Digital Video Advertising Market to Hit $1018.1B by 2032, Boosted by Consumer Engagement & Tech Advances

Personalized content, digital platform growth, AI targeting, and immersive videos drive the booming digital video advertising market.

AUSTIN, TX, UNITED STATES, November 27, 2024 /EINPresswire.com/ -- The SNS Insider report indicates that the Digital Video Advertising Market was valued at USD 184.2 billion in 2023 and is expected to grow to USD 1018.1 billion by 2032, experiencing a steady growth rate of 20.9% during the forecast period of 2024-2032.

Several factors are fueling the rising demand for digital video advertising. One major factor is the move of consumers away from linear television to digital, especially among younger consumers, who are more likely to view content on multiple digital devices. Such a move would certainly give advertisers more options to reach niche audiences and optimize ad performance through data. One more key factor fuelling growth is the potential to gain customization in video advertisement through artificial intelligence (AI) and machine learning. Businesses can capitalize on personalized message delivery to consumers according to their interests, habits, and demographic profile to achieve better engagement and ROI from advertising efforts. Features such as 4K, VR, and AR content are new achievements available for video streaming technology, and these allow advertisers to present advertisements to users in a more immersive way, which can make their ad campaigns more effective.

With social media platforms such as YouTube, Facebook, and Instagram, as well as OTT (over-the-top) media services like Netflix and Amazon Prime Video, being key facilitators in the growing adoption of digital video advertising. Advertisers have also turned to these platforms, which boast a larger audience with a greater degree of engagement than can traditional TV ads — appealing to marketers. Although the digital video advertising market may include a number of various segments—ranging from programmatic to mobile video ads, to connected TV ads—there is real momentum here, as ever more consumers pick up on-demand and Discover services. Additionally, advertisers see new possibilities in the developing regions as internet and mobile device usages grow. The digital video advertising landscape has its fair share of growth drivers that open doors to future growth opportunities for a number of players in the industry. A key reason for this is the increasing use of data analytics to refine advertising approaches. This process allows companies to gain insights into consumer habits, tastes, and even habits of watching, which helps them craft more personalized and attractive advertisements.
Over the past decade and a half, an increase in the use of AI and machine learning in programmatic advertising has fundamentally changed the buying and selling of digital video ads. Automating the ad buying process results in lower prices, improved efficiency, and can also result in a more niche targeting of potential users. Conversely, shoppable video ads, wherein consumers can purchase the products on offer without leaving the video, are also predicted to gain traction, contributing towards a more integrated consumer experience and better conversion rates.

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Keyplayers:
Google (YouTube Ads, Google Ads)
Facebook (Facebook Ads, Instagram Ads)
Amazon (Amazon Advertising, Amazon DSP)
Adobe (Adobe Advertising Cloud, Adobe Experience Manager)
Snap Inc. (Snap Ads, Ads Manager)
Twitter (Twitter Ads, Amplify)
TikTok (TikTok Ads, TikTok For Business)
The Trade Desk (Unified ID 2.0, Koa)
Verizon Media (Yahoo Ads, Ad Manager)
IBM (Watson Advertising, IBM Marketing Cloud)
Roku (Roku Advertising, OneView)
LinkedIn (LinkedIn Ads, Sponsored Content)
Vimeo (Vimeo Ads, Vimeo Livestream)
SpotX (SpotX Ad Server, SpotX Exchange)
Magnite (Magnite Ad Server, CTV Solutions)
Xandr (Xandr Invest, Xandr Monetize)
FuboTV (FuboTV Advertising, FuboTV Campaign Manager)
PubMatic (PubMatic Ad Server, PubMatic Connect)
AdColony (AdColony Mobile Ads, Instant-Play Video)
Outbrain (Outbrain Amplify, Outbrain Engage)

Segmentation Analysis

Industry Vertical
In 2023, the market was primarily driven by the retail segment, which held a revenue share of 21.0%. Brands and marketers tracking digital video advertisement through mobiles and desktops, are able to locate and study search result due to its cookie; which gives retailers, elaborate insight into the needs and demands of individual(y) person(s). An opportunity for offline retailers to offer an enriched in-store experience is by understanding the needs and wants of people and providing products as per demand. In addition, digital video advertising too can be performed in stores to enable consumer interaction resulting in better advertisement coordination and maintaining the pursue of the consumer effectively.

The financial services segment is anticipated to grow at a highest CAGR of throughout the forecast period. This is primarily attributed to the increasing need for the customer acquisition and retention in a competitive market. To build awareness, increase awareness of complex financial services, and inspire confidence, financial institutions use digital video advertising to create visibility with their products. The paradigm shift toward personalized financial advice and services has also necessitated targeted marketing campaigns, with digital video being effective in targeting specific audiences and tailoring the messaging. Moreover, corruption and regulations gained attention in the financial sector in the 1990s, which made digital video advertisements talk to consumers more literally and factually.

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Regional Landscape
North America led in terms of revenue share in the digital video advertising market with 35.0% share in 2023. The region has a strong digital backbone, extensive internet coverage and a convoluted advertising system. The platform’s pioneering adoption of online services and a strong culture of digital innovation has made it a leader in digital marketing. In addition, large tech companies and content creators across the region have backed upon producing and consuming quality video content, arguably widening its appeal as a market for advertisers.

The Asia Pacific digital video advertising market is also expected to register the highest CAGR over the forecast period. Improved smartphone penetration and cheap internet access combined with a growing middle class in the region has led to an increase in digital media consumption. The boom in e-commerce platforms and the growing importance of e-commerce have created conducive conditions for digital video ads. Moreover, urbanization and lifestyle changes in many Asian countries raise the needs of entertainment and digital content where video advertising becomes a good choice among brands. Furthermore, the increased usage of OTT platforms and the introduction of new video content formats provide advertisers with even more opportunities to connect with their target audiences.

In 2023, the market share was substantial because to large consumers in China, increasing disposable income. The demand for all kinds of goods and services has caused the need for reaching out to a specific audience in the form of digital video advertising. The penetration of smartphones with high-speed internet connections has also facilitated the ability to watch a video, and the boom of domestic technology firms and short-video networks created preconditions for digital advertising to flourish. Digital video advertising market in China has been largely stimulated by the Chinese government, which encourages the development of its internet industry and develops digital marketing tools.

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Recent Developments
January 2024 - Google launched a new set of AI-powered tools for YouTube advertisers, enabling more precise targeting and enhanced video personalization capabilities. This move aims to increase ad relevance and engagement by leveraging Google's vast data assets
February 2024 - Facebook's parent company, Meta, introduced an innovative suite of video ad formats on its platform, including immersive AR-based video ads. These ads offer brands the ability to integrate digital experiences directly into video content​

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