US marketers will spend $29.24 billion on programmatic video ads this year.

A recent study by eMarketer, determined how important video ads have become to the industry. This year, marketers will spend $29 billion dollars on programmatic video ads. Meaning that video will account for almost half of all US digital display ad spend, about 49.2%.

Lauren Fisher, an analyst from eMarketer, said that this information is a sign of how eager the industry is to capitalize on video advertising in any form.

In 2018, analysts thought that programmatic video would represent 48.7% of ad spend by 2020. Due to the excellent growth in video ads, they have revised their forecasts.

Keeping that in mind, video ad spend has been consistent. Although the ad growth is not over yet. Analysts expect ad spend for video to remain steady throughout 2021.

After all, slow but steady wins the race!

Video Ad Spend Graph from Emarketer

In addition, eMarketer, included social media into their programmatic video category. Platforms such as Facebook, Twitter, and Snapchat are an important piece to video ads.

Today, social media video ads account for a third of programmatic video ad spend.

Much of social ad spend has shifted towards mobile devices. Which is not a surprise, as consumers are more mobile heavy, especially for social media.

Although, mobile has slightly a higher ad spend from other devices. Mobile’s share of programmatic video ad spend is expected to peak next year. By 2020, mobile devices are to make up over half of the programmatic video ad spend, coming in at 53.9%.

However, analysts expect that mobile’s video ad spend will dip again in 2021. Due to ad buyers ramping up their investments in other areas, such as connected TV.

For example, YouTube, Roku, and Hulu are growing their ad business. As these platforms continue to make ad buying more automated. With the automation it is easier for marketers to target and measure their campaigns. Added benefits and technology to video advertising. In return, analysts expect to see an increase in spend in connected TV.