The major factor promoting the growth in mobile ad spending market is the rapid growth in social media. Social media continues to be a large platform for advertisers as well as companies to promote and interact with customers online. With the help of social media, the consumers interests, feedback, and rating can be easily examined with the help of social media. Different users share posts as well as updates available on the brand’s homepage, thereby leading to the creation of more interaction and awareness. These tactics will enable organizations to create a market presence for their products with broad customer base. According to various studies, over 50% of the customers buy mobile phones after obtaining brand information from social media in developed countries. Thus, social media has enabled companies to obtain a larger customer base and brand loyalty, and this trend will continue to rise in global mobile ad spending market during the forecast.
The global mobile advertising market can be classified based on solution, industry vertical, type, device and region. On the basis of solution, the global market is classified into reporting and analytics solutions, advertisement campaign solutions, content delivery solutions, mobile proximity solutions, integrated solutions, and others. Depending upon type, it is segmented into rich media, display advertising, in-game advertising, in-app advertising, search advertising, SMS/MMS/P2P messaging advertising, and others. As per industry vertical, the global mobile advertising market is divided into healthcare sector, academia & government sector, hospitality & tourism sector, energy & utilities sector, BFSI sector, fast moving consumer goods, telecommunication & it sector, and others.
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The global mobile advertising market is expected to garner maximum revenue in the forecast period. Factors such as the development of new technologies such as 3G and 4G and rise in the use of smartphones and tablets among consumers are expected to fuel the growth of this market. Also, large number of consumers are increasingly becoming dependent on multiscreen for online shopping; people are spending their media time on smart TVs, smartphones, computer, tablets, and laptops.
Based on regions, the global mobile advertising market is divided into North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America. The North American region is anticipated to command the maximum market share and would lead the mobile advertising market during the forecast period. The primary factor contributing to the growth of this market is modernization that results in the increased demand for digital marketing in this region. As a result, consumers are promptly shifting towards online shopping. For instance, in order to maintain its huge customer base, Walmart has ventured into online shopping market space.
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The major companies that provide mobile advertising include InMobi, Facebook, Google, Apple, Jumptap, Yahoo!, Microsoft, Millennial Media, Mojiva, and Tapad among others.
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