The global digital video ad market size is estimated to grow by USD 249.42 bn from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 37.19% during the forecast period. North America held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 42%.
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Major Players in the Market
Numerous companies are capitalizing on this growing trend by implementing strategic measures such as alliances, partnerships, mergers, and acquisitions. Among the notable players in the cheese based snacks market are:
Advertise.com Inc., Alphabet Inc., ByteDance Ltd., Digital Turbine Inc., Kargo Global Inc., Longtail Ad Solutions Inc., Magnite Inc., MediaMath Inc., Meta Platforms Inc., Microsoft Corp., Pinterest Inc., PubMatic Inc., Snap Inc., Tencent Holdings Ltd., Tremor International Ltd, Twitter Inc., Vdopia Inc., Verizon Communications Inc., Viant Technology LLC, Vireo Video Inc.
Analyst Review
In the dynamic business-to-business (B2B) landscape, enterprises continue to invest significantly in video advertising. Video advertising spending reaches new heights, with agencies earning commissions on these transactions. Rebates and production costs are crucial factors in the video ad market, impacting the overall budget. Taxes add to the expenses, but they are essential for compliance. Web traffic and media consumption have surged, driven by the increasing number of internet users. Digital consumer spending, particularly in the e-commerce sector, is a major contributor to the growth of digital video contents. Internet usage and digital capabilities are essential for enterprises to adapt to changing consumer behavior. Visual media dominates the marketing scene, with non-conventional platforms like desktops, mobile phones, OTT media platforms, and social media applications gaining popularity. Service delivery methodologies have evolved, with broadcasters embracing digital video contents to engage audiences effectively. The engagement rate is a critical metric for measuring the success of digital video ad campaigns.
Key Market Drivers
The Digital Video Ad Market experiences significant growth due to the increasing popularity of advertising campaigns on apps. Brands leverage video filming technology and recording equipment to create engaging content for Connected TVs, social media accounts, and OTT platforms. In-app advertisements offer brand exposure and loyalty, reaching targeted audiences through data collection. Advertising types include in-banner digital ads and companion ads, contributing to the online advertising industry’s expansion. High-speed internet and technical improvements enable the online consumer spending trend, with digital spending on the S-curve function. Small businesses and enterprises (B2B) invest in video advertising, incurring production costs, agency commissions, rebates, taxes, and web traffic. Hindrances like quality of content and volume of traffic impact market growth. YouTube, Facebook, and e-commerce sites dominate digital content consumption, driving video advertising spending. The exponential trend smoothing of technology adoption in the e-commerce sector fuels the market’s exponential growth.
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