The article is Contributed by Mr. Alok Pandey, Vice President - Sales & Marketing, Xapads Media.
Adtech has seen unprecedented growth in Year 2021 so we have all the reason to be excited about what the future holds for us. Advertising technologies are bridging the gap between Reality and Desire and also adding new and innovative ways to bring Advertiser and User under the same screen.
As the world of Ad-tech is set to get bigger and better in the coming times, let's see how.
Factors Contributing in Growth of AdTech Industry
Year 2021 will go down in history as a significant one that changed the world of Digital Marketing for Good as Apple introduced and finally implemented its App Tracking Transparency (ATT) framework in iOS14.5. Now any App or Medium requires user Consent to track any sensitive data and gives User Privacy the importance it always deserved. With Google, Huawei and others to follow suit, this Year is expected to see more revolutions and steps around User Privacy.
CTV and OTT
Undoubtedly Year 2022 belongs to CTV and OTT as major players started to unleash the power in Year 2021 and with more and more content creators choosing the medium over traditional ones, this will remain a trend setter in coming months too. India will remain the top market as the penetration and growth continue to see an uptick.
Data Sets : The global CTV ad spend is projected to rise 23% in 2022, hitting approx. $20.3 billion whereas, the global OTT revenue will be approx. $205,565 million in 2022 and is projected to reach a staggering $210 billion by the year 2026. Coming to the Indian market, the revenue from the OTT segment will be $2,673 million in 2022 and will reach $3,928 million at a CAGR of 10.10% by 2026.
Augmented Reality (AR)
Another trend that picked the hype in late 2021 is Augmented Reality (AR). AR is reaching audiences in a way no other Ad-tech ever reached. It builds the personal connection with the user to drive brand awareness and showcase the product's pointers as in the real world. Even though this tech is not widely used(yet), the prospect and offerings just can’t be denied for long. I personally say watch it as this will make the biggest difference this year.
Mobile First is another thing that will stay in trend, even though many believe that industry has seen the peak of In-App Marketing but I personally beg to differ. Countries like India and SEA are expected to see highest growth in terms of Mobile penetration and with fast adaptation of 5G and high internet, Mobile + In-App Marketing will continue to be Advertisers top choice. Another factor of this tide will remain highly adaptive MMPs like Appsflyer, Branch, Adjust and Kochava, providing advertisers with valuable user insights and control over Adspent.
Reserving my final spot for Omnichannel Marketing, which has allowed Advertisers to target and re-target the user over various Marketing channels. This gives a major boost to Brand reach and awareness by building a repeat but valued customer base. This has even opened the new arena to connect digital channels, such as live chat, email, phone and in person, to deliver a consistent brand experience.
With something Big making news everyday, 2022 would be an “Year for Adtech” as the market and industry prepare for the welcome of Metaverse and Web3.0 but there are still some trends that are here to make Big. India is also expected to ride on these trends and with high penetration and adaptation of new technology, this year might be crucial in making the history of India’s Adtech market. Against all odds India has shown high growth prospects post covid second wave with new Unicorn every week so a positive impact will propel India’s Ad Tech Industry.