Mobile Advertising Market To Hit US$ 269.14 Bn by 2024 Owing To Exponential Rise In Mobile users Globally
Mobile advertising is a form of advertising using mobile devices. It is a subgroup of mobile marketing. Mobile advertising provides information/content developed/designed by advertisers intended for customers/mobile device users. The different types of advertising includes display advertising, In-app, In-game, rich media, search, sms/mms/P2P messaging and others. Mobile advertising provides a solution to advertisers to reach targeted users through various devices to deliver information about innovative tools and technology. Mobile advertising solutions enables advertisers to target users, such as advertising campaign solutions, in order to a reach defined set of goals which includes raising brand awareness, establishing brand and increase rate of conversions and so on.
Key factors driving the growth of the mobile advertising market include rising concerns about security, and privacy, deletion, and misuse/manipulation of data are some of the major fears that persist among online users.
In Global Mobile Advertising Market by Devices, smartphone segment holds the largest share due to high penetration rate of smartphone devices across the world. The smartphone segment is also expected to be fastest growing segment in the forecast period due to increasing adoption rate of smartphones in the emerging economies such as India and Brazil.
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In 2014, the search advertising type was the largest segment in the global mobile advertising market. The search advertising type is majorly preferred by the sectors such as BFSI, telecommunication and IT, and FMCG. Search advertising offers an opportunity to place online advertisements on the webpage that shows results from search queries; however this type is majorly adopted by advertisers. In-App advertising is anticipated to be the fastest growing segment in the forecast period due to increasing number of mobile applications for various industries such as banking, logistics and retail.
Advertisement Campaign solutions holds the largest share as political parties are using these solutions for attracting the attention of population in their region during different stages of elections which include local body to national level elections. The reporting & analytics solution is expected to be the fastest growing segment in the forecast period due to rising adoption of data analytics solutions in understanding the mindset of customers.
In the mobile advertising market by region, North America is the major contributor for the revenue generated in the global mobile advertising market. The APAC region is anticipated to be the fastest-growing segment during the forecast period due to high growth in mobile innovation and high usage of Internet through by consumers in the region. The North America mobile advertising market revenue is mainly contributed by the government and BFSI sectors.
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The growth of the mobile advertising market is mainly contributed by major players such as Amobee, Inc. (Singtel Limited), Apple, Inc. (iAd), Chartboost, Euclid Analytics, Facebook, Inc., Flurry (Yahoo, Inc.), Google, Inc. (Admob Ads), Inmobi, Microsoft Corporation, Millenial Media, Mopub Inc., and Tune Inc. (HasOffers).