The Digital Video Advertising Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Digital Video Advertising Global Market Report 2024, The digital video advertising market size has grown exponentially in recent years. It will grow from $78.47 billion in 2023 to $105.09 billion in 2024 at a compound annual growth rate (CAGR) of 33.9%. The growth in the historic period can be attributed to internet and mobile penetration, data analytics and targeting, mobile app growth, social media video integration, cost-effective production.
The digital video advertising market size is expected to see exponential growth in the next few years. It will grow to $339.46 billion in 2028 at a compound annual growth rate (CAGR) of 34.1%. The growth in the forecast period can be attributed to smart TVs and connected devices, interactive video formats, programmatic advertising, globalization of content, vertical-specific content. Major trends in the forecast period include AI for ad optimization, 360-degree and virtual reality (VR) video ads, user-generated content (UGC) in video ads, measurement and attribution metrics, cross-channel marketing.
Increased digital media usage is expected to drive the growth of the digital video advertising market in the future. Digital media are communication mediums that use different encoded machine-readable data formats. Digital media helps the digital video advertising market by promoting the different brands of companies, and the rise in the consumption of digital media across many platforms has opened new possibilities. For instance, in 2021, according to the Internet Architecture Board, a US-based industry benchmark for the health of the digital advertising ecosystem, spending on digital video advertising increased by 49%in 2021 and is projected to rise by another 26%to $49.2 billion in 2022. Thus, increased usage of digital media is driving the growth of the digital video advertising market.
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The digital video advertising market covered in this report is segmented –
1) By Advertisement Type: Linear Video Ad, Nonlinear Video Ad, In Stream Video Ad, Out Stream Video Ad, Other Advertisement Types
2) By Platform: Desktops, Mobile Devices, Tablets, Smart TV, Gaming Consoles, Bill Boards, Other Platforms
3) By End-User: Retail And E-Commerce, Automotive, BFSI, IT And Telecommunication, Consumer Goods And Electronics, Media And Entertainment, Government, Other End Users
Major companies operating in the digital video advertising market are focusing on developing advanced technological such as AI-powered ads, to strengthen their position in the market. AI-powered ads are advertisements that leverage artificial intelligence (AI) to enhance different aspects of the advertising process, from targeting and personalization to creation and optimization. For instance, in May 2023, Google LLC, a US-based multinational technology company, introduced AI-powered ads, putting AI front and center in Google Ads. The new feature enables a chat-based interaction with Google AI to simplify campaign creation, generating relevant keywords, headlines, and other assets. The integration of generative AI into Search ads enhances ad effectiveness by dynamically adapting content based on user queries, improving relevance and aligning with brand messaging.
The digital video advertising market report table of contents includes:
1. Executive Summary
2. Digital Video Advertising Market Characteristics
3. Digital Video Advertising Market Trends And Strategies
4. Digital Video Advertising Market Size And Growth
5. Digital Video Advertising Market Segmentation
……
26. Digital Video Advertising Market Regional And Country Analysis
27. Digital Video Advertising Market Competitive Landscape And Company Profiles
28. Digital Video Advertising Market Key Mergers And Acquisitions
29. Digital Video Advertising Market Future Outlook and Potential Analysis
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