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The global adTech market to reach $1.9 trillion by 2028, report
Reportlinker.com has announced the release of the report "Global AdTech Market Size, Share & Industry Trends Analysis Report By Advertising Type, By Solution, By Platform, By Enterprise Size, By Vertical, By Regional Outlook and Forecast, 2022 - 2028" -
Advertisers can use these tools to target the appropriate demographics for their ads, make the most of their advertising budgets, and assess the effectiveness of their campaigns. The market is evolving significantly, with various important trends transforming and reshaping the industry.
Connected TV (CTV), geotargeting, hyper-personalization, augmented reality & virtual reality, integrated customer journeys, and vernacularization are prominent trends in the ad tech market. Moreover, programmatic advertising targets and delivers ads using algorithms and data, making ad campaigns more successful and efficient. Because it incorporates sponsored material into the layout and style of a website, native advertising is also growing in popularity.
Native advertising facilitates efficient consumer engagement because it is less invasive than standard banner adverts. In addition, ad tech businesses employ data and AI to enhance targeting and personalization, enabling them to send their clients more pertinent messages and boost conversion rates. Finally, an increasing number of businesses are focused on privacy-compliant and open advertising techniques to ensure that their client’s data is secure and safeguarded.
Since there has been an increase in investment in data, artificial intelligence, automation, and programmatic advertising, the AdTech market is expected to expand quickly. New items and businesses are continuously entering the market, which is always changing and evolving. It is a complicated and dynamic environment that is essential to the digital advertising ecosystem. Companies in the ad tech market are offering solutions that assist marketers in targeting the appropriate audiences, maximizing their ad spending, and assessing the effectiveness of their campaigns.
COVID-19 Impact Analysis
During the pandemic, as more individuals stream TV episodes and movies at home, the demand for OTT (over-the-top) and linked TV commercials has increased as marketers seek to reach consumers on streaming platforms. Hence, marketers are boosting their advertising on these platforms to reach people where they spend most of their time. In addition, due to the increasing use of e-commerce services and the high demand for movies and television programs during the lockdown, several businesses decided to implement AdTech, which aided in market expansion during and after the pandemic.
Market Growth Factors
Increasing use of AI in advertising
AI is rapidly transforming the advertising industry due to its vast array of benefits and ability to increase intelligence over time. The use of data or consumer insights to make advertisements more relevant to their intended audience. With customers expressing that they will do only business with companies that customize their experience, it is increasingly becoming a priority to make marketing more relevant and individualized. As a result, AdTech market expansion is anticipated to be propelled by the increasing use of artificial intelligence in advertising to further improve the consumer experience and campaign efficacy.
Surged adoption of smartphones and advent of high-speed internet
Smartphones have progressed significantly over the years and are now equipped with cutting-edge technologies such as a gyroscope, global positioning system (GPS), near-field connection (NFC), augmented reality, and virtual reality.
The increased disposable income of consumers worldwide has led to an increase in the likelihood that they will spend money on media, entertainment, mobile communication devices, and networking, which has led to a rise in the global adoption of smartphones. As a result, rising disposable income is anticipated to stimulate the expansion of the worldwide smartphone market over the forecast period.
Market Restraining Factors
Dependency on third party cookies
The decision to obstruct one of the most potent online tracking techniques is obvious. Because cookies assist in developing a profile of Internet users based on hundreds of attributes, the Ad Tech and online marketing industries have been under constant attack over the past years. Frequently, the user is unaware and does not provide permission.
Certain browsers already block third-party cookies by default to avoid tracking. In addition, several other major browsers have declared plans to restrict third-party cookies within the next few years. Considering AdTech relies heavily on these third-party cookies, the disabling of these cookies by many browsing sites will considerably hinder the market growth of AdTech.
