The global mobile advertising market size was valued at USD 76.9 billion in 2020 and it is expected to reach USD 1234.5 billion by 2030 with the CAGR of 32% during 2020-2030. This information is published by “Decision foresight“, in its report, titled, “Global Mobile Advertising Market, 2020-2030.”As a result of the growth in mobile usage, mobile app advertising expenditure has skyrocketed. According to the latest data from the Interactive Advertising Bureau(IAB) US, mobile ad expenditure increased by 38% in 2019 over the previous year, reaching a staggering USD 100 billion. Video advertisements, mobile website display, and in-app adverts are all examples of mobile advertising. For the best return on investment, the nature of mobile (as a personal device) necessitates a tailored strategy with carefully targeted advertising campaigns. To complement this trend, a number of mobile advertising firms have developed.
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COVID-19 Impact: Affirmative Commercial Business Sales Observed amid Pandemic
Out-of-home and movie advertising declined very quickly when lockdown measures were implemented across the world, as did print advertising. Meanwhile, in-home media consumption has increased. TV viewing has increased, but digital consumption has surged much more: usage of social networks and streaming services has increased virtually everywhere, and gaming has exploded. Advertisers have responded by following customers, which means that digital advertising is now a top priority. The internet environment is conducive to "direct response" marketing, which encourage customers to make rapid purchases, making it an appealing prospect for companies on a tight budget wanting to increase sales.
Market Dynamics and Factors:
Rapid increase in the number of mobile devices is the key driver boosting the growth of mobile advertising market globally. As per the research study, currently there are 3.5 billion smartphone users worldwide and is expected to reach up to 7.33 billion by 2023. Moreover, advertisers are targeting the rising number of people using social media platforms for developing eye-catching in-app ads. In addition, the emergence of 5G technology will bring much quicker internet speeds and connections, which will make mobile traffic continue to grow in the coming years. Significant privacy concerns among the users could hinder the growth of the market.
Report Coverage :
The market report provides exhaustive analysis of the regional insights and how these factors form the market in the respective regions. The impact of COVID-19 pandemic is added for further understanding of the possible threats in the market. The efficient strategies of the top players and how they drive the market growth are discussed in the following report.
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North America is the dominating region in the global mobile advertising market. It accounted the revenue share of USD 16.8 billion in 2019. Presence of the key market players such as Facebook, Inc., and Google LLC is boosting the growth of mobile advertising market in the region. Asia Pacific is expected to become the fastest-growing regions in the world owing to the increasing number of internet users and expansion of the smartphone market. Europe is also expected to grow steadily owing to the high adoption of smartphones in the region during the forecast period.
Some of the major players of global mobile advertising market are Facebook, Inc., Google LLC, Matomy Media Group Ltd., AppLovin Corporation, Epom Ltd., Millennial Media, Inc., Chartboost Inc., Flurry Inc. and Smaato Inc.
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