The latest report by IMARC Group, titled “Mobile Advertising Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global mobile advertising market reached a value of US$ 173 Billion in 2021. Mobile marketing refers to the activity of promoting products and services using mobile devices such as tablets, smartphones, and personal digital assistants with wireless connections. It is a cost-effective medium to advertise goods and services as it takes minimal upkeep to operate and reaches a wider audience across the globe. Mobile advertising includes search, social, programmatic, and video ads that allow advertisers to reach the mass audience or an individual virtually from anywhere and anytime. This mode of advertising uses modern mobile technology features, such as location services, which help in tailoring marketing campaigns based on the location of the individual. It also retrieves customer information and preferences to target the right audience.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Mobile Advertising Market Trends:
The market is primarily driven by the increasing number of mobile devices and mobile internet users. A significant rise in the number of mobile subscribers and the growth in 3G and 4G subscriptions are also escalating the demand for mobile advertising. Besides this, technological advancements have introduced a wide variety of features, such as emailing, social networking, banking, online gaming value-added services, thereby offering enhanced insights into consumer behavior and their buying patterns. Furthermore, key players are developing improved mobile advertising content that can easily support mobile devices used in low internet connectivity areas. They are also creating age-specific mobile advertising content to target the mass mobile internet population. This, along with several initiatives undertaken by the governments of various nations to promote digitalization in their respective countries, is also providing a positive thrust to the market growth. Looking forward, the market is expected to grow at a CAGR of 12.26% during 2022-2027.
- Based on the segment, the market has been segmented into search, display, video, social media, websites, and others. Amongst these, search represents the most preferred segment, exhibiting a clear dominance in the market.
- Region-wise, Asia Pacific holds the leading position in the market. Other major regions are North America, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players.
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