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StockNews.com
Business
Spandan Khandelwal

FORGOTTEN HISTORY: 3 adtech stocks wall street loves - Caught on Camera

MGNI PUBM TTD Magnite Internet Covid-19 Trade Desk Inc

The advertising technology (or adtech) industry gained traction due to the surging demand for online advertising amid the COVID-19 pandemic-led remote lifestyles. Businesses began placing more emphasis on digitizing their marketing strategies and operations due to the increasing number of internet users worldwide. According to IAB, digital video advertising expenditure surged 49% in 2021 and is expected to increase 26% to $49.2 billion in 2022.

The adtech market is expected to grow substantially, driven by significant innovation in retail media, CTV/OTT, gaming, and digital audio. Also, the continuing rise of AR/VR, metaverse, and Web3 technologies is expected to spark innovation, which could drive the industry’s revenues further. The global digital advertising market Is expected to reach $1.2 trillion by 2027, growing at a 14.3% CAGR.

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