Mobile advertising is a technique of promoting products and services on mobile devices such as smartphones, tablets, and featured phones.
PORTLAND, OREGON, UNITED STATES, September 17, 2020 /EINPresswire.com/ — According to a new report by Allied Market Research, titled, "Mobile Advertising Market – Global Opportunity and Forecasts, 2014-2022" the global mobile advertising market was valued at $69,781 million in 2015 and is projected to reach $243,703 million by 2022, growing at a CAGR of 15.8% from 2016 to 2022.
Surge in mobile device penetration; rise in mobile internet users; increased awareness among mobile users about benefits of technology-based advertising such as increased accessibility, the speed of communication and frequency are projected to drive the mobile advertising market growth during the forecast period. However, rise in privacy and security concerns and growth in AD blocker solution adoption is projected to limit the market growth to some extent during the forecast period.
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By category, the arts & entertainment segment dominated the market with around 45% market share, followed by hobbies & interests segment, in 2014. Further, the hobbies & interests segment is projected to expand at the highest CAGR of 16.7% due to rise in time spent on mobile devices by users across the globe.
By format, the search segment dominated the market in 2014 with around 37% market revenue share owing to increase in awareness about health, safety, entertainment, and hobbies & interests among the mobile users. Furthermore, the video segment is projected to expand at the highest CAGR of 17.5%, owing to the increase in the trend of watching on-demand movies, TV shows, and others videos especially among the young population.
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According to Sumeet Pal, Research Analyst, ICT at Allied Market Research, "With growth in penetration of mobile devices, the number of mobile internet users have also increased at a rapid pace worldwide. This growth is attributed to the availability of mobile devices such as smartphones and tablets at an affordable price, declining price of internet plans, and increase in connectivity services. Further, marketers have found new communication venues for targeting audience with more personalized messages. In addition, mobile advertising is more cost-effective as compared to other marketing methods such as physical, exhibitions and face to face promotion,"
Based on the geography, the mobile advertising market is studied across four major regions, namely North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor in 2014, accounting for around 42% share of the overall mobile advertising market. The North America mobile advertising market is projected to grow at the highest CAGR of 17.6% during the forecast period owing to increased penetration of mobile devices in the region.
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The report features a competitive scenario of the mobile advertising industry and provides comprehensive analysis of key growth strategies adopted by major players. Some of the key players operating in the mobile advertising industry include Applovin Corporation, Avazu Inc., Chartboost Inc., Facebook Inc., Flurry Inc., Google Inc., Inmobi Pte. Ltd., Matomy Media Group Ltd., Millennial Media Inc., and Smaato Inc.
Key Findings of the Mobile Advertising Market:
• By format, the search segment dominated the mobile advertising market in 2014, and the video segment is expected to grow at the highest CAGR.
• Among categories, the hobbies & interests segment is projected to create significant growth opportunities for prominent players operating in the global market.
• Asia-Pacific was the highest contributor in the overall mobile advertising market size in 2014, however in terms of growth, the market in North America is projected to expand at the highest CAGR.
• The U.S. was leading in terms of expenditure on mobile advertising in 2014, followed by Japan.
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