Growing Adoption of Location-Based Services to Boost Mobile Advertising Market Growth
New York, US, Jan. 16, 2023 (GLOBE NEWSWIRE) — According to a comprehensive research report by Market Research Future (MRFR), “Mobile Advertising Market, Research Report By Advertising Type, By Organization Size, By Vertical – Forecast 2030”. Valuation is poised to reach USD 651.1 Billion by 2030, registering a 13.70% CAGR throughout the forecast period (2022–2030).
Market Analysis
Eminent industry players profiled in the global mobile advertising market report include:
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Applovin Corporation (US)
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Avazu Inc. (China)
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Inmobi Pte. Ltd. (Singapore)
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Flurry Inc. (UK)
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Matomy Media Group Ltd. (Israel)
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Chartboost Inc. (Netherlands)
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Facebook Inc. (US)
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Google Inc. (US)
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Millennial Media Inc. (US)
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Smaato Inc. (US)
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Mobile Advertising Market Report Scope:
|
Report Metric |
Details |
|
Revenue forecast in 2030 |
USD 651.1 billion |
|
Growth Rate |
CAGR of 13.7% from 2022 to 2030 |
|
Base Year |
2021 |
|
Forecast Period |
2022-2030 |
|
Historical Date |
2020 |
|
Forecast Units |
Value (USD Billion) |
|
Key Market Opportunities |
The rise of Mobile Advertising is expected to give worthwhile freedoms to market development. |
Drivers
Growing Adoption of Location-Based Services to Boost Market Growth
The growing adoption of location-based services will boost market growth over the forecast period. Mobile device users’ previous and present locations are used by location-based marketing to display pertinent content. The key driver of market expansion is an increase in global advertising spending. To expand their client base and brand awareness, brands and companies are investing more in advertising and marketing campaigns.
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Opportunities
Rising Popularity of Smartphones to offer Robust Opportunities
The increasing use of cellphones is changing how people socialize and communicate. Through a variety of apps, smartphone users can now access online services. Additionally, people today use a variety of apps that are sold in the market to carry out numerous duties like shopping and accessing social media platforms, among others. Additionally, they have access to things like video games, social networking sites, movies, the internet, e-books, and music. For users of Android & iOS, apps similar to this can be found in the Play Store & the App Store. Additionally, users of these apps can purchase groceries, clothing, furniture, and even accessories.
Restraints
Privacy Concerns to act as Market Restraint
The privacy concerns concerning customers confidential data, lack of skilled workforce, & lack of technological expertise in developing and underdeveloped economies may act as market restraints over the forecast period.
Challenges
Lack of Strong Infrastructural Facilities to act as Market Challenge
The lack of strong infrastructural facilities especially in backward economies, growth in ad blocker solution adoption, and rising security & privacy concerns may act as market challenges over the forecast period.
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Market Segmentation
The global mobile advertising market is bifurcated based on vertical, organization size, and advertising type.
By advertising type, the mobile advertising market is segmented into in-app advertising, mobile digital coupons, video advertising, in-game advertising, display advertising, multimedia messaging service, peer to peer messaging, short message service, & others.
Based on organization size, the mobile advertising market is segmented into large enterprises and SMEs.
By vertical, travel will lead the market over the forecast period.
Analysis of COVID-19
The Global Mobile Advertising Industry has been studied and examined, and the report, Mobile Ad Market size 2021, provides measurements and data on market development aspects, elements, main drivers, key challenges and limitations, opportunities, and estimates. There are three main ways that a virus might affect the global economy: by affecting supply and demand, by disrupting the production network and market, and by having an economic impact on businesses and financial industry sectors.
The report, titled Worldwide Mobile Ad Market Report, 2021–2025, examines the global and territorial markets as well as the market’s overall development prospects. Additionally, it provides insight into the incredibly serious scenario of the global mobile advertising market. Thinking about a variety of factors, from socioeconomic conditions and business cycles to explicitly stated microeconomic consequences inside a particular nation, frames a thorough understanding of the market. The analysis revealed a shift in market ideal models in terms of local advantage and, consequently, the serious scene of important participants.
Regional Analysis
North America to Steer Mobile Advertising Market
Due to the intense interest that business organizations in the region have in advertising, North America accounts for the majority of the mobile advertising market. Because of their large populations of cell phone users, availability of strong organizational capabilities, and widespread use of mobile advertising, countries like the US and Canada dominate the market. The region has prompt access for 4G and 3G information services, which support the portable advertising industry, improve, because of its developed framework and a penchant for mechanical advancements. Over the anticipated term, North America will hold a sizable market share.
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In order to continue its dominance in the mobile advertising market during the projection period, brands are concentrating on keeping consumers engaged with games and rewarding them for watching adverts by providing them extra points in different locations. Due to the existence of important industry players, North America is predicted to experience considerable growth during the projection period. Additionally, it is expected that regional spending on TV advertising will be surpassed by rising spending on internet marketing. This can be attributed to the area’s sizable technologically adept population. Furthermore, it is projected that the predominance of incentive commercials would rise as a result of the fierce competition among the big players in the gaming sector. These advertisements are crucial for boosting player engagement in the game because they reward viewers with a variety of game-related incentives.
APAC to Have Favorable Growth in Mobile Advertising Market
Another important region in the market is Asia Pacific, which is growing at the highest CAGR. To create mobile marketing exercises, you need to have a huge client base and more disposable income due to increased urbanization. Additionally, the wide availability of different brands across all price ranges and the accessibility of little web connections have contributed to the extraordinary popularity of mobile phones. Due to the extensive freedom to provide customers with unique promotional experiences, the sector addresses the significant market development potential.
Industry Updates
December 2022- Vertoz Advertising recently received the “Mobile Advertising Excellence in User Acquisition Campaign” award from Mobexx in recognition of their innovative campaign created for their client Broker Network.
Related Reports:
Programmatic Advertising Market By Device – Global Forecast to 2030
Interactive Advertising Market Type, Organization Size and Vertical – Forecast to 2030
Advertising Software Market By Solution, Deployment, Software Type – Forecast 2030
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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