The need for fast information spreads through a reliable and broadly available medium of messages is expected to influence the market in the approaching years. Reports that deliver insights into the information and communication technology industry has been presented by Market Research Future, which generates reports on industry verticals that judge the market progress and options for growth. The market is projected to garner revenues worth USD 169 Billion by 2023 while progressing at 14% CAGR.
Mobile advertising facilitates reaching to target audience conveniently in less time and is a cheap medium as compared to others. The mobile advertising market derives much of its growth from the deep penetration of mobile phones and other devices across the globe. Mobile advertising is highly successful as various mobile phones applications make it easier to reach the audience directly. Mobile is progressively being used as a reach medium by advertisers as it offers the advantages of high reach, high engagement and high efficiency. With the rise in number of consumers using mobiles, the mobile advertising market is ripe for expansion. The availability of a wide range of mobile phones and tablets across various price spectrum and rapid decline in data tariffs. A high number of content developers are curating content for smaller screens and platforms which is further boosting the growth of the market.
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The global mobile advertising market has been segmented based on advertising type, organization size and vertical.
By advertising type, the mobile advertising market has been segmented into short message service (SMS), video advertising, multimedia messaging service (mms), peer-to-peer messaging (P2P), display advertising, in-game advertising, mobile digital coupons, in-app advertising, and others. SMS acts an ideal medium for companies to connect with their customers. Important messages relating to offers, deals, and discounts can be conveyed via SMS. Moreover, customers can also participate in surveys, fill questionnaires through SMS. The SMS segment is anticipated to showcase massive growth in the coming years.
By organization size, the mobile advertising market has been segmented into large enterprises and small & medium enterprises.
By vertical, the mobile advertising market has been segmented into Retail and Consumer Goods,
BFSI, It & Telecommunication, Media and Entertainment, Travel, Transportation and Automobile, Supply Chain and Logistics, Healthcare, Energy & Power and Utilities, Education and Government, and others.
Detailed Regional Analysis
The regional investigation of the mobile advertising market covers regions such as North America, Asia Pacific, Europe, and other regions around the world. The Asia Pacific region is estimated to develop at the uppermost CAGR in the mobile advertising market. The North American region is the foremost player in the mobile marketing market due to extensive investments being dedicated to mobile advertising. The mobile advertising market growth in the North American region is primarily owing to the contribution by established countries in constructing network connectivity, rising number of mobile consumers, growing use of 3G and 4G network, and growing mobile marketing approval amongst enterprises.
The rivalry in the market is foreseen to rise up in the nearby future as the user base develops with increased production of quality products. Though, the impetus of auspicious policies laid down by administration bodies and trade institutions is projected to create an inspiring advance rate. The perfection of production assets is anticipated to additionally reflect clearly on the general growth picture of the market. Also, improved obtainability of resources from investment titans and venture capitalists is projected to endorse a promising development outlook in the market in the imminent period. The enhancement of substitute resources is likely to augment the whole product supply in the approaching years. The progress impetus of the market is projected to observe a productive jump in the forthcoming years. The enhanced accessibility to improved resources and upgraded ease of access to said resources is anticipated to produce a potential for expansion in the coming years.
The renowned contenders in the mobile advertising market are Avazu Inc. (China), Chartboost Inc. (Netherland), Facebook Inc. (U.S.), Applovin Corporation (U.S.), Google Inc. (U.S.), Inmobi Pte. Ltd. (Singapore), Millennial Media Inc. (U.S.), Matomy Media Group Ltd. (Israel), Flurry Inc. (U.K.), Smaato Inc. (U.S.), among others.
Sep 2019 App Annie, a mobile market data and analytics provider, will obtain Libring, a mobile advertising analytics company in a move the firm says it will aid mobile publishers and products to examine advertising analytics and market data side-by-side.
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