PUBLISHER: KBV Research | PRODUCT CODE: 1575606
PUBLISHER: KBV Research | PRODUCT CODE: 1575606
The Asia Pacific Retail Media Platform Market would witness market growth of 8.7% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Retail Media Platform Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $2,252.9 million by 2031. The Japan market is registering a CAGR of 8% during (2024 - 2031). Additionally, The India market would capture a CAGR of 9.6% during (2024 - 2031).
The competitive landscape of the market is also evolving, with more large and small retailers launching their own media networks. E-commerce giants like Amazon and Walmart have been leading the way in the retail media space, but other retailers, including traditional brick-and-mortar stores, are increasingly entering the market. Launching their media platforms allows these retailers to leverage their unique data and consumer relationships to create new brand advertising opportunities. This trend contributes to market fragmentation as more players enter the space and compete for ad dollars. However, it also underscores the growing importance of retail media as a revenue stream for retailers and a valuable channel for brands to reach their target audiences.
Despite the growth and opportunities in the retail media platform market, several challenges must be addressed. The absence of standardized metrics for evaluating the efficacy of retail media campaigns is one of the primary obstacles. Unlike traditional digital advertising channels, which have established key performance indicators (KPIs) such as cost per click (CPC) or return on investment (ROI), retail media lacks consistency in reporting metrics. Different platforms may use different methodologies for measuring campaign performance, making it difficult for brands to evaluate the effectiveness of their ads across different retail media networks. Integration challenges with legacy systems also present a significant barrier for many retailers looking to adopt retail media solutions.
In South Korea, the high level of internet penetration and widespread smartphone use have created a thriving environment for e-commerce, which, in turn, drives the growth of retail media platforms. The South Korean government has been actively supporting innovation in retail through initiatives like the "Korea Digital New Deal," which focuses on expanding digital infrastructure and fostering smart technologies. Retailers like Coupang and Naver utilize retail media platforms to deliver highly targeted advertising by analyzing consumer preferences and shopping behavior.
The rise of cross-border e-commerce, with South Korean consumers frequently purchasing from international retailers, has further increased the need for advanced retail media solutions to effectively target these consumers. Retail media platforms in South Korea leverage advanced technologies and data-driven targeting to connect brands with consumers in an increasingly competitive market. With its booming e-commerce sector, supportive government policies, and tech-driven innovations, the Asia-Pacific retail media platform market is poised for continued growth and dominance in global advertising.
Based on Type, the market is segmented into Retailer-Owned Media Networks and Third-Party Media Networks. Based on Advertising Format, the market is segmented into Display Ads, Sponsored Content, Search Ads, and Other Advertising Format. Based on Industry Vertical, the market is segmented into Consumer Packaged Goods (CPG), Beauty & Personal Care, Electronics & Technology, Apparel & Fashion, Grocery & Food Delivery, and Others Industry Vertical. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
List of Key Companies Profiled
Asia Pacific Retail Media Platform Market Report Segmentation
By Type
By Advertising Format
By Industry Vertical
By Country