Get All Access for $5/mo

Emerging Trends in the Video Adtech Industry: 5G, Omnichannel to Drive Growth As adtech industry continues to grow, a South Korea-based lock screen media platform provider, Buzzvil, points out four emerging trends in the industry

By Dipen Pradhan

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.

Digital ad spending is set to rise across the globe. In 2019, worldwide digital ad spending will rise by 17.6 per cent to US$333.25 billion, according to eMarkerter. The same report suggests that digital users will account for roughly half of the global ad market. And, there are many factors contributing to the growth of digital ad industry.

Joshua Oshu Kwon, chief strategy officer of a South Korea-based lock screen media platform provider, Buzzvil, pointed out four emerging trends in the video adtech industry as follows:

5G to Accelerate the Growth of Video Advertisements: It is true that 5G will enable the adtech ecosystem to load faster the things people search for on the internet. Citing reports, Kwon said, "By this year (2019), 0.4 million users will have access to 5G, and by 2024, the number is expected to surge to 1.4 million."

In order to be adept with the changes, Kwon suggests, "It is important for advertisers to get a better understanding on how to manage the video ads' campaign in a smarter way, and publishers must come up with a strategy to own more video inventories."

Omnichannel to enable the Growth of Video Ads: According to Kwon, citing his experience at Buzzvil, when a TV commercial company wants a display ads on its lock screen platform, the same product is being sold on TV. "This is when they make the most sales," Kwon said.

According to Mary Meeker's 2019 Internet Trends report, 88 per cent of people are on a secondary device while watching TV, searching for what they want to see and talking about it. Kwon suggests, "Marketeers have to be present on phones, computers, TV, tablets and other IoTs. They have to integrate all their data to take necessary actions."

Users will Start to Actively Manage how and where their Data is being Used: Citing data regulations such as the GDPR, and similar data privacy regulations being adopted across Europe, Asia, Americas, and other countries, Kwon emphasised that "industries will have to ensure that the customer data is secure and is managed with full transparency."

Kwon said, "More and more users will be sensitive as to how and where their data is being used in the adtech industry, an then start to actively manage it. This trend will mostly be driven by user-borne needs managing their data. Publishers and advertisers can look a closer look at the trend to adapt to the new reality."

Industries should Aim for better Ad Experience: Kwon maintains that doing so will enable industries to remove unwanted ads. He said, "Pure ads with better UX (user experience) will not only perform better, but they will be the only option available for publishers in the future as ad technology develops. Users will welcome this change and continue to fight unwanted ads."

Dipen Pradhan

Senior Correspondent, Entrepreneur Asia Pacific

Dipen is a senior correspondent for Entrepreneur, Asia Pacific edition. He joined Entrepreneur after a stint reporting on India's startup ecosystmem for Inc42 and, prior to that, more than four years covering human interest news on an array of issues for The Statesman. He is a graduate in Humanities & Social Sciences, with major in English and Journalism from Orient College, Tribhuvan University. You may write to him at dpradhan@entrepreneurapj.com
Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Business News

'I'm Not Trying to Land on Mars': Mark Cuban Takes Dig at Elon Musk to Explain Why His Online Pharmacy Isn't Trying to Make More Money

Mark Cuban Cost Plus Drug Co. is an online pharmacy co-founded by Cuban and radiologist Alex Oshmyansky.

Business News

'It's Not About You': How to Fire Someone Effectively, According to Kevin O'Leary

O'Leary says that if you can't fire someone, you aren't the right leader for the organization.

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Meta Makes $1 Million Dollar Donation to Donald Trump's Inaugural Fund

Meta CEO Mark Zuckerberg also reportedly gave Trump a pair of Ray-Ban Meta smart glasses.

Growing a Business

How Connecting With the Right Audience Drives Long-Term Business Success

Here's how targeted lead generation can help you unlock higher conversions, stronger brand loyalty and scalable growth.