Expansion of mobile industry has changed the way humans interact within the surroundings. The market for mobile advertising is growing at a rapid pace and according to an earlier estimation, the market may account for more than 20% of digital ad spends and 7% of entire ad spending. The forecast for mobile adverting is estimated to rise by leaps and bounds which means a higher surge in mobile advertising budgets to handle. The market has registered a strong rise in search spend by device and mobile spending have also increased to a higher extent. The advertising market is booming with users determining how best to communicate via mobile internet.
According to the latest report on Mobile Advertising Market, published at Upmarketresearch, rise in internet use, surge in number of smartphone users, advertising agencies with effective marketing campaigns and surveys are likely to contribute to the market developments in the near future. Young population with a zeal for social media and rise in advertising startups with innovative marketing ideas coupled with strengthening of social media platforms is likely to boost the market growth in the near future. However, significant costs in mobile advertising and fake message service is likely to curb the market growth in the near future.
Advertising campaign solutions dominate the solution segment followed by content delivery solutions in the mobile advertising market. The market segmentation based on format includes native social, SMS, display and video. SMS segment accounts for a greater market share owing to availability of SMS service and subscriptions.
Asia-Pacific mobile advertising market dominates the developmental scenario owing to rise in smartphone users and mobile application developments. Subsequently, the rise in use of social media in youngsters and expansion of internet services and average time spent on mobile is likely to propel the APAC market growth in the near future.
North America market propels the market developments in the near future owing to rise in advertisement agencies and marketing campaigns for advertisers to personalize mobile advertising.
The key players in the mobile advertising market include Applovin Corp, Chartboost Inc, Google Inc, Flurry Inc, Facebook Inc, Matomy Media Group Ltd, Smaato Inc and Millenial Media.