How Can You Reach Top Spending Industries in AdTech in 2024?

The landscape of digital advertising is undergoing a significant transformation as more industries than ever before are venturing into the programmatic advertising space, attracted by the considerable advantages offered by the open internet.

This shift is driven by the opportunity to reach a broader scope of audiences across diverse websites and devices, including mobile platforms and Connected TV (CTV).

What industries are the top spending industries in AdTech in 2024? 

In 2024, the AdTech landscape is set to experience significant growth across various industries, with some sectors showing particularly strong investment in digital advertising. Here are the leading industries in 2024: 

US Digital ad Spending Growth Change by Industry in 2024: 

• Telecom – 20.9%
• Financial services – 18.2%
• Consumer Packaged goods (CPG) 16.6%
• Automotive – 14.7% 
• Healthcare & pharma 12.5%
• Retail 10.6%
• Travel – 8.9%
• Technology & electronics 6.7%
• Media & entertainment 2.7% 
• Other 19.5% 
• Total – 12.6% 

Despite the impact of inflation on consumers, it doesn’t necessarily lead to reduced purchasing. Instead, people become more discerning in their choices, carefully evaluating offers to ensure they get the best value for their money in this challenging economic climate.

Reach your audience in any industry

Why are these industries increasing AdTech spending?

As we take a look into the specifics of AdTech spending across various industries in 2024, it’s crucial to understand the unique drivers behind each sector’s increased investment. 

Here are the reasons behind each industry: 

Telecom 

The telecom industry leads in AdTech spending due to:

• Intense competition in 5G rollouts
• Need to promote new services and plans
• Targeting cord-cutters with bundled internet and streaming services

Financial Services 

Financial institutions are investing heavily in AdTech because of:

• The rise of fintech competitors
• Promotion of digital banking services
• Targeting millennials and Gen Z with personalized financial products

Consumer Packaged Goods

CPG companies are increasing their AdTech spend due to:

• Shift towards direct-to-consumer models
• Need for personalized marketing in a crowded market
• Leveraging data for better targeting and ROI

Automotive 

The automotive industry’s AdTech investment is driven by:

• Promotion of electric and hybrid vehicles
• Changing consumer behaviors in car buying
• Need for targeted marketing in a recovering post-pandemic market

Healthcare & Pharma 

This sector’s increased spending is motivated by:

• Growing awareness and demand for telehealth services
• Need to educate consumers about new treatments and medications
• Compliance with regulations while reaching target audiences

Retail 

Retailers are investing more in AdTech due to:

• Continued growth of e-commerce
• Need for omnichannel marketing strategies
• Personalization to compete with online giants

Travel 

The travel industry’s AdTech spending is increasing because of:

• Recovery from pandemic-related downturns
• Promotion of domestic and “revenge travel” opportunities
• Need for targeted marketing to specific traveler segments

Technology & Electronics 

This sector’s growth in AdTech spending is driven by:

• Rapid innovation and new product launches
• Increased competition in smart home and wearable tech
• Need for educating consumers about complex products

Media & Entertainment

Despite slower growth, this sector continues to invest in AdTech due to:

• Streaming wars and need for subscriber acquisition
• Promotion of new content and platforms
• Targeting niche audiences with specialized content. 

How OnAudience can help various industries connect at scale with their key target audiences? 

OnAudience, a leading global data provider, offers a powerful solution for companies and brands across various industries to connect with their target audiences at scale. With access to over 3,000 precisely prepared segments, OnAudience empowers businesses to connect with their ideal customers, enhancing the effectiveness of their advertising campaigns.

Let’s explore how OnAudience’s segments can benefit each of the top industries:

Telecom

• B2B – Company’s spending power – High-spenders on Telecom products and services 
• B2B – Professional groups and industries – Telecommunication industry – Internet 
• Brands – Telecommunications – telephone brand 
• Interest – Shopping – Telecommunications 

Financial Services

• Brands – Financial Services – American Express
• Brands – Financial services – Bank of China
• Brands – Financial services – Deutsche Bank
• Brands – Financial services – Capital One 

Consumer Packaged Goods 

• Purchase Intent – CPG – Edible – Foods
• Purchase Intent – CPG – Personal care products
• Purchase Intent – CPG – Home appliances 
• Purchase Intent – CPG – Household cleaning supplies

Automotive

• Brands – Automotive – BMW
• Brands – Automotive – Lexus
• Purchase Intent – Automotive – Auto types – Vehicle services
• Interest – Automotive – Auto types – Hybrid 

Healthcare & Pharma 

• B2B – Professional groups & industries – healthcare industry – Dentists 
• B2B – Professional groups & industries – healthcare industry – Health insurance
• B2B – Professional groups & industries – healthcare industry – Medical research & Bio technology 
• B2B – Professional groups & industries – healthcare industry – Medical equipment and devices 

Retail 

• Retail – Professional groups & industries – Consumer electronic and appliances
• Retail – Professional groups & industries – Malls & shopping centers
• Retail – Professional groups & industries – Online retailers
• Retail – Professional groups & industries – Beauty, cosmetics and personal care 

Travel 

• B2B – Professional groups & industries – hospitality industry – travel agents
• B2B – Professional groups & industries – transport and travel industry – car rental
• Brands – Travel – Airbnb
• Brands – Travel – United airlines 

Technology 

• B2B – Professional groups & industries – Data Scientists 
• B2B – Professional groups & industries – Smart devices 
• Interest – Technology & computing – smartphone
• Brands – Electronics – Apple 

Media & Entertainment

• B2B – Professional groups & industries – Entertainment – Media, film, and television programs
• B2B – Professional groups & industries – Media industry
• Purchase Intent – CPG – Media – DVDs
• Purchase Intent – CPG – Books & audio books 

Explore more segments per specific industry

Leverage relevant data for effective digital campaigns in AdTech 

Nowadays date is the fundament to setting up powerful campaigns that bring results. Date delivers information about target audience needs, interactions with specific products and services, and their demography which helps advertisers and brands, and agencies to connect with the right audience at the right time. 

Here are 5 steps on how you can leverage data to enhance your digital campaigns in the competitive AdTech space:

1. Collect and analyze first-party data from your platforms and customer interactions.
2. Enrich with first-party data with data from reputable providers.
3. Launch personalized campaigns based on the additional date attributes received in the date enrichment process.
4. Optimize campaign performance in real-time and  automate ad placements across multiple devices.
5. Aim to resonate with target industries in the competitive AdTech landscape.

Let us know what segments You look for