According to the FMI analysis, the market for social video advertising is projected to be worth $14.1 billion in 2022 and to reach $198.6 billion by 2032, rising at a CAGR of 30.4%. The latest industry analysis from FMI on social video advertising predicts that as consumers’ concerns about companies and products grow, so will demand for social video advertising.
Additionally, the growing use of smartphones, smart TVs, and other video advertising devices in both urban and rural areas of the world is anticipated to drive the expansion of the global social video advertising market throughout the course of the projected period. Digital technologies such as artificial intelligence (AI), cloud computing, and the Internet of Things (IoT) are likely to boost demand for social video advertising throughout the forecast period.
Taking advantage of the expanding use of OTT platforms around the world, advertisers are continually boosting their social media advertising spending and social video advertising.
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As a result, the social video advertising market outlook is predicted to grow between 2022 and 2032. To keep up with the current market trends, Google, for example, is experimenting with virtual reality advertising.
The adoption of social video advertising is increasing as it helps businesses enhance brand exposure, sales, and profits. Furthermore, social video advertising aids in the achievement of business objectives. Advertisers are battling for attention by focusing their efforts on digital giants such as Facebook and Google.
The majority of social media advertising market revenue is expected to be spent on mobile advertising, fueling the rise of the social video advertising market share, due to the increasing usage of smartphones to access social media apps such as Facebook and YouTube. The introduction of new social video advertising market trends like vertical filmmaking and 360° digital videos has given the market a lot of room to grow.
KEY TAKEAWAYS:
- The Asia Pacific market is predicted to grow rapidly during the forecast period.
- With a CAGR of 33.4 percent, China is the most profitable market for social video advertising.
- Furthermore, the market for social video advertising in India is expected to develop at a CAGR of 30.8 percent over the forecast period.
- As a result, these factors are expected to drive indirect development in the Asia Pacific market during the forecast period.
- From 2022 to 2032, the global social video advertising market is predicted to grow at a 26.9% compound annual growth rate (CAGR) in the United States.
- The retail and consumer packaged goods (CPG) segment hold the highest proportion of 35%.
- Brands/companies are gaining traction and dominating the social video advertising industry by end user. The brands/companies are predicted to grow at a breathtaking 14.2 percent CAGR over the forecast period of 2022-2032.
- Due to advertising organizations’ increased usage of social media platforms to reach targeted clients, as well as the high use of smartphones rather than PCs for social media platforms, social ad services are likely to dominate the market.
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COMPETITIVE LANDSCAPE :
Some of the social video advertising market players profiled in the FMI’s study are Advertise.com
Conversant LLC, Longtail Ad Solutions, Inc., PubMatic, Inc., SpotX, Inc., Tremor International Ltd., Vdopia, Inc. DBA Chocolate, Verizon Media, Viant Technology LLC, and ZypMedia.
Segmentations :
By Solution:
- Ad Platform
- Social Ad Services
- Advertising Consulting
- Implementation & Integration
- Support and Maintenance
By End User:
- Ad Agencies
- Brands/Companies
- Publishers
By Vertical:
- Retail & CPG
- Healthcare
- Banking, Financial Service & Insurance
- Real Estate
- Travel & Hospitality
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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