The global TV ad spending market primarily involves advertising through traditional TV mediums such as cable, satellite and over-the-air broadcast networks. TV advertisements help companies to promote their products and services through visual and audio modes of communication. It plays a vital role in brand awareness and recall value for many consumer packaged goods. Traditional TV offers wide reach to target diverse audience segments across demographics. However, the market is facing challenges from growing popularity of digital media where ads can be personalized and targeted.
The TV Ad spending market size was valued at US$ 212.27 Bn in 2023 and is expected to reach US$ 298.12 Bn by 2030, exhibiting a compound annual growth rate (CAGR) of 5% from 2023 to 2030.
Key Takeaways
Key players operating in the TV ad spending market are Procter and Gamble, Amazon, Comcast, ATandT, General Motors, Verizon Communications, L'Oréal, The Walt Disney Company, Ford Motor Company, Samsung Electronics, Unilever, Toyota Motor Corporation, NBCUniversal (owned by Comcast), Alphabet Inc. (Google), and Johnson and Johnson. The market leaders are focusing on advanced ad technologies and data analytics to optimize ad campaigns.
The key opportunities in the market include increased use of programmatic buying and data-driven ad targeting. Rising gig economy and number of digital streamers is also augmenting demand for TVC across devices. Ad agencies are leveraging viewer data from smart TVs and set-top boxes to hyper-target ads.
Globally, the market is witnessing high growth in developing regions of APAC and MEA due to rising internet penetration, purchase power and youth population. China has emerged as the largest TV ad market followed by US and Japan.
Market Drivers
Technological advancements are one of the key drivers for the TV Ad Spending Market Demand. Developments like addressable TV advertising, advanced TV and digital video are helping advertisers to optimize campaigns. Addressable TV uses household data to deliver household-specific ad inserts allowing precision targeting. Advanced TV leverages automatic content recognition (ACR) for second screen implementation and interactivity.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
