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Mobile Advertising Market - Advertisement Campaign solutions Holds the Largest Share
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According to a new market report published by Transparency Market Research entitled “Mobile Advertising Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2024,” the global mobile advertising market in terms of revenue accounted for US$ 13.05 Bn in 2014 and is forecast to expand at a CAGR of 31.3% during the period from 2016 to 2024. Rising adoption of personal devices and companies leveraging on disruptive technology for customer reach are the key factors driving the growth of the mobile advertising market. In addition, the growing trend of social media and the introduction of video ads is further anticipated to drive the growth of this market over the forecast period.
With consumers carrying mobile devices wherever they go, it has become crucial for marketers to target this large consumer base with mobile advertisements and promotions. A mobile advertising platform firm provides services to marketers that allow them to send these advertisements to consumers using mobile devices. Each distinct mobile advertising platform contains opportunities for marketers to deliver their message to a broad range of consumers.
Two of the leading platforms in the world are Android and iPhone. BlackBerry is slowly gaining pace in the market as a mobile advertising platform. Mobile advertising platform and related technology allows advertisers to deploy advanced targeting technologies so that they can reach their audience of different demographics, characteristics, and criteria. This trend, along with increasing smartphone penetration, is further driving the global mobile advertising market. Advertisers and the media industry are increasingly considering the numerous opportunities presented by the fast-growing mobile market.
In the coming few years, the global mobile advertising market will observe advertisers focusing more on performance. They will increase their spending as their ROI gets clearer along with more valuable and quantifiable results. The preference of location-based advertising is growing and will continue to assert its importance in the future. Location-based technology allows advertisers to deploy hyper-targeting, which enhances the effectiveness of mobile advertisements.
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