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Mobile Advertising Global Market Expected to Reach $489.84 Billion with a CAGR of 15.2% by 2028 | Apple Inc., Alphabet Inc., Meta Platforms Inc., IBM Corporation, Ubisoft Inc.
Mobile Advertising Global Market
According to The Business Research Company's, the mobile advertising market size has grown rapidly in recent years. It will grow from $240.42 billion in 2023 to $277.73 billion in 2024 at a compound annual growth rate (CAGR) of 15.5%. The growth in the historic period can be attributed to proliferation of smartphones, mobile app ecosystem growth, data analytics and targeting, social media influence, shift in consumer behavior.
The mobile advertising market size is expected to see rapid growth in the next few years. It will grow to $489.84 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%. The growth in the forecast period can be attributed to augmented reality (ar) and virtual reality (vr) integration, artificial intelligence and machine learning, rise of in-app advertising, privacy regulations and ad transparency, cross-platform integration. Major trends in the forecast period include emergence of 5g technology, advancements in mobile technologies, rise of in-app advertising, video dominance, programmatic advertising growth.
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Market Drivers and Trends:
The higher penetration of social media and e-commerce is expected to propel the growth of the mobile advertising market going forward. Social media refers to online platforms and websites that allow for social interaction and content sharing between users. E-commerce stands for electronic commerce, which involves the buying and selling of goods and services over the Internet. Social media and e-commerce leverage mobile advertising to capitalize on the widespread use of smartphones, enabling targeted and engaging promotional strategies that seamlessly integrate with users' online interactions, fostering brand visibility and customer engagement, and driving sales in the dynamic digital landscape. For instance, in November 2023, according to the United States Census Bureau, a US-based government agency, e-commerce sales in the third quarter of 2023 accounted for 15.6% of total sales. Furthermore, in February 2023, according to Meltwater, a Netherlands-based software company, in the UK, there were 35 million LinkedIn members and 28.75 million Instagram users. Additionally, between 2022 and 2023, LinkedIn's potential ad reach in the UK climbed by 2.9%. Therefore, the higher penetration of social media and e-commerce is driving the growth of the mobile advertising market.
Major companies operating in the mobile advertising market are adopting new technologies, such as AI-powered marketing automation tools and features, to help brands achieve more specific goals for their ads. AI-powered marketing automation tools and features are designed to automate and optimize various marketing tasks and processes, leveraging artificial intelligence and machine learning algorithms to improve efficiency and effectiveness. For instance, in June 2023, Alphabet Inc., a US-based technology company, launched two new AI-powered features for advertisers. The first feature, called Demand Gen, is a mobile advertising tool that uses AI to place an advertiser's photo and video ads across several products, such as Gmail, the YouTube feed, and Shorts. The second feature uses AI to find the best ad placements and maximize views of a brand's video ads. These features will remove the need for advertisers to think about where they should place their ads and will focus on finding placements.
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Major Key Players of the Market:
Amazon.com Inc., Apple Inc., Alphabet Inc., Meta Platforms Inc., IBM Corporation, Cognizant Technology Solutions Corporation, Adobe Systems Inc., X Corp., Applovin Corporation, Ubisoft Inc., Pandora Media Inc., MobVista International Technologies Ltd., Amobee Inc. , Millennial Media Inc., Mintegral International Ltd., Avazu Inc., Inmobi Pte. Ltd., Affle India Ltd., Verve Group, Epom Ltd., Creative Clicks, Flurry Inc., Leanplum, Smaato Inc., Chartboost Inc., TUNE Inc. , PageFair Ltd.
Mobile Advertising Market 2024 Key Insights:
• The mobile advertising market is expected to grow to $489.84 billion in 2028 at a compound annual growth rate (CAGR) of 15.2%.
• Synergistic Impact Of Social Media And E-commerce On Mobile Advertising Growth
• Adoption Of AI-Powered Marketing Automation Tools By Major Mobile Advertising Companies
• North America was the largest region in the mobile advertising market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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