The majority of the global browser market has now phased out third-party cookies in response to protecting user privacy and personalizing a connection with the modern consumer. With Google Chrome, which controls the majority of the global browser market, following suit next year, 65.15% of the browser market will be opened up to new advertising channels and solutions.
This emerged from a survey by Alfi, an AI enterprise SaaS advertising platform, which conducted 100 interviews with seasoned advertising professionals in the US, UK, Canada, China, France, Germany and the United Arab Emirates.
The survey, which aimed “to find out more about the disappearance of third-party cookies and their focus on new advertising channels”, found that 85% expect budgets for digital out-of-home (DOOH) advertising to increase and online advertising. In addition, nearly four in five (79%) anticipate an increase in television advertising budgets following the abandonment of third-party cookies.
“With web browsers increasingly blocking cookies, ad spend is transferred to the DOOH industry faster than expected,” said Peter Bordes, interim CEO of Alfi. “Our research suggests strong growth for the DOOH advertising industry, as advertising executives expect increased budgets for all other major areas of advertising, making the DOOH market the primary beneficiary.”
Additionally, 78% of advertising executives surveyed believe DOOH advertising will account for over 50% of total outdoor advertising spend by 2023, with online and DOOH advertising budgets representing the most anticipated increases following the decline. third-party cookies. .
“Consumers and regulators are rightly concerned about the growing threat to privacy and the collection of personal data as all aspects of society are digitized,” Bordes said.
“It’s interesting that the DOOH industry has rolled out much better software for targeted advertising without ever collecting cookies or personal information from its viewers and is already leading this revolution. It’s now up to advertisers to become leaders in protecting consumer privacy while providing brands with the precise data they need to thrive.
According to Alfi, advertisers increasingly demand improved performance and capabilities from the advertising technology they use.