The Digital Video Advertising market in North America is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances.
Customer preferences: Customers in North America are increasingly turning to digital video advertising as their preferred method of consuming content. With the rise of streaming platforms and the increasing availability of high-speed internet, customers are embracing the convenience and flexibility of digital video advertising. They can now watch their favorite shows and movies on demand, without the need for traditional cable or satellite subscriptions. Additionally, customers appreciate the personalized and targeted nature of digital video advertising, as it allows them to receive content that is relevant to their interests and preferences.
Trends in the market: One of the key trends in the North American digital video advertising market is the growth of over-the-top (OTT) platforms. These platforms, such as Netflix and Hulu, offer a wide range of digital video content that can be accessed through internet-connected devices. As a result, traditional television advertising is being challenged by digital video advertising on these platforms. Advertisers are recognizing the opportunity to reach a highly engaged and targeted audience through OTT platforms, leading to increased investment in digital video advertising. Another trend in the market is the increasing popularity of mobile video advertising. With the widespread use of smartphones and tablets, consumers are spending more time on their mobile devices, creating a prime opportunity for advertisers to reach them through mobile video ads. Advertisers are leveraging the immersive and interactive nature of mobile video advertising to engage with customers and drive brand awareness. This trend is expected to continue as mobile usage continues to rise.
Local special circumstances: The North American market is unique in its size and diversity. It consists of multiple countries with different cultural, linguistic, and regulatory environments. Advertisers need to tailor their digital video advertising strategies to the specific needs and preferences of each country. For example, in the United States, where English is the dominant language, advertisers can focus on creating English-language content. However, in Canada, where both English and French are widely spoken, advertisers may need to consider creating bilingual content to effectively reach the target audience.
Underlying macroeconomic factors: The North American digital video advertising market is also influenced by underlying macroeconomic factors. The region has a strong and stable economy, which provides a favorable environment for advertising investment. Additionally, North America has a high level of internet penetration and smartphone adoption, which further fuels the growth of digital video advertising. These factors, combined with the changing customer preferences and emerging trends, contribute to the rapid development of the digital video advertising market in North America. In conclusion, the Digital Video Advertising market in North America is experiencing significant growth due to changing customer preferences, emerging trends, and local special circumstances. Customers are increasingly turning to digital video advertising as their preferred method of consuming content, and advertisers are capitalizing on this trend by investing in over-the-top platforms and mobile video advertising. The region's size and diversity present unique challenges and opportunities for advertisers, who need to tailor their strategies to the specific needs and preferences of each country. The strong and stable economy, high internet penetration, and smartphone adoption in North America further contribute to the growth of the digital video advertising market.
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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