LONDON, Nov. 09, 2023 (GLOBE NEWSWIRE) — As per The Business Research Company’s Aerial Advertising Global Market Report 2023, the global aerial advertising market is taking to the skies with remarkable growth projections. According to the Aerial Advertising Global Market Report 2023, the market is expected to surge from $6.05 billion in 2022 to $6.5 billion in 2023, boasting a compound annual growth rate (CAGR) of 7.3%. This upward trajectory is set to continue, with the market anticipated to reach $8.24 billion by 2027, growing at a CAGR of 6.1%.
Digital Media: Propelling the Aerial Advertising Market
One of the key drivers fueling the growth of the aerial advertising market is the rapid expansion of digital media. Digital media encompasses a wide range of platforms, electronic devices, and websites, offering air advertising companies the means to engage with their audience effectively. It enables them to enhance brand awareness, influence consumer behavior, gather valuable feedback, improve existing products and services, and boost sales. Recent data from Hootsuite Inc. reveals that the number of global social media users increased by 190 million over 2021, reaching a staggering 4.74 billion by the start of October 2022. With social media users now representing 59.3% of the world’s population, the growth of digital media is undeniably driving the expansion of the aerial advertising market.
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Technological Advancements: A Key Trend in Aerial Advertising
Technological innovation is another significant trend shaping the aerial advertising market. Leading companies in the aerial advertising market are actively investing in the development of new technologies to maintain their competitive edge. For instance, in August 2022, Drone Aerial Services LLC, a US-based aerial advertising company, unveiled its groundbreaking aerial advertising technology known as SOOCS (Suspended Orientation Object Control System). A standout feature of this technology is its ability to allow drones to carry massive billboard advertisements, ensuring greater control and stability in the air.
North America Leading the Way
As of 2022, North America held the title of the largest region in the aerial advertising market. The aerial advertising market report reveals that North America’s dominance is expected to continue as the industry expands further.
Segmentation of the Global Aerial Advertising Market
The Aerial Advertising Global Market Report 2023 offers insights into the market’s segmentation:
- Product Type:
- Billboards
- Letter Banners
- Skywriting
- Other Product Types
- Application:
- Economy Class
- Business Class
- End User:
- Private Use
- Commercial Use
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The Aerial Advertising Global Market Report 2023 represents a valuable resource for stakeholders in the aerial advertising industry. With a thriving market, driven by the growth of digital media and technological advancements, it’s clear that businesses, advertisers, investors, and other stakeholders stand to benefit from this comprehensive report.
For businesses looking to expand their presence and maximize their marketing strategies, this aerial advertising market report offers crucial insights. Advertisers seeking innovative and effective ways to reach their target audience can find inspiration in the trends and technologies shaping the industry. Investors and decision-makers can use this report to identify promising opportunities and make well-informed choices to drive growth.
Aerial Advertising Global Market Report 2023 by The Business Research Company provides insights on the aerial advertising market size, aerial advertising market segments, aerial advertising market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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