Digital Video Advertising Market Expected To Reach $339.46 Billion By 2028: Internet Penetration Driving The Market
Digital Video Advertising Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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The digital video advertising market has seen rapid growth in recent years, expanding from $78.47 billion in 2023 to an expected $105.09 billion in 2024 at a compound annual growth rate (CAGR) of 33.9%. This growth has been driven by increased internet and mobile usage, advancements in data analytics and targeting, the rise of mobile apps, integration of video on social media platforms, and more cost-effective production methods.
How Big Is the Global Digital Video Advertising Market2 Expected to Grow, and What Is Its Annual Growth Rate?
The digital video advertising market is projected to experience exponential growth in the coming years, reaching $339.46 billion by 2028, with a compound annual growth rate (CAGR) of 34.1%. This growth is driven by factors such as the adoption of smart TVs and connected devices, interactive video formats, programmatic advertising, content globalization, and vertical-specific content. Key trends during the forecast period include the use of AI for ad optimization, 360-degree and virtual reality (VR) video ads, incorporating user-generated content (UGC) in video ads, advancements in measurement and attribution metrics, and cross-channel marketing.
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What Is Driving the Growth of the Digital Video Advertising Market?
The growth of the digital video advertising market is expected to be driven by rising internet access and connectivity. Internet penetration, measured as the proportion of a population using the internet, is increasing worldwide, expanding the potential audience for video ads. This wider access allows brands to reach previously untapped markets and diverse demographic groups.
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Which Leading Companies Are Driving The Growth Of The Digital Video Advertising Market Share?
Major companies operating in the digital video advertising market report are Google LLC, Verizon Media, Comcast, Meta Platforms Inc., Tencent Holdings Ltd, ByteDance Ltd, Amazon Advertising, LinkedIn Corporation, Advertise.Com, Snap Inc., Twitter Inc., Hulu Ad Manager, Roku Inc
What Are The Key Trends Driving The Growth Of The Digital Video Advertising Market Size?
Leading companies in the digital video advertising market are prioritizing the development of advanced technologies like AI-powered ads to reinforce their market presence. AI-powered ads utilize artificial intelligence to improve various facets of advertising, including targeting, personalization, creation, and optimization.
How Is the Global Digital Video Advertising Market 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
North America: The Leading Region in the Digital Video Advertising Market
North America will be the largest region in the digital video advertising market in 2023. The regions covered in the digital video advertising global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Is the Digital Video Advertising Market?
Digital video advertising is a marketing strategy that involves using short, informative videos to promote a product before, during, or after the main content. This approach allows brands to deliver promotional content to a vast audience, aiming to boost sales, create buzz, and convey information in a concise and engaging way.
The Digital Video Advertising Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Digital Video Advertising Market3 Report: Trends, Opportunities, Strategies, and More
The Digital Video Advertising Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into digital video advertising market size, digital video advertising global market drivers and trends, digital video advertising global market major players, digital video advertising competitors' revenues, digital video advertising global market positioning, and digital video advertising market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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