Mobile Advertising Market Definition
Industry Perspective:
The global mobile advertising market size was worth USD 218.28 billion in 2022 and is estimated to grow to USD 873.35 billion by 2030, with a compound annual growth rate (CAGR) of approximately 18.93% over the forecast period. The report analyzes the mobile advertising market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the mobile advertising market.
Mobile Advertising Market: Overview
A variety of factors are driving this rise, including the increasing adoption of smartphones and tablets, the increasing amount of time individuals spend on mobile devices, and the creation of new and inventive mobile advertising formats. Mobile advertising has several advantages over other forms of advertising, such as television and print. It’s more focused, engaging, and measurable. Mobile ads can also be given to consumers at the optimal time and location, when they are most likely to be interested in the advertised product or service. The mobile advertising business is extremely competitive, with big competitors such as Google, Facebook, and Amazon. These businesses provide a wide range of mobile advertising options, such as search ads, display ads, video ads, and social media ads. Aside from the large players, a rising number of smaller companies are creating inventive new mobile advertising formats. These businesses are assisting in making mobile advertising more interesting and effective for advertisers and consumers alike.
nForming Mobile Advertising Market Smart Book
The nForming Mobile Advertising Market Smart Books offer a comprehensive compilation of data pertaining to historical revenue, user volume, patient data, prices, and other relevant information for each segment. This includes, products & services, type of indication, age group and detailed analysis of service providers with coverage at both regional and country levels. The data spans the past three years and provides projections up until 2030. The smart book also provides extensive information on the leading suppliers and their corresponding market shares in the Mobile Advertising Market. The Mobile Advertising Market comprises a range of qualitative factors, including significant growth drivers, opportunities, and challenges.
Mobile Advertising Market Recent Developments
The Mobile Advertising industry is seeing a variety of developments. Among the major developments areas are;
Recent Developments
- In December 2022, Together, Daily Yoga and AppLovin formed a collaboration. The partnership’s goal was to promote Daily Yoga through AppLovin’s Appdiscovery in order to maximise valuable funnel event memberships in spite of iOS difficulties.
- In July 2022, Mintegral, a mobile advertising startup, launched its new Playable Announcement Editor, which enables marketers to create their own announcements from scraping using a law-free editor.
Read more opportunities of Mobile Advertising market in the Smart Book.
Mobile Advertising Market Drivers
Increasing use of smartphones to promote mobile advertising market growth
The market for mobile advertising is expanding significantly due to the increasing use of smartphones. For example, according to a recent App Annie report, the average smartphone user spends an astounding 4.1 hours each day on their device. Many people now access the internet primarily through their smartphones. This implies that companies can use mobile advertising to reach a sizable and interested audience. In addition, cell phones have a variety of special capabilities that can be used to design efficient mobile advertisements. For instance, cell phones can provide customized advertisements to users based on their location thanks to their location awareness capabilities. Cameras on smartphones may be used to make interactive and interesting video commercials. The industry for mobile advertising is expanding mostly due to the rising smartphone adoption rate. Businesses should spend money on mobile advertising if they want to connect with a broad and interested audience.
Mobile Advertising Market: Restraints
Privacy issues with customers’ confidential information hinders market growth.
A significant barrier to the expansion of the mobile advertising industry is the privacy issues with customers’ confidential information. Users’ sensitive information is being exposed by the rising cybersecurity threats without their knowledge. For instance, Juspay, the business that handles payments for Swiggy and Amazon, disclosed a data breach involving more than 100 million credit and debit cardholders in January 2021. The user’s name, email, contact information, and credit and debit cards were all exposed. Such privacy worries about private information restrict consumer preferences while impeding the global market share for mobile advertising over the forecast period.
Read all major drivers and trends of Mobile Advertising market in the Smart Book.
Mobile Advertising Market Regional Landscape
North America dominated the Mobile Advertising Market in 2022
The market’s expansion is attributable due to the presence of important industry firms in the area. Additionally, the region’s spending on TV advertising is probably going to be surpassed by the rising costs of digital marketing. This is due to the area’s sizable population of technologically adept individuals. In addition, it is projected that the fierce competition among the big players in the gaming sector would enhance the prominence of reward commercials. The fact that these advertisements reward viewers with a variety of game-related perks helps to increase the customer’s engagement with the game.
Read more competitive developments in the Mobile Advertising Market Smart Book.
Mobile Advertising Market Key Companies
Meta Platforms (Facebook, Instagram, WhatsApp)
Alphabet (Google, YouTube)
InMobi, Mobvista
Chartboost
AppLovin
Twitter
Smaato
Epom
Mintegral.
Mobile Advertising Market Segmentation:
The global Mobile Advertising market has been segmented into service, end-user, and mode of transit.
Based on format, search ads, display ads, digital video ads, native social ads, and others ads are segments of the global mobile advertising market. The search ads segment dominated the market in 2022. Search advertising is designed to correspond to important search terms (also known as keywords) entered into search engines. This targeting capability is responsible for search advertising’s growing appeal among advertisers. Before making a buying choice, consumers commonly use a search engine to identify and assess purchasing options.
Based on category, the market is classified into retail and e-commerce, media and entertainment, healthcare, BFSI (banking, financial services, and insurance), education, travel and tourism, automotive, and other (e.g., gaming, food and beverage, fashion. In 2022, the retail and e-commerce category dominated the global market. Mobile advertising may be particularly effective for retail and e-commerce enterprises because it allows them to target their adverts to people who are most likely to be interested in their products or services. Furthermore, mobile ads can be used to drive traffic to mobile websites and applications, which can lead to improved sales and conversions.
Segmentation:
Mobile Advertising Market, By Format |
|
Mobile Advertising Market, by Category |
|
Mobile Advertising Market, by Mobile Devices |
|
Mobile Advertising Market, By Geography |
|
Frequently Asked Questions (FAQs):
- Which key factors will influence mobile advertising market growth over 2023-2030?
The main reasons anticipated to propel the mobile advertising market during the forecast period are worldwide increases in smartphone and internet use, urbanisation, population, and demand for social networking, music, and e-book apps.
- What will be the value of the mobile advertising market during 2022-2030?
According to the report, the global mobile advertising market size was worth USD 218.28 billion in 2022 and is estimated to grow to USD 873.35 billion by 2030, with a compound annual growth rate (CAGR) of approximately 18.93% over the forecast period.
- Which region will contribute notably towards the mobile advertising market value?
North America is anticipated to continue leading the mobile advertising market throughout the projected period.
- Which are the major players leveraging the mobile advertising market growth?
Some of the main competitors dominating the global mobile advertising market include – Meta Platforms (Facebook, Instagram, WhatsApp), Alphabet (Google, YouTube), InMobi, Mobvista, Chartboost, AppLovin, Twitter, Smaato, Epom, and Mintegral.
