RETAIL MEDIA NETWORK MARKET ANALYSIS

Regional Analysis

Regional analysis of retail media network market

On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.

Among regions, North America is expected to account for the largest market share over the forecast period, owing to the presence of key players in the region such as Walmart, Costco Wholesale Corporation, and The Kroger Co. Most of the companies deliver products at the doorsteps, by making it convenient to the end users. For instance, in March 2018, Walmart expanded its online grocery pick up service to over 100 metro areas in the U.S. In this service customers can order their grocery products online and company will deliver product at their doorsteps. For instance, according to Coherent Market Insights report, in 2018, there were 152 thousand convenience stores and 49 thousand  supermarket stores in the U.S. This, in turn, is expected to drive market growth of the retail media network over the forecast period.

Moreover, Asia Pacific is expected to witness significant growth over the forecast period, owing to the rising disposable income, increasing adoption of smartphones, and various government initiatives for the development of retail industry. For instance, in China, according to the National Bureau of Statistics (NBS) rural and urban per capita disposable income reached US$ 5,658.45 from US$ 2,107.2 in 2018. Furthermore, Government of India has announced reforms to foreign direct investment (FDI) in the retail media industry. For instance, in 2019, the India government approved 51% FDI in multi brand retail and 100% in single brand retail, which is expected to boost growth of the e-commerce market in India. Moreover, increasing population in India is expected to boost the retail media network market growth in India. For instance, according to the India Brand Equity Foundation (IBEF), in 2019, the retail market in India is expected to grow from US$ 13.51 billion in 2016 to US$ 26.67 billion in 2019.