The Digital Video Advertising market in Colombia has been experiencing significant growth in recent years.
Customer preferences: Colombian consumers are increasingly turning to digital platforms for their entertainment needs, which has led to a surge in demand for digital video advertising. This shift in consumer behavior can be attributed to several factors. Firstly, the increasing penetration of smartphones and affordable internet access has made it easier for Colombians to access digital content on the go. Secondly, the rise of social media platforms and streaming services has provided consumers with a wide variety of digital video content to choose from. As a result, advertisers are increasingly investing in digital video advertising to reach their target audience.
Trends in the market: One of the key trends in the Digital Video Advertising market in Colombia is the growing popularity of programmatic advertising. Programmatic advertising allows advertisers to automate the buying and selling of digital ad inventory, making it more efficient and cost-effective. This trend is driven by the increasing availability of data and advanced targeting capabilities, which enable advertisers to deliver personalized and relevant ads to their audience. As a result, programmatic advertising is expected to continue gaining traction in the Colombian market. Another trend in the market is the rise of mobile video advertising. With the increasing adoption of smartphones in Colombia, consumers are spending more time watching videos on their mobile devices. This has created new opportunities for advertisers to reach their target audience through mobile video ads. Advertisers are leveraging the unique features of mobile devices, such as location-based targeting and interactive ad formats, to deliver engaging and impactful video ads to consumers.
Local special circumstances: Colombia has a vibrant and growing digital ecosystem, which has contributed to the development of the Digital Video Advertising market. The country has a young and tech-savvy population, who are early adopters of new technologies and platforms. This has created a favorable environment for digital video advertising to thrive. Additionally, Colombia has a strong creative industry, which has led to the production of high-quality video content that attracts viewers and advertisers alike.
Underlying macroeconomic factors: The growth of the Digital Video Advertising market in Colombia is also influenced by underlying macroeconomic factors. Colombia has experienced steady economic growth in recent years, which has increased consumer purchasing power and discretionary spending. This has created a larger market for advertisers to tap into. Furthermore, the Colombian government has been supportive of the digital industry, implementing policies to promote investment and innovation in the sector. These factors have contributed to the development and expansion of the Digital Video Advertising market in Colombia.
Data coverage:
Data encompasses enterprises (B2B). Figures are based on digital video advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers video ad formats (web-based, app-based, social media, and connected devices).Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use market data from industry reports and survey results from our primary research (e.g., Consumer Insights Global Survey) to analyze the markets. Then we benchmark key countries or regions (United States, China, Europe, Asia, and Africa) results with country-specific advertising organizations or associations. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, internet users, and digital consumer spending.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.Additional notes:
Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.
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