Digital Video Advertising Market Scope and Its Applications Are Rising Enormousl
Posted by Nicky Arora on April 15th, 2021
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.
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Digital Video Advertising Market Highlights
Digital Video Advertising Market Segmentation
Grand View Research has segmented the global digital video advertising market on the basis of type, industry vertical, and region:
Digital Video Ad Type Outlook (Revenue, USD Billion, 2016 - 2027)
Digital Video Ad Industry Vertical Outlook (Revenue, USD Billion, 2016 - 2027)
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About the AuthorNicky Arora
Joined: October 15th, 2019
Articles Posted: 389
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