The global digital video advertising market size is anticipated to reach USD 292.4 billion by 2027, exhibiting a CAGR of 41.1% over the forecast period, according to a new report by Grand View Research, Inc. The fusion of big data analytics with advertising offers promising growth prospects to the market due to the generation of vast volumes of user data. The vast amount of data has enabled marketers to carefully analyze user data and showcase specially curated advertisements according to the viewing trends of audiences. Additionally, the integration of analytics tools in advertisement platforms enables advertisers to analyze the effectiveness of advertising campaigns and thus make relevant changes as and when required.
Blockchain
technology is expected to offer exciting growth prospects to advertisers
in the future. Blockchain, being a secure distributed ledger, provides the
ability to safely track audiences, path, budget spend, and conversion rates to
network participants only. A buyer can buy an impression, which is verified by
the publisher, and only then can it be added to the ledger. The implementation
of blockchain technology enables everyone in the chain to see impression
events, validate, and approve the changes made by individuals to create a more
transparent marketplace.
Further,
the fusion of cloud computing technology with digital video advertising
provides promising growth to the sector, owing to the former’s enhanced ability
to distribute dynamic and interactive advertisements to brands and marketers
efficiently. An ad-based cloud platform helps brands and marketers to optimize
spend across several channels. Cloud-based supply-side platforms enable
advertising agencies to efficiently produce and offer various video
advertisements to its clients, based on their needs and requirements.
Furthermore, cloud-based platforms are also expected to facilitate the creation
of personalized ads via an original optimization product.
The
induction of Augmented Reality (AR) technology in digital marketing
techniques offer promising growth prospects to the digital video ad market,
owing to the ability of the technology to provide better inter-personal
experience to viewers. The immersive nature of technology enables marketers to
create deeper connections with audiences to portray a better brand image, which
is essential in driving sales. Additionally, deploying AR-enabled
advertisements offers more cost-effective options to brands and agencies as
compared to traditional print media corporations. AR technology-based
advertisements can offer marker-based and location-based advertisements, which
further allow companies to practice hyperlocal advertising methods and
consequently boost sales outcomes.
For more info visit here: https://www.grandviewresearch.com/industry-analysis/digital-video-ad-market
Digital Video
Advertising Market Highlights
- The mobile
segment is envisioned to witness the highest CACR over the forecast period
due to the incrementing penetration of smartphones and its ability to play
video ads in several formats
- The retail
segment is expected to capture the significant CAGR over the forecast
period owing to the rising trend in the usage of internet-based buying
platforms by individuals
- Asia Pacific
is expected to emerge as the fastest-growing regional digital video ad
market due to the availability of low-cost internet plans and rising usage
of subscription-free media streaming platforms.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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