DUBLIN, October 28, 2021 /PRNewswire/ — The “Mobile Advertising Market – Forecast 2021 to 2026” report has been added to from ResearchAndMarkets.com offer.
The mobile advertising market is valued at US$180.610 billion for the year 2019 and is expected to grow at a CAGR of 21.95% to reach a market size of US$724.460 billion by 2026.
Businesses and service providers are increasing their spending on advertising their products and services through popular media platforms in response to increased consumer spending on media and entertainment. Mobile devices have become the fastest growing advertising platform in recent years, driven by significant growth in the number of mobile devices as well as the number of hours consumers spend on their smartphones and tablets.
The growing number of mobile subscribers, the availability of cheaper smartphones and tablets, reasonable data plans and the rapid development of 4G/5G subscriptions have all contributed to the increased use of mobile devices for entertainment and information. . Advertisers may be able to market their products and services through mobile advertising for this reason.
Increase smartphone penetration to drive market growth
Smartphones are being adopted at a rapid pace worldwide in today’s technological environment. As a result, it alters people’s socializing and communication habits. Smartphone users can use the Internet to access a variety of services and information through a variety of applications. They can also do things like play games, visit the web, watch movies, read e-books, use social media platforms, and listen to music. Apps like this can be found in both Play Store and App Store for Android and iOS users. Additionally, these apps allow users to buy furniture, clothes, and even groceries.
Advertisers can access many layers of information about a user’s favorite brands, hobbies, and shopping preferences through the aforementioned reasons. They also use the huge amount of data to display advertisements for products and services connected to a specific smartphone user in the form of images, videos and banners. In games, they offer in-app advertising promising the player extra play time, incentives and other benefits.
The market will grow due to the increased demand for apps that allow users to access social media, music, and e-books.
Smartphone use is transforming the way people interact and socialize. Applications allow smartphone users to access information and Internet services. People use numerous apps which can be accessed on all app store to perform various functions such as reading e-books, listening to music, watching movies, accessing social media, playing games, shopping etc. People can also buy food, clothes and even furniture using smartphone apps, thanks to technological developments. Smartphone users spend the majority of their time on apps that allow them to access the web.
The brand wants to be present where its customers are. When users use these apps, advertisers gain access to many layers of information about them, including shopping preferences, hobbies, favorite brands, and more. Advertisers use this information to show consumers similar items or services in the form of advertisements, videos, and images, among other things. In-app advertising in games is booming and marketers are investing a lot of money in it. For watching thirty seconds of video ads, in-app mobile marketers give credits such as prizes, longer play time, and other benefits. This is one of the trends in the mobile advertising industry that is expected to drive sales.
Market innovations need to be driven by location-based technology
Advances in location-based technology have opened up a host of new opportunities in a variety of different industries. Location-based technology is used by the mobile advertising industry to provide improved customer service by providing information about nearby items and services. Advertisers collect location data from consumers to provide helpful recommendations based on surrounding areas. This allows them to market their content to customers with the right message at the right time and place. Advertisers can use location intelligence to track the impact of their ads and the responses they receive from users. Customers can be attracted to local businesses by using location-based advertising to promote their product discounts whenever they are in the area. Overall, consumers will be targeted through various techniques and will receive more relevant and personalized information through location-based ads. Google LLC is one of the first companies to offer location-based mobile ads. Users can get personalized suggestions using the opt-in functionality of Google’s location-based advertising platform.
Growing Fascination for Video Ads to Propel Market Growth
The advent of video ad formats such as vertical videos, 360 degree videos, and videos that enable augmented reality and virtual reality is expected to propel the mobile video advertising (ads) industry to new heights. Customers will have an engaging and immersive experience through the use of the formats listed above. For example, service companies such as travel and tourism, fashion stores, and entertainment providers can offer high-quality video advertising by showcasing views of virtual vacation spots, product samples, or videotapes. 360 degree movie ads or vertical videos. It will also help in developing a huge customer base and generating additional leads. Advertisers are offering such advanced video ad formats due to increased consumer focus on content viewability, which results in better user experience and higher conversions than fixed forms. As a result, mobile video advertising is now the most popular and one of the hottest trends. Additionally, films can be used to tell the story of a business, which creates an emotional connection between the business and the customer. This will also contribute to the development of a relationship between the brand and its viewers, as well as the development of a loyal customer base for the company.
Due to the great interest in advertising by business groups in North America, it captures the largest share of the market. Due to the presence of a large population of mobile phone customers, the availability of strong organizational capabilities and the high brand awareness of the multi-purpose storefront in these countries, countries such as United States and Canada dominate the market. The location has fostered accessibility for 4G and 3G data administrations, which helps the mobile advertising industry to grow, thanks to its established framework and propensity for technical advancements.
Another important regional segment of the market is the Asia Pacific, which is growing at the fastest rate. Building portable promotional workouts requires the presence of a massive consumer population and more disposable income due to increasing urbanization. Additionally, cell phones have become extremely popular due to the wide availability of different brands in all price ranges, as well as the availability of cheap internet connections. Due to the great freedoms to offer customers new promotional experiences, the area responds to the high growth potential of the market.
Main topics covered:
2. Research methodology
3. Executive Summary
4. Market dynamics
4.1. Market factors
4.2. Market constraints
4.3. Porter’s Five Forces Analysis
4.4. Industry Value Chain Analysis
5. Global Mobile Advertising Market Analysis, By Type
5.2. Advertisment display
5.3. In-App Advertising
5.4. Search Network Advertising
5.5. In-game advertising
6. Global Mobile Advertising Market Analysis, By Solution
6.2. Mobile advertising platform
6.3. Mobile ad network
6.4. Mobile ad server
7. Global Mobile Advertising Market Analysis, By Vertical
7.3. Media and Entertainment
7.6. Health care
8. Global Mobile Advertising Market Analysis, By Geography
9. Competitive environment and analysis
9.1. Key Players and Strategic Analysis
9.2. Emerging players and market profitability
9.3. Mergers, acquisitions, agreements and collaborations
9.4. Supplier Competitiveness Matrix
10. Company Profiles
10.6. AdColony Inc.
10.8. Google LLC
10.9. GumGum Inc.
10.10. Digital Turbine Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/pph9ws
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