The Digital Video Advertising market in Latvia has been experiencing significant growth in recent years, driven by changing customer preferences and the increasing popularity of digital platforms. Customer preferences have shifted towards consuming video content online, with a growing number of people using smartphones, tablets, and other devices to watch videos. This has led to a surge in demand for digital video advertising, as advertisers recognize the effectiveness of reaching consumers through this medium. Moreover, the rise of social media platforms and video-sharing websites has provided new opportunities for advertisers to target specific audiences and engage with them in a more interactive and personalized way. Trends in the market indicate that programmatic advertising is becoming increasingly popular in Latvia. Programmatic advertising allows advertisers to automate the buying and selling of ad inventory, enabling them to reach their target audience more efficiently and effectively. This trend is driven by the availability of data and advanced targeting capabilities, which enable advertisers to deliver personalized and relevant ads to consumers. Furthermore, the use of programmatic advertising has been facilitated by the development of ad exchanges and demand-side platforms, which provide a transparent and efficient marketplace for buying and selling digital video advertising. Local special circumstances in Latvia also contribute to the development of the Digital Video Advertising market. The country has a high internet penetration rate and a tech-savvy population, which creates a favorable environment for digital advertising. Moreover, the relatively small size of the Latvian market allows advertisers to reach a significant portion of the population with targeted campaigns, making it an attractive market for both local and international advertisers. Underlying macroeconomic factors also play a role in the growth of the Digital Video Advertising market in Latvia. The country has experienced steady economic growth in recent years, which has led to increased consumer spending and a higher demand for goods and services. This has created opportunities for advertisers to promote their products and services through digital video advertising, as they seek to capitalize on the growing consumer market. In conclusion, the Digital Video Advertising market in Latvia is developing rapidly due to changing customer preferences, the rise of digital platforms, and the adoption of programmatic advertising. These trends, coupled with local special circumstances and underlying macroeconomic factors, have created a favorable environment for the growth of the market. As digital video advertising continues to evolve, it is expected to play an increasingly important role in the marketing strategies of businesses in Latvia.
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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