According to the report, the global digital video advertising market generated $53.2 billion in 2021, and is estimated to reach $712.6 billion by 2031, witnessing a CAGR of 29.6% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios.
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.
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 impacting 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 are expected to offer remunerative opportunities for the expansion of the digital video advertising market during the forecast period.
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Digital Video Advertising Market Segmentation Review:
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.
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.
By region, North America garnered the highest share in 2021, holding nearly one-third of the global digital video advertising market revenue in 2021, and is projected to retain its dominance by 2031. The LAMEA region would portray the fastest CAGR of 33.2% during the forecast period owing to, increasing penetration of mobile phones and internet in this region. Driving the usage of social media apps such as TikTok, Facebook and Instagram.
Leading Digital Video Advertising 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
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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.
Covid-19 scenario
- The restrictive containment measures involving social distancing, remote working, and the closure of commercial activities drove the online advertising industry. Many firms transferred their advertising to digital platforms as most end consumers already operate online.
- However, rise in the use of social media and digital content, advertisements have increased the costs of digital video advertising, which in turn hampered the growth of the market during the lockdown period.
The digital video advertising market has witnessed stable growth during the COVID-19 pandemic, owing to advertisers increasingly turning to digital video advertising as a result of technological improvements and changing customer behavior. Furthermore, individuals are increasingly adopting visual media via venues other than traditional cable and satellite TVs. Non-traditional platforms, such as computers, mobile phones, OTT media platforms, and social media applications, are allowing advertisers to improve their service delivery techniques and open new revenue streams for marketers and broadcasters.
In addition, the COVID-19 pandemic has resulted in changes in model performance, as more continuous monitoring and validation is required to mitigate various types of risks, compared to static validation and testing methods, which, in turn, drive the development of advanced technology models. In addition, with rapid digital transformation, various governments have introduced stringent regulations to protect end users’ data such as The Federal Trade Commission (FTC) regulates the content of digital video advertising industry and disclosures made in privacy policies through Section 5 of the FTC Act, which prohibits unfair and deceptive acts or practices, General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA).
Thus, governments in various countries have taken strict actions toward the defaulters of COVID-19 regulations, and natural language processing technology is helping end-users to scan their internal policies as well as Ads that cause economic injury, and other compliance with different regulatory policies. However, COVID-19 pandemic is making it even harder for larger companies to keep pace, and even more difficult for midsize and smaller companies to adopt AI technologies, owing to long development timelines and high investment requirements.
The integration of advanced technologies such as AI and other digital technology models is helping the industries to improve various aspects of a company such as perception, reasoning, learning, and problem solving of the human mind for detecting and predicting risks, which, in turn, is driving the growth of the digital video advertising market. For instance, in July 2021, Huawei Technologies Co., Ltd., a China-based technology corporation, along with Wavemaker, a South Africa-based regional division media company, launched an innovative digital advertising platform to roll out HUAWEI Ads.
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The Huawei Digital Platform for digital transformation uses AI, video, big data, and security for data convergence, operational issues, and new business value. Moreover, various public and private entities are expected to come together to create ecosystems to share data for multiple use cases under a common regulatory and cybersecurity framework, which, in turn, is expected to provide lucrative opportunity for the growth of the global digital video advertising market.
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