Global Digital Video Advertising Market Set to Surge to $734.82 Billion by 2030, Driven by Technological Advancements and Shifting Consumer Behavior

The Digital Video Advertising Market  Size is projected to grow at a CAGR of 41.1% from 2024 to 2030, according to industry reports.

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Market Estimation & Definition

Digital video advertising refers to promotional content delivered through online video platforms, social media, and streaming services. With technological advancements and changing consumer behavior, advertisers are increasingly leveraging digital video to engage audiences across various devices beyond traditional television.

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Market Growth Drivers & Opportunities

Several key factors are propelling the growth of the digital video advertising market:

1. Increased Usage of Digital Media: The global population's growing reliance on social media platforms like Facebook, Twitter, and Instagram, along with the rising popularity of OTT platforms such as Netflix and Amazon Prime, is driving the digital video advertising market forward. Organizations are allocating more resources to digital advertisements to capitalize on these platforms' extensive reach, particularly among younger demographics.

2. Adoption by the E-Commerce Sector: The e-commerce industry is significantly investing in digital video advertising to attract and retain customers. Major e-commerce companies like Amazon and Flipkart utilize online advertising across social media, gaming platforms, and television to enhance product visibility and drive sales. High-quality digital video content effectively captures consumer attention, leading to increased investments in e-commerce products showcased on multiple platforms.

3. Surge in Short-Form Video Content: Short-form videos, typically under 90 seconds, have become a vital tool for marketers aiming to engage consumers with diminishing attention spans. Platforms like TikTok, YouTube Shorts, and Instagram Reels generate more than twice the engagement of longer videos, with 66% of video ads now under 30 seconds. This format's high retention rates and viewer engagement make it particularly lucrative, with expected revenue exceeding $99 billion.

4. Shift from Linear TV to Internet Advertising: Advertisers are increasingly allocating budgets to online channels due to media landscape fragmentation. In the past financial year, internet advertising investments reached $15.6 billion, marking a 9.7% increase. Video advertising experienced significant growth, increasing by 18.6% to $4.1 billion, with connected TV receiving 55% of investments in content publishers' video inventory. As audiences migrate to online services, traditional linear TV budgets are declining.

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Segmentation Analysis

The digital video advertising market is segmented based on type and application:

• By Type:

  • Mobile: The mobile segment is expected to grow at a high rate during the forecast period. This rapid increase can be attributed to the widespread availability of low-cost smartphones and a growing propensity among consumers to view content at their leisure. Several mobile games reward players with game credits or coins in exchange for watching digital video advertisements, providing advertisers with a new avenue to expand their reach.

  • Desktop: The desktop segment held the largest share of 62% in 2023. Consumers' changing lifestyles and interests are leading to a shift away from television and toward alternative digital media outlets, making desktop platforms a significant medium for digital video advertising.

• By Application:

  • Retail: The retail segment dominated the market and accounted for a revenue share of 20.8% in 2023. Digital video advertising via mobiles and desktops allows brands and marketers to identify and analyze search results using cookies, giving retailers an in-depth understanding of consumers’ needs and demands. This insight offers offline retailers a chance to enhance customers’ in-store experience by providing products according to their requirements.

  • Financial Services: This segment is expected to register a significant CAGR of 24.4% during the forecast period. The rising demand for acquiring and retaining customers in a highly competitive market drives financial institutions to leverage digital video ads to create brand recognition, educate customers about intricate financial services, and build confidence.

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Country-Level Analysis

• United States: The U.S. digital video advertising market is experiencing significant growth due to the increasing adoption of digital media platforms and the shift from traditional television to online streaming services. Major players like Amazon are expanding their advertising offerings, introducing tools to help advertisers manage and enhance their streaming ad purchases across platforms.

• Germany: Germany's entertainment and media sector is projected to grow substantially, with the country's digital video advertising market benefiting from increased advertising spending and rising consumer engagement with video streaming, social networking, and gaming.

Competitive Analysis

The digital video advertising market is characterized by strong competition, with several key players striving to enhance their market position through innovation and strategic initiatives:

• Amazon: Amazon introduced ads by default to its Prime Video service to maintain an edge in the competitive streaming market, leveraging its data and extensive reach of 115 million viewers monthly, growing to 175 million with its full TV offering. The company also unveiled a new tool, Complete TV, to help advertisers manage and enhance their streaming ad purchases across platforms.

• Alphabet Inc. (Google): Through its subsidiary YouTube, Alphabet Inc. remains a dominant player in the digital video advertising space, continually innovating to offer advertisers effective platforms for reaching target audiences.

• Meta Platforms, Inc. (Facebook): Meta continues to expand its video advertising capabilities across its platforms, including Facebook and Instagram, providing advertisers with extensive reach and targeting options.

• ByteDance Ltd. (TikTok): TikTok's rapid growth and popularity, particularly among younger demographics, have made it a significant player in the digital video advertising market. However, potential regulatory challenges, such as a possible ban in the U.S., could impact its market position.