Impact of COVID-19 on the Global Video Ad Insertion Platform Market

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Video ad Insertion Platform Market – Introduction

  • Video ad insertion platform IT enables marketers to serve different advertisements to each viewer based on consumer insights and ad campaign results. Increasing demand for OTT platforms, technological advances, and an increase in the number of internet users are all boosting the video ad insertion platform industry. Furthermore, the 6-second ad is gaining attention on various social media sites. According to new research from the Advertising Research Foundation, six-second TV advertisements attract 8% to 11% more attention per second as compared to longer ads.
  • Digital marketing trends and advanced connectivity choices, such as tablets and smartphones, and rise in mobile advertising trends are key factors that are estimated to propel the demand for the video ad insertion platform in the next few years. Video-based advertisement solutions enable businesses to communicate their promotions and deals to consumers more effectively.

Key Drivers of the Video ad Insertion Platform Market

  • Rise in adoption of connected TV for promoting brands is compelling businesses to adopt video ad insertion platform for digital video advertising. This platform enables marketers to sell specific ads to each individual through social media pages, which results in strengthening the position of an organization in the market.
  • Availability of affordable 4G and LTE internet services is also a major factor that is projected to fuel the demand for the video ad insertion platform in the near future. Organizations use video ad insertion platform as primary tools to advertise their goods and services. The platform also helps reduce paper costs and signifies a quick and easy way to communicate with targeted customers. It facilitates the incorporation of modern, creative advertising approaches with existing marketing campaigns in order to maximize their effectiveness and reachability.
  • However, high initial investments and a lack of technical expertise are major factors restraining the video ad insertion platform market

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Impact of COVID-19 on the Global Video Ad Insertion Platform Market

The COVID-19 pandemic has a strong impact on all end-user sectors. People stay at home more during pandemic situations. Businesses across the globe have been impacted by the virus in a number of ways, ranging from financial losses to the disruption in the supply chain. Consequently, the consumer shifted from traditional marketing to online purchasing. Therefore, a rise in online purchasing has boosted the demand for video ad insertion platform. For instance, according to the Interactive Advertising Bureau, almost 24% of media consumers, planners, and brands have put their ad spending on hold in the mid of 2020. Several companies are preparing to change their operations, as a majority of end-users, presently, are working digitally.

North America Accounts for Dominant Share of Global Video ad Insertion Platform Market

  • North America holds a prominent share of the global video ad insertion platform market due to the presence of numerous tech-giants in this region, especially in the U.S. and Canada. This is also estimated to fuel the demand for video ad insertion platform in the near future. Furthermore, rising smartphone penetration is also fueling the demand for the video ad insertion platform in North America. Consequently, companies are increasingly adopting digital video advertising practices in order to capitalize on the growing number of digital viewers and capture a higher percentage of screen time.
  • The video ad insertion platform market in Asia Pacific is expected to expand at a notable CAGR during the forecast period. Rise in adoption of advanced advertising solutions along with regulatory compliance is a prominent factor that drives the demand for the video ad insertion platform in the region. Furthermore, expanding economies in Asia Pacific, such as India and China, are prompting global players to expand their markets in developing economies, which in turn is boosting the market in the region.

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