Digital Video Advertising Market: By Type (Desktop and Mobile), By End User (Retail & E-commerce, IT & Telecommunication, Automotive, BFSI, Consumer Goods & Electronics, Government, Media & Entertainment and Others), and Geography

Digital Video Advertising Market size was valued at USD 28.3 billion in 2023, poised to grow at a CAGR of 40.9% during the forecast period 2024-30. Digital video advertising is becoming more and more popular among advertisers as a result of advancements in technology and shifting consumer trends. The use of visual media outside of traditional cable and satellite TVs is growing among people. New revenue sources for marketers and broadcasters are being made possible by non-traditional platforms like computers, mobile phones, OTT media platforms, and social media applications. These channels also enable advertisers to improve their service delivery methods. Video marketing and advertising are effective ways to draw in customers.

A method of promoting a certain commodity or service in a video format is known as digital video advertising, often referred to as online video advertising. The video is shared on a number of social networking sites, including Facebook and Instagram, as well as news websites, mobile applications, and video games. Digital video advertising includes online display ads that appear within a programme or website and typically appear prior to, during, or after an online video broadcast. Due to the rise in in-home media consumption, TV viewing, and use of social media platforms and streaming services during the COVID-19 pandemic, advertisers are adapting their digital advertising marketing strategies, which is expected to positively affect the global market for digital video advertising. During the forecast period, an increase in demand for advertising process automation is anticipated to drive the digital video advertising market. Worldwide usage of smart devices such as smartphones and televisions is anticipated to drive the global digital video advertising market during the forecast period.

During the projection period, it is also projected that the emergence of digital technologies like artificial intelligence (AI), cloud computing, and the Internet of Things (IoT) will increase demand for digital video advertising. It is projected that increasing OTT platform adoption will give advertisers more opportunities to increase their digital video advertising. This is thus expected to fuel market expansion. High-quality digital video content presentation helps to increase investments in eCommerce products exhibited on numerous platforms by grabbing customers' attention in brief moments. A significant barrier to the expansion of the digital video advertising industry has been high expenses. Given the growth of social media and digital content in recent years, advertisements have increased dramatically. The price of digital video advertisements keeps going up since it depends so much on the calibre of the content, the volume of visitors needed, and other factors, which slows down demand from small businesses. Furthermore, in order to reach a bigger audience, large investments are required for digital advertising on some of the most well-known and influential platforms, such YouTube, Facebook, and others.  

Digital Video Advertising Market key Developments:

• In June 2021 - Clinch and DeepIntent joined forces to provide patients with relevant digital pharmaceutical ads.
• Pharma marketers will be able to test personalised messaging using a variety of digital platforms, such as display, online video, and CTV, and make changes in real-time. DeepIntent can therefore boost its CTV spending by 20 times as a result of this partnership.
• In February 2021 - Spotify AB has been acknowledged as a Spotify Advertising Partner, according to a statement from D.A.Consortium, Inc. DAC will collaborate with Spotify directly through its DSP MarketOne to provide reservation-based marketing.