The Retail Media Networks Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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https://www.thebusinessresearchcompany.com/report/retail-media-networks-global-market-report
According to The Business Research Company’s Retail Media Networks Global Market Report 2024, The retail media networks market size has grown strongly in recent years. It will grow from $21.07 billion in 2023 to $22.71 billion in 2024 at a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period can be attributed to shift in advertising budgets, e-commerce growth, data-driven advertising, brand collaboration opportunities, in-store and online integration.
The retail media networks market size is expected to see strong growth in the next few years. It will grow to $31.7 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to rise of direct-to-consumer (DTC) brands, enhanced analytics and measurement, focus on customer experience, shoppable media and social commerce, dynamic pricing and promotions. Major trends in the forecast period include rise of omnichannel strategies, in-housing advertising operations, dynamic pricing integration, mobile commerce acceleration, compliance with privacy regulations.
The rapid growth of e-commerce is expected to propel the growth of the retail media networks market going forward. E-commerce refers to businesses and people that buy and sell products and services through the internet. E-commerce operates in various market areas and can be done on computers, tablets, smartphones, and other smart devices. Retail media networks enable companies to access previously inaccessible digital spaces within an e-commerce website. Sponsored ads are introduced by e-commerce websites to allow businesses to market their products on the website. For instance, in April 2022, according to a report published by United Nations Conference on Trade and Development (UNCTAD), a Switzerland-based intergovernmental organization within the United Nations Secretariat, global e-commerce businesses earned $2.9 trillion in sales in 2020, with a further one-third growth in 2021, bringing sales to $3.9 trillion. Therefore, the rapid growth of e-commerce is expected to drive the retail media network market.
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The retail media market covered in this report is segmented –
1) By Type: Search Ads, Display Ads
2) By Cloud Deployment: Public Cloud, Private Cloud, Hybrid Cloud
3) By Application: Consumer Goods, Catering, Other Applications
Major companies operating in the retail media network market are adopting a strategic partnership approach to accelerate eCommerce and retail media growth. Strategic partnerships are collaborative arrangements between two or more organizations that combine resources and expertise to achieve mutually beneficial goals. For instance, in May 2022, Mirakl SAS, a France-based cloud-based e-commerce software company, partnered with Havas SA, a France-based communication company. With this partnership, these companies aim to create a powerful independent retail media network for brands and retailers, leveraging Mirakl’s AI-powered advertising technology optimized for marketplaces and eCommerce.
The retail media networks market report table of contents includes:
1. Executive Summary
2. Retail Media Networks Market Characteristics
3. Retail Media Networks Market Trends And Strategies
4. Retail Media Networks Market – Macro Economic Scenario
5. Global Retail Media Networks Market Size and Growth
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26. South America Retail Media Networks Market
27. Brazil Retail Media Networks Market
28. Middle East Retail Media Networks Market
29. Africa Retail Media Networks Market
30. Retail Media Networks Market Competitive Landscape And Company Profiles
Top Major Players:
- Walmart Inc
- Amazon.com Inc.
- Google LLC
- Home Depot Product Authority LLC
- The Kroger Co
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