The Global TV Ad Spending Market is estimated to be valued at US$ 130.22 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The TV Ad spending market comprises of television programming with advertising breaks or embedded advertising during content. These include traditional TV and digital streaming services. TV remains one of the most engaging mediums for mass reach and impact.
Market key trends:
One of the key trends driving the growth of the TV Ad spending market is the rise of digital and Connected TV viewing. An increasing number of viewers are shifting from traditional television to streaming services accessed via internet-connected devices such as smart TVs, gaming consoles, and streaming sticks/boxes. This has opened up new opportunities for advertisers to target audiences based on their interests across devices. However, measuring the effectiveness of ads on digital platforms still remains a challenge.
Segment Analysis:
One of the key trends in the TV ad spending market is the growing preference for targeted and data-driven ads. Traditionally, TV ads relied on broad targeting based on demographic factors like age, gender, location etc. However, with the rise of digital technologies, advertisers now have access to vast amounts of consumer data that helps them deliver highly targeted ads. This has increased the effectiveness of TV ads.
SWOT Analysis
Strengths: Access to huge audience base, brand visibility and recall, memorable ads.
Weaknesses: High production and airtime costs, limited targeting capabilities, declining viewership.
Opportunities: Data-driven targeting, interactive ads, partnerships with OTT platforms.
Threats: Rise of digital platforms, cord-cutting, ad-blockers.
Key Takeaways
The Global Tv Ad Spending Market Share is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing preference for targeted ads. The market size for 2023 is US$ 130.22 Bn.
Regional analysis: North America dominates the global TV ad spending market currently. However, Asia Pacific region is expected to witness the fastest growth during the forecast period driven by increasing spending in countries like India and China.
Key players operating in the TV ad spending market are Procter & Gamble, Amazon, Comcast, AT&T, 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), Johnson & Johnson.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
