Digital Video Advertising Market 2024-2030: Recent Industry Developments and Growth Strategy

February 10, 2021

Videos are a powerful marketing strategy and advertisement option to attract customers. Digital video advertising which is also known as online video advertising, is a strategy of advertising a particular product or service in a video format. The video is broadcast on various social media platforms such as Facebook, and Instagram, or on news websites, mobile applications, and games.
Digital video advertising encompasses online display advertisements within an application or website; it generally occurs before, during and/ or after a video stream on the internet.
The global digital video advertising market is projected to expand at a rapid pace during the forecast period, due to increasing demand to adopt innovative ways of advertising to attract customers in the digital world.

Increase in demand for automation of advertisement processes is expected to boost the digital video advertising market during the forecast period.
Rising technological advancements and changing consumer behavior have encouraged advertisers to adopt innovative ways of advertising. This is primarily because currently, the consumer is more focused on brands and products.
Rise in adoption of Augmented Reality (AR) and Virtual Reality (VR) in digital marketing is expected to boost the demand for digital video advertising across the globe. For example, Google is working on VR advertising.
Increase in online shopping and significant shift in consumer buying patterns have pushed the demand for digital video advertising
Increasing adoption of smartphones, smart televisions etc. in rural and urban areas across the globe is estimated to propel the global digital video advertising market during the forecast period
Emergence of digital technologies such as artificial intelligence (AI), cloud computing, and Internet of Things (IoT) is also anticipated to boost the demand for digital video advertising during the forecast period.

Request PDF Sample For More Information@

Rising usage of OTT platforms worldwide is anticipated to offer advertisers the opportunity to increase their digital video advertising. This in turn is anticipated to propel the market growth during the forecast period.
However, the effect of GDPR and other privacy regulations on the use of internet data are expected to hamper the digital video advertising market during the forecast period.

The COVID-19 pandemic has caused a significant drop in advertising spending by end-users. For instance, according to the Interactive Advertising Bureau, spending on advertisements are down 9% on average across Europe, with Germany and France falling by 7% and 12% respectively. Additionally, in China, advertising revenue is down by around 15%. During the COVID-19 pandemic, in-home media usage, TV viewership, and use of social platforms and streaming services is seen increasing; hence, advertisers are adapting digital advertising marketing strategies, which in turn is projected to have a positive impact on the global digital video advertising market.

In terms of region, the global digital video advertising market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

North America dominated the global digital video advertising market in 2019, due to the significant adoption of smartphones and smart televisions in the region. Furthermore, increasing shift from traditional cable TVs to OTT media delivery platforms is expected to fuel the digital video advertising market during the forecast period.
The digital video advertising market in Asia Pacific is projected to expand at a rapid pace during the forecast period. This can be attributed to growing investments by telecommunication players on providing high-speed internet services, which in turn increases the adoption of smart devices, OTT platforms, social media platforms etc,. indirectly propelling the digital video advertising market.