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How will CTV affect Global Market in 2023?

The global market for CTV is expected to continue to grow in 2023, driven by the increasing popularity of streaming services and the growing number of people who own smart TVs.

According to some industry estimates, the global market for CTV is expected to reach 14.4% by 2023, driven by the rising adoption of streaming services, an increase in internet penetration, and a growing number of connected devices. 

Advertising on CTVs is also projected to be a major driver of the market’s growth, as CTVs provides more accurate measurement and targeting capabilities.

In summary, CTVs are expected to significantly impact the global market in 2023 and beyond.

How will CTV Advance in 2023? 

Some trends and advancements that have been seen in the recent past that could continue to evolve include:  

Integration with other devices: CTVs will likely continue to integrate with other devices such as smartphones and tablets.

Advancements in AI and voice control: CTVs will likely continue to incorporate AI and voice control technology.

More interactive and engaging ad formats: Companies will explore new and more interactive ad formats such as shoppable ads. 

More personalized and interactive experience: The use of data and analytics will allow for more personalized and interactive experiences for viewers. 

5G integration: With the widespread adoption of 5G networks, CTVs will likely be able to access and stream high-quality content at faster speeds. 

More streaming options: More streaming platforms will be developed and will be available, increasing the competition and giving users more options to choose from. 

How is CTV better than other advertising Platforms? 

CTV is considered to be a better advertising platform than other platforms in a number of ways: 

Targeted advertising: CTVs allow for more targeted and measurable advertising campaigns than other platforms.

Increased reach: As the number of households with CTVs continues to grow, companies will be able to reach a larger audience through streaming services and online content than other platforms. 

Improved measurement and targeting capabilities: Companies will be able to use data and analytics to better understand their target audience

Interactivity: CTVs provide more interactive and engaging ad formats such as shoppable ads, which can lead to higher engagement and conversion rates for companies than other platforms. 

Cost-effective: CTV advertising is projected to reach $10 billion by 2023.

Viewability: CTV ads are less likely to be blocked by ad blockers, ensuring a higher viewability rate. 

Brand safety: CTV advertising is considered a safer environment for brands as the content is more controlled and curated than other platforms. 

It’s important to note that CTV is not the only advertising platform available, and the best platform for a company will depend on its specific goals, target audience, and budget. 

Our marketing team at eRGADX is fully aware of how to increase revenue for your company with the help of CTV/Connected TV. Let’s discuss your strategies after you let us know what website or digital marketing activity you wish to track or improve. Contact us Today!