driving the growth of the in-game advertising market. In addition, the growing interest of people in social media and mobile gaming is likely to upsurge the global market growth.
In-game Advertising Market Trends and Developments
The rising attraction toward mobile gaming especially among youngsters is driving the in-game advertising market. Also, the rising use of smartphones and growing availability of high-speed internet have encouraged game developers to focus on enhancing app design. Also, in the past few years, companies of all sizes have grabbed opportunities to market their brand through video games, mainly in connection with e-sports games.
Gradually, there have been numerous advances in the in-game advertising sector. Market players are considerably investing in in-depth research for enhancing the efficiency of this amazing technology. As per a report by Research Dive, the global in-game advertising market is expected to gather a revenue of $17,591.6 million by 2030, owing to the rising demand for in-game advertising technology among marketers all across the globe.
Some of the foremost players of the in-game advertising market are Alphabet Inc., Blizzard Entertainment Inc., Anzu Virtual Reality Ltd., Electronic Arts Inc., ironSource Ltd., MediaSpike Inc., Motive Interactive Inc., RapidFire Inc., Playwire LLC, and WPP Plc. These players are focused on developing strategies such as partnerships, product development, mergers and acquisitions, and collaborations to achieve a foremost position in the global market. For instance,
- In April 2021, InMobi, a foremost independent marketing cloud, launched in-game advertising, which is now accessible for brands worldwide to access programmatically on InMobi Exchange.
- In June 2021, Adverty, a gaming adtech firm, launched interactive in-game ad format which will be first available in Magic Finger 3D, an iOS & Android game from Netherlands-based Lucky Kat.
- In June 2021, Playwire, a leading technology company specializing in revenue amplification for app developers and publishers, entered into a strategic collaboration with HP for the new OMEN Oasis feature for OMEN Gaming Hub. Omen Oasis is a place for online gamers to host elite watch parties for high-quality game streaming, plus text chat, audio chat, and video chat.
- In March 2022, Anzu Virtual Reality, an in-game advertising platform, raised $20 million in a round of funding to expand in-game advertising efforts, bringing its total capital raised to $37 million. The funding round saw participation from new investors HTC and NBCUniversal, as well as support from Bitkraft Ventures, HBSE Ventures, Sony Innovation Fund, Alumni Ventures Group, Goal Ventures, The Chicago Cubs, and WPP.
Impact of the COVID-19 Pandemic on the Global In-Game Advertising Market
The sudden outburst of the coronavirus pandemic has positively impacted the global in-game advertising market. During the pandemic, digital advertising techniques started gaining much prominence. Businesses began renovating their marketing strategies and started to run online ads for a better reach across potential audiences. Moreover, a number of businesses and industries have adopted virtual mode of working, and are hence, thinking to expand a major share of their advertising budget on digital platforms. The in-game advertisement market’s growth is projected to be greatly fueled by growing digitalization and rising adoption of video games during the lockdown period. To sum-up, the global in-game advertising industry is sure to observe tremendous growth and garner significant revenue in the coming years.
The North America region in the in-game advertising market is predicted to garner a revenue of $5,731.3 million by 2030. The significant growth of the region is mainly because North America is one of the largest in-game advertising markets owing to the investments in online advertising, which in turn, influences demand for online advertising services from various businesses. Besides, brands are now greatly investing in advertisements in gaming apps and social media platforms due to the presence of a large gaming population in the region.
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