The AdTech space faced many hurdles in 2024: mixed messages around third party cookies; the challenge of personalizing ads despite tighter privacy constraints; and declining investment. Yet it also prompted transformation, such as generative AI helping achieve – to some degree – privacy-protecting personalization. As we move into 2025, AdTech is certainly preparing for a comeback year – M&A activity is set to enjoy an upwards trajectory, CTV advertising looks to go from strength to strength, and AI will continue to bring significant efficiency wins across programmatic advertising processes. What’s clear is that there are some big trends on the horizon, many of which will define a new era for AdTech, but what are they? Unsurprisingly, Google has changed tack on its previously outlined cookie depreciation plans, but it doesn’t mean that privacy-first data collection has ceased to be an issue for the advertising industry. The surprise halt to Google’s plans has left many in a state of limbo and, as a result, feelings remain mixed.