Digital Video Advertising Market Value
Surge in adoption of connected TVs across the globe is promoting brands & marketers to adopt digital video advertising which in turn drives market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, April 17, 2024 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Digital Video Advertising Market,” The digital video advertising market was valued at $53.23 billion in 2021, and is estimated to reach $712.6 billion by 2031, growing at a CAGR of 29.6% from 2021 to 2031.
Digital video advertising is the process of displaying ads either inside online video content usually before, during or after a video stream, known as pre-roll, mid-roll and post-roll or as standalone ads. In addition, majority of video ads are bought, sold and displayed programmatically using various targeting methods and may also include interactive elements.
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Furthermore, increase in usage of digital media and growing adoption from e-commerce sector is boosting the growth of the digital video advertising market. In addition, the increase in global penetration of smartphones and internet is positively impacts the growth of the digital video advertising market. However, the risk of security incidents on networks and the high costs of digital video advertising is hampering the digital video advertising market growth. On the contrary, rising innovations in the digital advertising Industry is expected to offer remunerative opportunities for the expansion of the during the digital video advertising market forecast
Depending on industry vertical, the retail industry segment holds the largest digital video advertising market share as it allows brands and marketers to identify and analyze search results using cookies, which givers retailers an in-depth understanding of peoples’ needs and demands. However, the media and entertainment segment are expected to grow at the highest rate during the forecast period, owing to increasing penetration of social media platforms allow media houses to expand their distribution content by offering digital content licensing and production rights.
By type, the mobile segment held the major share in 2021, garnering around three-fourth of the global digital video advertising market revenue. The desktop segment showcase the fastest CAGR of 31.2% during the forecast period. Various advantages associated with the use of desktop digital video advertising, such as increased brand exposure, enhanced targeting and personalized capabilities, data collection, and improved engagement are heightening the demand for desktop digital video advertising.
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By industry vertical, the retail segment contributed to the highest share in 2021, accounting for around one-fifth of the global digital video advertising market revenue. The financial segment would showcase the fastest CAGR of 33.5% throughout the forecast period. This is attributed to the fact digital video advertising helps financial institutes to reach their targeted audiences, promote products, services, and campaigns as well as to increase brand awareness and engage customers.
Region-wise, the digital video advertising market size was dominated by North America in 2021, and is expected to retain its position during the forecast period, owing to, high penetration rate of smartphones. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to increasing the adoption of smart devices, OTT platforms, social media platforms.
Leading Market Players:
• Advertise.com
• Conversant Solutions, LLC.
• Tremor International Ltd
• SpotX Inc
• Viant Technology LLC
• Legacy Pro Co LLC
• MultiVisionDigital
• PubMatic, Inc.
• WebFX
• Levitate Media, LLC
The report analyzes these key players in the global digital video advertising market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, developments, and product portfolios of every market player.
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1. Shift Towards Connected TV (CTV) and Over-the-Top (OTT) Platforms
• CTV and OTT platforms have seen significant growth as more people cut the cord on traditional cable TV.
• Advertisers are following audiences to these platforms, leading to increased investment in CTV and OTT ad inventory.
• This shift offers more targeted advertising opportunities and better measurement capabilities compared to traditional TV.
2. Mobile Video Consumption
• The dominance of smartphones continues to drive video consumption on mobile devices.
• Vertical video formats are gaining popularity, optimized for mobile viewing and often used in platforms like Instagram Stories, TikTok, and Snapchat.
3. Short-Form Video Content
• Platforms like TikTok, Instagram Reels, and YouTube Shorts have popularized short-form video content.
• Advertisers are experimenting with concise, engaging ads tailored to these platforms to capture the attention of younger demographics.
4. Personalization and Targeting
• Advertisers are increasingly using data-driven insights to personalize video ads.
• Dynamic ad insertion allows for tailored content based on user preferences, behaviors, and demographics.
• Addressable TV advertising enables more precise targeting on CTV and OTT platforms.
5. Live Streaming and Interactive Video
• Live streaming platforms such as Twitch, YouTube Live, and Facebook Live present new opportunities for real-time engagement.
• Interactive video ads, where viewers can engage with the content (like choosing different storylines or clicking on products), are gaining traction.
6. Brand Safety and Transparency
• Concerns about ad placement in unsafe or controversial content have led to a focus on brand safety.
• Advertisers are demanding more transparency from platforms regarding where their ads are displayed.
7. Sustainability and Purpose-Driven Marketing
• Consumers, particularly younger generations, are more inclined to support brands with a social or environmental mission.
• Advertisers are incorporating sustainability and purpose-driven messages into their video campaigns.
8. Augmented Reality (AR) and Virtual Reality (VR)
• AR and VR technologies are being integrated into video advertising to create immersive experiences.
• Brands are using these technologies for virtual try-on experiences, interactive product demos, and virtual tours.
9. The Rise of User-Generated Content (UGC)
• UGC continues to be a powerful force in digital marketing, especially on platforms like TikTok and Instagram.
• Brands are collaborating with influencers and everyday users to create authentic, relatable video content.
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