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Retail Media Networks Market Analysis 2024-2033 | Growth, Size, Demand, Analysis, Insights
Retail Media Networks Market
The Business Research Company presents an extensive market research report on the Retail Media Networks Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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.
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Key Market Players:
Major companies operating in the retail media networks market report are Walmart Inc., Amazon.com Inc., Google LLC, Home Depot Product Authority LLC, The Kroger Co, Verizon Communications Inc., Alibaba Group Holding Limited, Walgreens Boots Alliance Inc., Target Brands Inc., Lowe's Companies Inc., Carrefour SA, Tesco PLC, Best Buy Co Inc., Inter IKEA Systems B.V., Macy's Inc., Wakefern Food Corp, METRO Inc., Adobe Inc., Wayfair LLC, Ulta Beauty Inc., eBay Inc., Petco Animal Supplies Inc., Maplebear Inc., Criteo Corporation, dunnhumby Ltd, Costco Wholesale Corporation, MediaMath Inc., Flex IT Rent BV, CitrusAd Pty Ltd, Amobee Inc.
Market Drivers:
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.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/retail-media-networks-global-market-report
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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