Here are 6 companies that could be buyers of digital ad firms this year, including Walmart and The Trade Desk

• Companies that claim to help advertisers take advantage of the shift of TV ad dollars online and new privacy laws could be attractive acquisition targets this year.
• Business Insider asked bankers, analysts, and consultants which companies are likely buyers of such adtech companies this year.
• Their choices show how big companies like Walmart and LiveRamp could be betting on acquisitions to build businesses that compete with Google and Amazon and circumvent new limits on collecting consumer data.
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Even as the coronavirus rocks financial markets, 2020 could be a busy for adtech dealmaking.

Business Insider recently reported on companies that are attractive acquisition targets this year, including GumGum and iSpot.TV. Driving the potential deals are changes to the TV ad business, the death of third-party cookies, and laws like California's Consumer Privacy Act that are changing how marketers collect consumer data.

Separately, we asked bankers, consultants, and analysts to identify companies that are most likely to be buyers of adtech companies this year. To be clear, these people did not suggest that any of the companies they named are currently in amny deal talks.

Industry-watchers said the main buyers of adtech would fall into two groups: Big companies looking to compete with tech giants like Google and Amazon; and companies trying to move into new areas like over-the-top advertising.

But unlike pricey deals of the past like AT&T, Oracle, and Adobe, today's M&A environment is more cost-conscious.

"The adtech world is littered with folks who aren't profitable and have never been profitable," said Jay McDonald, CEO of investment firm Digital Capital Advisors. "Buyers have gotten smarter as time marches on - they want real businesses that have scaled revenue and are profitable."

Here are six companies to watch this year, in alphabetical order.