The process of digital transformation is set to maintain last year’s pace, focussing particularly on human-centric technologies.
Along with offering a customer-employee connect, brands are also set to adopt technologies to enhance the customer experience. For instance, automatic content recognition technology enables the CTV space to use AI to deliver relevant shoppable offers for viewers.
Similarly, brands will rely on AI to personalise content recommendations. Extended reality technologies like AR and VR are set to provide marketers with new fields to create interactive ads and offer enhanced CX. From $12 billion in 2020, the AR/VR market is expected to reach over $70 billion within the next five years.
US CTV ad spend is projected to triple by 2025 and touch $27.5 billion. This means that the video format, in particular, and the CTV space at large will be advertising favourites next year.
[6 minute read]