Mobile Advertising Market Size, Share and Forecast 2030 | Tencent's Digital Ad Revenues Grew by 32% Year Over Year in The First Quarter in China

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.

The COVID-19 epidemic impacted a variety of industries, including advertising and mobile marketing. End consumers are indoors, and they spend the majority of their time on cellphones, TV, tablets, and laptops, thus companies from all industries have cut their expenditures on traditional marketing. Instead of investing in traditional advertising such as print media, banners, and other forms of advertising, market participants have switched their advertising budgets to digital marketing and mobile marketing.

Report Coverage

The market report delivers a holistic evaluation of the overview and the segments of the market. A comprehensive study of the current trends and future opportunities in the market is presented in the report. It similarly 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.

Segmentation

On the basis of device, the mobile advertising market is segmented into tablets, digital cameras, feature-phones, smartphones and others. Based on solution, the market is segmented into reporting & analytics, campaigns, content delivery, mobile proximity, integrated solutions and others. According to type, the market is segmented into rich media, display advertising, in-game advertising, in-app advertising, search advertising, SMS/MMS/P2P messaging advertising and others.

The small and medium businesses in every industry and area are utilising existing mobile technologies. SMEs have begun to establish an online presence through websites and mobile applications, making mobile advertising one of the most cost-efficient and successful marketing channels available to them. SMS marketing is a low-cost advertising medium that is frequently employed in this market area.

 By vertical, the mobile advertising market is divided into healthcare, academia & government, hospitality & tourism, energy & utilities, BFSI, fast moving consumer goods, telecommunication & IT and others. To reach every client, the travel and tourism sector is heavily utilising mobile advertising platforms. A growing number of travel and tourism firms are using various marketing strategies to promote their tourist locations. These businesses have realised the value of being able to contact clients quickly. The sector is seeing a lot of adoption for advertising tourism destination films. Geographic segmentations of the regions include North America, Europe, Asia-Pacific, and RoW.

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List of Key Players Covered in this Market Report

• Facebook, Inc.
• Alphabet, Inc.
• Microsoft Corporation
• Baidu
• Yahoo
• Twitter, Inc.
• Tencent
• InMobi PTE Ltd.
• Chartboost
• Pandora Media
• Millennial Media
• Amobee, Inc.

Drivers and Restraints

Vast amount of time spent on mobile applications has aided the expansion of in-app advertising to Drive Market Growth

A variety of reasons have contributed to the enormous development. Consumers now have access to a variety of functions, including as gaming, e-mailing, social networking, banking, and other value-added services, thanks to rapid developments in mobile technology. This allows advertisers to acquire a greater understanding of consumer behaviour and purchase habits. Advertisers benefit from unrivalled access to their target demographic as a consequence. Furthermore, a boost in the amount of time spent on mobile applications has aided the expansion of in-app advertising, which is one of the major reasons driving the mobile advertising industry ahead. Advertisers collect consumer location data in order to provide helpful recommendations based on surrounding areas.

This enables them to market their content to clients with the appropriate message at the appropriate time and location. Advertisers may utilise location intelligence to track the impact of their ads and the responses they receive from users. When a consumer is in the area, local companies can display their product discounts using location-based advertising to attract their attention. Overall, consumers will be targeted through various techniques and receive more relevant and tailored information as a result of location-based ads.

Regional Insights

North America has biggest share in this market. As big firms such as Facebook and Google, among others, have provided a potential for mobile advertising, the area is spending more on mobile ads than other regions. The number of tech-savvy people in the country is causing an increase in expenditure on digital platforms rather than television. According to figures released by the US Census Bureau in February, Americans spent $791.7 billion on e-commerce in 2020, up 32.4 percent from 2019. And, while physical store purchasing may perk up if limitations are relaxed, the retail business has irrevocably altered. The growth of e-commerce — and its tailwind effect on digital ad growth — was evident in the results of companies like Snap, which advertisers turned to for augmented reality for virtual "try-ons" as many retailers' dressing rooms remained closed and new regulations around sampling products like makeup were implemented.

During the projection period, Asia Pacific is expected to expand at a significant rate. The development will be aided by an increase in internet users, the expansion of the smartphone market, and the supply of solid telecom infrastructure. China is thought to have the region's largest mobile device market.

Competitive Landscape

Innovative and Advanced Tactics Adopted by Key Players to Sustain their Position

Companies are increasing their offerings to help businesses acquire customers. Companies are partnering to provide a precise and relevant consumer base so that the right client may be targeted. They're also improving the quality of their films, displays, and banners to provide a more immersive and engaging experience. Advertisers are emphasising the need of delivering relevant and high-quality content so customer doesn’t miss it.In 2019 To reinvent short-form mobile video innovation in India, Facebook India has teamed up with industry giants Wunderman Thompson, Ogilvy, Leo Burnett, McCann, and Mullen Lintas to transform narrative for mobile advertising.

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Industry Development

May 2021: Tencent's digital ad revenues grew by 32% year over year in the first quarter in China, where consumers spend over two-thirds of their media time online.

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This release was published on openPR.