The era of mobile has given rise a new media segment and mobile advertising is a crucial part of it. The emergence of a sophisticated mobile ecosystem is paving the way for advertisers and companies to thrive and reach a broader consumer base. Mobile advertising has become an indispensable tool in the advertising industry and the mobile advertising market is on a path of continued growth. Market Research Future (MRFR) has recently published an in-depth report on the global mobile advertising market, covering key market insights that have been derived from thorough analysis of pertinent macro and micro-economic factors affecting the market. MRFR's analysis has projected that the mobile advertising market is anticipated to reach USD 169 Bn at a CAGR of 14% by the end of the forecast period of 2017-2023.
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.
The global mobile advertising market growth 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.
Region-wise, the COVID-19 analysis of the mobile advertising market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
North America is the principal mobile advertising market. The growth of the market can be attributed to the hefty investments poured in advertsising by enterprieses in the region. The masive organizations present in the region have deep pockets and allocate significant share of their revenue in advertising. The presence of a wide base of mobile users in the region provides growth opportunities to the mobile advertising market. The clustering of key market leaders in the region is also a lus point for the market. Other factors which suport the growth of the North America mobile advertising market include avialbility of strong network capabilities, avialbility of high-speed data service, and growing popularity of mobile advertising in the region. The US and Canada are the key markets in the region.
The APAC mobile advertising market is slated to capture the highest CAGR over the forecast period. Incraesing penetration of smartphones in the region along with development of network services in the region is key to the market growth. Declining mobile tarrif artes has further propelled the growth of the mobile advertisisng market. Growing disposable income and urbanization are also supporting the market growth.
Facebook Inc. (U.S.), Avazu Inc. (China), Matomy Media Group Ltd. (Israel), Flurry Inc. (U.K.), Smaato Inc. (U.S.), Google Inc. (U.S.), Inmobi Pte. Ltd. (Singapore), Chartboost Inc. (Netherland), Millennial Media Inc. (U.S.), and Applovin Corporation (U.S.) are the notable players in the global mobile advertising market.
June 2019 - Affle, a global technology company that has a proprietary consumer intelligence eplatform, announced acquisition of US-based mobile advertising company RevX Inc. As a part of the acquisition, evX's assets, brand name, intellectual property rights and technical information will be transferred to Affle.