The Latin America, Middle East and Africa Retail Media Platform Market would witness market growth of 9.9% CAGR during the forecast period (2024-2031).
The Brazil market dominated the LAMEA Retail Media Platform Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $448.4 million by 2031. The Argentina market is registering a CAGR of 10.6% during (2024 - 2031). Additionally, The UAE market would obtain a CAGR of 9% during (2024 - 2031).
The market is a promising area for the future of advertising despite the obstacles it faces. The unique value proposition of retail media—offering highly contextual and personalized advertising at the point of purchase—makes it an attractive channel for brands looking to connect with consumers in meaningful ways. As retailers continue to enhance their online presence and accumulate more data on consumer behavior, the potential for targeted advertising will simply grow.
Furthermore, the capabilities of retail media platforms are being further enhanced by technological advancements, including artificial intelligence and machine learning, which facilitate more sophisticated targeting, personalization, and optimization of advertising campaigns. These technological advancements will likely drive further growth in the retail media platform market as brands seek to leverage data to deliver relevant and engaging advertising experiences.
In South Africa, government initiatives such as the "National e-Commerce Strategy" and the "Fourth Industrial Revolution (4IR) Commission" aim to enhance digital infrastructure, promote innovation, and support e-commerce growth. The "Broadband Policy for South Africa" also seeks to improve internet access and connectivity nationwide, creating a favorable environment for digital commerce. As e-commerce continues to grow, the need for effective retail media platforms to manage targeted advertising has become essential for brands looking to connect with the expanding online consumer base. The rise in government support for e-commerce across the LAMEA region has had a positive ripple effect on the retail media platform market, as brands increasingly turn to these platforms to effectively engage consumers and drive sales in a rapidly evolving digital landscape.
Free Valuable Insights: The Worldwide Retail Media Platform Market is Projected to reach USD 26.3 Billion by 2031, at a CAGR of 8.2%
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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By Type
By Advertising Format
By Industry Vertical
By Country
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