New York, United States, Dec. 12, 2023 (GLOBE NEWSWIRE) -- The Global Digital Video Advertising Market Size is to Grow from USD 53.6 Billion in 2022 to USD 553.6 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 26.3% during a projected period. To increase corporate efficiency and draw in and retain more clients, the online retail sector has been forced by escalating technology improvements to invest a substantial sum of money in digital video advertising. Similar to specialized commercials seen while visiting e-commerce sites, the use of digital video advertising helps to positively impact business marketing and sales. By quickly attracting clients' attention, high-quality digital video content presentation boosts investments in e-commerce products displayed on many platforms.
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A strategy for promoting a certain commodity or service in a video format is known as digital video advertising often referred to as online video advertising. The movie is made available on numerous news websites, mobile apps, video games, and social networking sites like Facebook and Instagram. Online display ads that show up before, during, or after a video broadcast on a website or within an application are also considered a part of digital video advertising. One of the key factors influencing the market's strong growth has been the e-commerce industry's expanding use of digital video advertising. To increase corporate efficiency and draw in and retain more clients, the online retail sector has been forced by escalating technology improvements to invest a substantial sum of money in digital video advertising. Moreover, significant emerging e-commerce companies like Amazon, Flipchart, and others have been productively generating sizable sales through online advertising on social networking sites, gaming websites, television, and other platforms, which has aided them in more effectively marketing their goods. The development of the digital video advertising industry has been significantly hampered by high expenses. Additionally, significant financial investments are necessary for digital advertising on some of the most well-known and powerful platforms, such as YouTube, Facebook, and others, to reach a larger audience.
COVID-19 Impact
Since, the High market penetration of the most recent technology during the pandemic, the COVID-19 epidemic had a favorable effect on the expansion of the digital video advertising business, providing a wealth of opportunities for advertisers to advertise using this technology. Although the pandemic originally posed difficulties for the web advertising sector, it also opened up new possibilities and sped up the adoption of digital methods. The pandemic's consequences are still being felt around the world, and the online advertising sector is likely to be vital to the rehabilitation and future expansion of firms in a variety of industries.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Digital Video Advertising Market Size, Share, and COVID-19 Impact Analysis, By Ad Format (Linear video ad, Non-linear video ads), By Device Platform (Mobile, Desktop, Gaming Consoles, Digital Bill Boards, Others), By End Users (Retail, E-Commerce, IT & Telecom, Media and Entertainment, Automotive, Financial Services, Consumer Goods & Electronics, Others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The linear video ad segment dominates the market with the largest revenue share over the forecast period.
Based on ad format, the global digital video advertising market is segmented into linear video ads and non-linear video ads. Among these, the linear video ad segment is dominating the market with the largest revenue share of 38.6% over the forecast period. Due to the widespread use of smartphones, the linear advertising business is becoming more and more well-known. The direct advertising industry is expected to develop as a result of rising social media platform usage by advertising organizations to reach targeted clients and rising smartphone social media platform usage over desktop usage.
The mobile segment is witnessing significant CAGR growth over the forecast period.
Based on the device platform, the global digital video advertising market is segmented into mobile, desktop, gaming consoles, digital billboards, and others. Among these, the mobile segment is witnessing significant CAGR growth over the forecast period. Due to the high affordability of smartphones and the expanding amount of content sharing on social media platforms, the market for digital video advertising is experiencing significant growth.
The e-commerce segment is expected to hold the largest share of the global digital video advertising market during the forecast period.
Based on end users, the global digital video advertising market is classified into retail, e-commerce, IT and telecom, media and entertainment, automotive, financial services, consumer goods & electronics, and others. Among these, the e-commerce segment is expected to hold the largest share of the digital video advertising market during the forecast period. Rising technical developments have led the online retail industry to heavily invest in digital video advertising to draw in more customers, increase sales, and boost productivity.
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North America dominates the market with the largest market share over the forecast period.
North America is dominating the market with more than 38.7% market share over the forecast period. Due to growing pressure from companies and agencies to capitalize on the rising number of digital viewers and snag a larger share of screen time, marketers are being encouraged to use digital video advertising techniques. The market in Asia Pacific is anticipated to expand the fastest over the forecast period. The market for digital video advertising is driven by the increasing expenditures made by telecommunications firms in high-speed internet services, which in turn encourages consumer use of smart devices, OTT platforms, social media platforms, etc.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Digital Video Advertising Market include SpotX Inc., Advertise.com, Levitate Media, LLC, Viant Technology LLC, Tremor International Ltd., WebFX, Verizon Media, MultiVisionDigital, Conversant Solutions, LLC, Longtail Ad Solutions, Inc, Legacy Pro Co LLC, PubMatic, Inc. and among others.
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Recent Developments
- On April 2023: To enable marketers to use deep, cookie-free, and contextual TV data to efficiently target and measure activations, Viant Technology Inc. teamed with IRIS.TV. The collaboration would provide marketers with greater precision and aid businesses in providing customers with targeted adverts.
- On February 2023: To reduce the carbon footprint of its digital advertising efforts, Viant Technology Inc. partnered with Scope3 and committed to achieve carbon-neutral energy use by 2023.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Digital Video Advertising Market based on the below-mentioned segments:
Digital Video Advertising Market, Ad Format Analysis
- Linear video ad
- Non-linear video ads
Digital Video Advertising Market, Device Platform Analysis
- Mobile, Desktop
- Gaming Consoles
- Digital Bill Boards
- Others
Digital Video Advertising Market, End Users Analysis
- Retail
- E-Commerce
- IT & Telecom
- Media and Entertainment
- Automotive
- Financial Services
- Consumer Goods & Electronics
- Others
Digital Video Advertising Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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