Dublin, May 18, 2023 (GLOBE NEWSWIRE) -- The "Digital Video Advertising Market By Type, By Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the digital video advertising market was valued at $53.23 billion in 2021, and is estimated to reach $712.6 billion by 2031, growing at a CAGR of 29.6% from 2021 to 2031.
Key Market Players
- Advertise.com
- Conversant Solutions, LLC.
- Tremor International Ltd
- SpotX Inc
- Legacy Pro Co LLC
- MultiVisionDigital
- WebFX
- Levitate Media, LLC
- PubMatic, Inc.
- Viant Technology LLC
Advertisers are increasingly turning to digital video advertising as a result of technological improvements and changing customer behavior.
Individuals are increasingly adopting visual media via venues other than traditional cable and satellite TVs. Non-traditional platforms, such as computers, mobile phones, OTT media platforms, and social media applications, are allowing advertisers to improve their service delivery techniques and open up new revenue streams for marketers and broadcasters.
Key factors driving the growth of the digital video advertising market include increase in usage of digital media and growing adoption from e-commerce sector, the increase in global penetration of smartphones and internet. Rising smartphone penetration and the internet usage across countries such as China, India, the U.S, and others owing to the increasing availability of high-end features and high consumer disposable income drives the market growth.
Furthermore, with the low tariff rates and developments in network infrastructures, Internet penetration is also witnessing a rise resulting in increased consumption of Internet-based services such as social media, web applications, and online portals.
In addition, smartphones and the Internet provide easy access to advertising tools and technologies for easy collaboration and communication. Thus, the increasing penetration of smartphones and the Internet is driving the growth of digital video advertising market.
The market also offers growth opportunities to the key players in the market. E-commerce companies are increasing investment in machine learning and AI solutions to transform advertising companies for providing enhanced services to the end users and to automate the necessary solutions.
In addition, with rising complexity and competition in the market, the demand for industry-specific solutions increased to meet the goals of the companies and AI-based technology solutions are helping industries to enhance their security in online advertising and upsurge their revenue opportunity, which is driving the growth of the market.
Furthermore, AI can analyze huge data sets about consumer's response to online advertising, and those insights are used to boost the performance of advertising companies. Moreover, increasing investments in AI offers the potential to transform the area of automation for time-consuming, everyday processes, and offering a far more streamlined and personalized customer experience, which is enhancing the growth of the market.
In addition, major e-commerce platforms such as Amazon, Netflix, Sky, and others for online buying and selling of products, are investing heavily in AI technologies to develop automated investment advisors and train systems to detect flags such as privacy techniques and for other fraud cases, which in turn is expected to provide lucrative opportunity for the growth of the market.
Key Benefits
- The study provides an in-depth analysis of the global digital video advertising market forecast along with the current and future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global digital video advertising market trend is provided in the report.
- The Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2022 to 2031 is provided to determine the market potential.
Market Dynamics
Drivers
- Increase in usage of digital media
- Growing adoption from E-commerce sector
- Increasing global penetration of smartphones and internet
Restraints
- Risk of security incidents on networks and low speed data connectivity
- The high costs of digital video advertising
Opportunities
- Rising Innovations in the digital advertising Industry
Key Market Segments
By Type
- Desktop
- Mobile
By Industry Vertical
- Retail
- IT and Telecom
- Media and Entertainment
- Automotive
- Financial Services
- Consumer Goods and Electronics
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
For more information about this report visit https://www.researchandmarkets.com/r/6h2pwi
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