In 2023, experts anticipate that the global market for CTV will continue its growth.
Increasing adoption of streaming services and a growing number of connected devices will drive the global market for CTV to an estimated 14.4% by 2023, according to some industry estimates.
Projected to be a major driver of the market’s growth are CTV advertising’s more accurate measurement and targeting capabilities.
To summarize, CTVs will have a significant impact on the global market in 2023 and beyond.
How will CTV Advance in 2023?
Some trends and advancements that could continue evolving in the future are those that we have observed in the recent past.
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: The development and availability of more streaming platforms will increase competition and give users more options to choose from.
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How is CTV better than other advertising Platforms?
In a number of ways, CTV is considered a better advertising platform than other platforms.
Targeted advertising: CTVs allow for more targeted and measurable advertising campaigns than other platforms.
Increased reach: More CTV households mean larger streaming audiences for companies to reach through online content, surpassing traditional platforms.
Improved measurement and targeting capabilities: Companies will be able to use data and analytics to better understand their target audience.
Interactivity: CTV growth = bigger streaming audience = better online reach than traditional platforms for companies.
Cost-effective: Projected to reach $10 billion by 2023 is CTV advertising.
Viewability: CTV ads ensure a higher viewability rate as they are less likely to be blocked by ad blockers.
Brand safety: Safer for brands due to controlled and curated content compared to other platforms.
CTV is not the only platform; the best platform for a company depends on goals, target audience, and budget.