Ad spend is projected to grow 5.9% in 2023

IAB is one of the leading advertising organizations. They recently published their ad spend projection in 2023 across different market sectors. Moreover, IAB predicts CTV will be the fastest-growing channel next year, with projected sales up 14.4%.

The four most high-growth market categories concerning ad spending are as follows:
B2B (up 20.8%)
Travel (20.6%)
Restaurants/beer/wine/liquor (17.1%)
Financial services (11.1%)

Where will those ads be purchased? According to IAB’s research, advertisers and agencies will primarily use retailer-owned (75%) and aggregated (82%) marketplaces to place these ads. On the other hand, e-commerce-owned partners will also be used (in 64% of cases). Slightly over 90% of advertisers will also use the retail media network with their on-site ads.

See the website to see more results of the IAB’s study.

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