According to FMI’s latest market report on social video advertising, demand for social video advertising is likely to rise as consumers’ worries about brands and products develop.
As per the study at FMI,?the social video advertising market is estimated to be valued at US$ 14.1 Billion in 2022 and is anticipated to reach US$ 198.6 Billion by 2032, growing at a CAGR of 30.4%. According to FMI’s latest market report on social video advertising, demand for social video advertising is likely to rise as consumers’ worries about brands and products develop.
Furthermore, rising use of smartphones, smart televisions, and other video advertising devices in rural and urban areas around the world is likely to fuel global social video advertising market growth over the forecast 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 social video advertising 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 social video advertising market a lot of room to grow.
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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.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Mar 23, 2023