The global digital video advertising market is expected to grow at a CAGR of 35% during the forecast period of (2018-2023). This is the fastest growing network in the field of advertising. The main contributors for this market are the devices used for viewing these digital ads and the various services platforms who render services in publishing or advertising the video ad. In the coming year’s large amount of money will be invested for digital advertising. Most of the ad revenue will be spend on mobile advertising.
What is Digital Video Advertising?
Videos are the most powerful way to attract customers and as a result video advertising are gaining popularity in the present scenario. Digital video advertising or online video advertising, simply means advertising a particular product or a service in a video format and which is viewed on network connected devices like Facebook, websites or using certain mobile applications and games. Today most of the users are viewing the videos on various devices like desktop, mobile and tablets. Video advertising is the most interactive marketing strategy and it is more engaging. These video ads are published to increase their brand awareness. The advertiser is given the freedom to choose the place and the type of ad he wants to publish in the digital platform based upon his product or service.
What are the uses of Digital Video advertising?
When the marketer is going to use video advertising as his strategy tool he must keep in mind what is the goal he is looking for: Is it brand awareness, lead generation or he wants to increase his revenue. Since video ads play an important role in obtaining the above mentioned goals, he has to plan accordingly as whom to target and what to publish. In case of brand awareness the marketer should display the video to the targeted audience. These video ads will help people in making decisions. The content of the video should be relevant to the targeted audience. The video advertisement also helps the marketer to target the audience on multiscreen at a single go. Digital video helps in gaining global awareness. The one main advantage of the online video advertising is that the results can be tracked and also where and how much money is spend can also be tracked, hence saving both time and money.
Market Research and Market Trends of Digital Video Advertising
Google is been working on VR advertising, the future is expected to be more of VR technologies.
In the coming years the digital ads will be played on the connected TVs as well (Smart TV)
While the VR technology is still at its infancy, the AR technology has already got its recognition in the market. Brands like Ikea has been adopting the AR technology for promotions
Mobile videos are gaining importance as they play a key role in generating revenues
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The companies referred in the market research report includes Interactive Advertising Bureau, Buzzfeed, Mashable Vice and others.
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