According to the latest report by IMARC Group, titled “Mobile Advertising Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the market size reached US$ 52.4 Billion in 2018. Mobile advertising is a type of advertising which promotes products or services through the use of mobile devices and wireless connections. It is a subset of mobile marketing and is embedded in mobile websites, downloaded apps, as well as games. They are generally compact in size as they are optimized for smaller displays. This marketing strategy collects personal data such as browser history, along with location services, which are further utilized to personalize advertisements based on the preference, habits and location of the user. Apart from this, these mobile advertisements can also display tailored ads when the user is close to certain stores. This form of digital advertising usually consists of short message service (SMS) texts, text taglines, web banners, and audio/video ads, interactive mobile videos, linear ad breaks and sponsored mobile applications.
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Global Mobile Advertising Market Trends:
Significant advancements in mobile technology, coupled with increased usage of mobile and cellular phones in the daily lives of consumers, is one of the key factors driving the market growth. This has consequently led to a decrease in the average selling price (ASP) of smartphones, which is creating growth opportunities for mobile advertising. Apart from this, the increasing penetration rate of high-quality internet connection on a global level is also providing a thrust to the market growth. The rising popularity of social media and online shopping portals amongst the millennials has led vendors to penetrate the market and expand their consumer base effectively. Furthermore, governments of several countries are taking initiatives to promote digitalization in their respective countries, which is expected to create a positive impact on the market growth. Other factors driving the market include inflating disposable incomes, rising number of mobile applications for various purposes such as shopping and gaming, and affordable data plans. On account of the aforementioned factors, the market is expected to reach a value of US$ 221.1 Billion, expanding at a CAGR of 27% during 2019-2024.
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- On the basis of the platform, the market has been divided into search, display, video, social media, websites and others. Amongst these, search represents the most preferred segment, exhibiting a clear dominance in the market.
- Based on the device, smartphones hold the majority of the market share, due to their high penetration worldwide.
- On the basis of the industry, the market is segmented into retail, automotive, financial services, telecom, and travel, among which, retail represents the largest segment.
- On the geographical front, North America holds the leading position in the market, accounting for the majority of the overall market share. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America.
- The competitive landscape of the market has also been studied in the report with the detailed profiles of the key players operating in the market. Some of these include Google LLC, Millennial Media LLC (One by AOL), Facebook, Inc., Microsoft Corporation, Twitter, Inc., and Yahoo! Inc.
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