The insurance advertising market size is expected to see rapid growth in the next few years. It will grow to $19.19 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. The growth in the forecast period can be attributed to mobile advertising, content marketing, customer reviews and testimonials, compliance with new regulations, usage-based insurance models, targeting younger demographics. Major trends in the forecast period include digital marketing dominance, blockchain integration, partnerships and collaborations, artificial intelligence in underwriting, integration of social media, video content and storytelling.
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Segmentation & Regional Insights
The insurance advertising market covered in this report is segmented –
1) By Type: Life Insurance, Non-Health Insurance
2) By Advertisement Channels: Television, Email, Sales Calls, Other Advertisement Channels
3) By Application: Direct Marketing, Network Marketing, Mobile Marketing, Other Applications
Asia-Pacific was the largest region in the insurance advertising market share in 2023. The regions covered in the insurance advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
An increase in the number of internet users is expected to boost the growth of the insurance advertising market going forward. An internet user refers to anyone using the internet, regardless of how they do it. The number of people using the internet is increasing, which makes it easier for insurance businesses to advertise to their target market through digital marketing. Companies increase their reach and anticipate a higher return on investment, with several solutions available that can assist in streamlining marketing initiatives, freeing up the team to concentrate on more crucial responsibilities such as selling insurance. For instance, according to the report published by OBERLO, a Germany-based product sourcing company, and Shopify’s store management app for drop-shipping businesses, in 2022, about 4.95 billion people will be actively using the internet worldwide. Therefore, an increase in the number of internet users is driving the growth of the internet advertising market.
Key Industry Players
Major companies operating in the insurance advertising market are focused on innovative advertising options such as digital ad film to expand their customer base and gain a competitive advantage. A digital ad film, or online video ad, is a promotional video created for the purpose of advertising a product, service, brand, or idea through digital channels. For instance, in August 2022, Max Life Insurance Company Limited, an India-based life insurance company, unveiled a digital advertising campaign promoting its term insurance plan tailored for homemakers. This campaign is presented exclusively in collaboration with Disney+’s Connected Television (CTV). The digital ad film is strategically released in six languages—Tamil, Kannada, Bengali, Marathi, Telugu, and Malayalam. The primary objective of the ad film is to raise awareness about the importance of a term insurance plan specifically designed for homemakers, eliminating the requirement for the husband’s income proof. The goal is to empower homemakers financially over the long term.
The insurance advertising market report table of contents includes:
1. Executive Summary
2. Insurance Advertising Market Characteristics
3. Insurance Advertising Market Trends And Strategies
4. Insurance Advertising Market – Macro Economic Scenario
5. Global Insurance Advertising Market Size and Growth
……………….
31. Global Insurance Advertising Market Competitive Benchmarking
32. Global Insurance Advertising Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Insurance Advertising Market
34. Insurance Advertising Market Future Outlook and Potential Analysis
35. Appendix
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