Global Mobile Advertising Market: Tencent's digital ad revenues grew by 32% year over year in the first quarter in China: “Decision foresight“
The global mobile advertising market size was valued at USD 76.9 billion in 2020 and it isexpected to reach USD 1234.5 billion by 2030 with the CAGR of 32% during2020-2030. Thisinformation is published by “Decision foresight“, in its report,titled, “Global Mobile Advertising Market, 2020-2030.”Asa result of the growth in mobile usage, mobile app advertising expenditure hasskyrocketed. According to the latest data from the Interactive AdvertisingBureau(IAB) US, mobile ad expenditure increased by 38% in 2019 over the previousyear, reaching a staggering USD 100 billion. Video advertisements, mobilewebsite display, and in-app adverts are all examples of mobile advertising. Forthe best return on investment, the nature of mobile (as a personal device)necessitates a tailored strategy with carefully targeted advertising campaigns.To complement this trend, a number of mobile advertising firms have developed.
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COVID-19Impact: Affirmative Commercial Business Sales Observed amid Pandemic
Out-of-home and movie advertising declinedvery quickly when lockdown measures were implemented across the world, as didprint advertising. Meanwhile, in-home media consumption has increased. TVviewing has increased, but digital consumption has surged much more: usage ofsocial networks and streaming services has increased virtually everywhere, andgaming has exploded. Advertisers have responded by following customers, whichmeans that digital advertising is now a top priority. The internet environmentis conducive to "direct response" marketing, which encouragecustomers to make rapid purchases, making it an appealing prospect forcompanies on a tight budget wanting to increase sales.
Market Dynamics andFactors:
Rapid increase in the number of mobile devices isthe key driver boosting the growth of mobile advertising market globally. Asper the research study, currently there are 3.5 billion smartphone usersworldwide and is expected to reach up to 7.33 billion by 2023. Moreover,advertisers are targeting the rising number of people using social mediaplatforms for developing eye-catching in-app ads. In addition, the emergence of5G technology will bring much quicker internet speeds and connections, whichwill make mobile traffic continue to grow in the coming years. Significantprivacy concerns among the users could hinder the growth of the market.
Report Coverage :
The market report provides exhaustive analysis of theregional insights and how these factors form the market in the respectiveregions. The impact of COVID-19 pandemic is added for further understanding ofthe possible threats in the market. The efficient strategies of the top playersand how they drive the market growth are discussed in the following report.
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Geographic Analysis:
NorthAmerica is the dominating region in the global mobile advertising market. Itaccounted the revenue share of USD 16.8 billion in 2019. Presence of the keymarket players such as Facebook, Inc., and Google LLC is boosting the growth ofmobile advertising market in the region. Asia Pacific is expected to become thefastest-growing regions in the world owing to the increasing number of internetusers and expansion of the smartphone market. Europe is also expected to growsteadily owing to the high adoption of smartphones in the region during theforecast period.
Competitive Scenario:
Some of themajor players of global mobile advertising market are Facebook, Inc., GoogleLLC, Matomy Media Group Ltd., AppLovin Corporation, Epom Ltd., MillennialMedia, Inc., Chartboost Inc., Flurry Inc. and Smaato Inc.
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