Market Insights Advertising & Media Advertising TV & Video Advertising

Digital Video Advertising - Hungary

Hungary

Ad spending in the Digital Video Advertising market in Hungary is forecasted to reach €161.90m by 2024.
The expected annual growth rate (CAGR 2024-2029) of 4.97% is anticipated to lead to a market volume of €206.30m by 2029.
With a projected market volume of €77,350.00m in 2024, the United States is expected to generate the most revenue.
Within the Digital Video Advertising market, 60.63% of total ad spending is predicted to come from mobile in 2029.
The projected average ad spending per internet user in the Digital Video Advertising market is €18.39 in 2024.
Connected TV ad spending in the Digital Video Advertising market is estimated to reach €15.35m in 2024.
Connected TV is forecasted to have an annual growth rate (CAGR 2024-2029) of 4.36%, resulting in a market volume of €19.00m by 2029.
Ad spending on short-form videos in the Digital Video Advertising market is projected to reach €50.09m in 2024, with an expected annual growth rate (CAGR 2024-2029) of 9.82%, leading to a projected market volume of €80.02m by 2029.
Hungary's growing digital video advertising market is attracting global brands seeking to capitalize on the country's tech-savvy audience.

Key regions: United Kingdom, Australia, Japan, Germany, India

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Analyst Opinion

The Digital Video Advertising market in Hungary has experienced significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Hungarian consumers have shown a growing preference for digital video advertising due to its convenience and accessibility. With the increasing penetration of smartphones and high-speed internet connections, consumers are spending more time online and are increasingly consuming video content on digital platforms. This shift in consumer behavior has created a lucrative market for digital video advertising in Hungary.

Trends in the market: One of the key trends in the Hungarian digital video advertising market is the rise of programmatic advertising. Programmatic advertising allows advertisers to target specific audiences based on their demographics, interests, and online behavior. This targeted approach has proven to be highly effective in reaching the right audience at the right time, leading to higher engagement and conversion rates. As a result, advertisers in Hungary are increasingly adopting programmatic advertising strategies to maximize the impact of their digital video campaigns. Another trend in the market is the growing popularity of native advertising. Native ads seamlessly blend into the user experience, making them less intrusive and more engaging for consumers. This form of advertising has gained traction in Hungary as it provides a non-disruptive way to deliver brand messages to consumers, resulting in higher brand recall and customer engagement.

Local special circumstances: Hungary has a strong digital infrastructure, with high internet penetration and a well-developed mobile network. This has created a favorable environment for digital video advertising to thrive. Additionally, the Hungarian population is known for its high level of digital literacy, making it easier for advertisers to reach and engage with their target audience through digital video platforms.

Underlying macroeconomic factors: The Hungarian economy has been experiencing steady growth in recent years, which has contributed to the expansion of the digital video advertising market. As disposable incomes rise, consumers have more purchasing power, leading to increased spending on products and services. Advertisers are capitalizing on this economic growth by investing in digital video advertising to promote their offerings and capture a larger share of the market. In conclusion, the Digital Video Advertising market in Hungary is witnessing strong growth due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. As digital video consumption continues to rise and advertisers recognize the effectiveness of targeted advertising strategies, the market is expected to further expand in the coming years.

Methodology

Data coverage:

Data encompasses enterprises (B2B). Figures are based on digital video advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers video ad formats (web-based, app-based, social media, and connected devices).

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use market data from industry reports and survey results from our primary research (e.g., Consumer Insights) to analyze the markets. Then we benchmark key countries or regions (United States, China, Europe, Asia, and Africa) results with country-specific advertising organizations or associations. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, internet users, and digital consumer spending.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.