Report ID:
SQMIG45H2071 |
Region:
Global |
Published Date: November, 2024
Pages:
188
|Tables:
0
|Figures:
0
Global Mobile Advertising Market size was valued at USD 144.19 Billion in 2022 and is poised to grow from USD 175.62 Billion in 2023 to USD 850.65 Billion by 2031, growing at a CAGR of 21.8% during the forecast period (2024-2031).
Augmented reality (AR) and virtual reality (VR) are often considered to be the two most important technology options for commercial businesses around the world. These sessions provide new ways of advertising techniques and improve professionals’ practical knowledge, enabling them to think creatively. Therefore, they are projected to become an important market trend in the future. AR provides opportunities for brands and advertising agencies to engage with potential audiences. By providing interactive and immersive experiences, these brands can strengthen the relationship between their products and their users. Mobile marketing is one of the key digital marketing strategies organizations adopt to promote their products and services. It also helps organizations eliminate paper costs and denotes a fast and convenient means to interact with target customers. It enables the integration of new, innovative advertisement methods with the same marketing strategies to increase their impact and approachability in terms of target users. Several surveys conducted by many companies denote that more than 90% of the youth use smartphones to access information or content. Approximately 49% of smartphone owners use mobile internet to access search engines. Such factors are anticipated to create growth opportunities for the key players operating in the market for mobile advertising.
According to a May 2020 survey by AR Insider, 19% of U.S. adult users already own VR. This number has increased from 16% in the 2019 survey. Additionally, 31% respondents say they use virtual reality at least once a month, indicating frequent use. This feature means that the coming years could lead to an unprecedented adoption of virtual reality. VR plays a significant role in bridging the gap between experience and action while offering digital experience to promote products and services.
Global Market Size
Largest Segment
Fastest Growth
Growth Rate
CAGR
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Global mobile advertising market is segmented based on vertical, enterprise size, end use and region. Based on vertical, the market is divided into retail & e-commerce, media & entertainment, healthcare, BFSI, education, travel & tourism, automotive, and others. Based on format type, the market is divided into search, display, digital video, and others (lead generation, audio, and others). Based on enterprise size, the market is divided into large enterprises, small & medium enterprises. Based on Region the market is segmented as, North America, Asia-Pacific, Europe, Latin America, Middle East and Africa.
Analysis by End Use
As per mobile advertising market analysis, retail segment is dominating in 2023. The retail segment is anticipated to record the highest CAGR due to increasing customer spending and the rising B2C market. Also, for retailers and e-retailers, mobile advertising provides the benefit of stimulating instant transactions. They can fulfil customer desires immediately. Such benefits add to the market’s growth in the retail and e-commerce sectors. New channels have been provided to acquire and promote their products. Additionally, advances in mobile payment technology have facilitated online shopping, making it easier for consumers to shop with their mobile devices. Additionally, the growing trend of m-commerce, have propelled the retail segment to the forefront of the mobile advertising market.
The media and entertainment segment are estimated to grow at a significant CAGR during the forecast period. The demand for optimized mobile advertising solutions is growing due to the increasing use of mobile devices for digital consumption. The media & entertainment segment accounts for the largest market revenue share in 2023. For instance, in December 2022, Daily Yoga entered a partnership with AppLovin. The partnership aimed to advertise Daily Yoga through AppLovin’s Appdiscovery to optimize the valuable funnel event subscriptions despite iOS challenges. Similarly, many content providers use mobile engagement platforms such as MoEngage for advertising.
Analysis by Enterprise Size
As per the mobile advertising market outlook, large enterprises accounted for the largest revenues in 2023. Large brands will be able to invest capital and budget in advanced mobile marketing technologies and strategies. They often have extensive customer data, which allows them to target specific demographics and customize their marketing campaigns. Additionally, their established brand name and wider reach makes them more attractive to mobile advertising platforms, creating more advertising opportunities. Moreover, the increasing importance of mobile marketing in driving business growth and customer engagement has led large enterprises to invest heavily in the market.
Small & medium enterprises are expected to register the fastest CAGR during the forecast period. The increasing availability of mobile marketing tools and techniques has simplified the entry and competitiveness of SMEs. Furthermore, with mobile marketing becoming increasingly important in reaching and engaging customers, it has become imperative for SMEs to remain competitive. Furthermore, SMEs tend to have more flexibility and agility than larger enterprises, enabling them to adapt more quickly to changing market trends and consumer behavior. These factors, as well as the growing emphasis on digital transformation among SMEs, are driving the rapid growth of the segment.
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North America plays a dominant role in the mobile advertising industry, exhibiting unique strengths that contribute to its growth. North America, especially the United States, is a key region in the mobile advertising market due to advanced digital infrastructure, smartphone penetration and rapid adoption of mobile advertising technology. The region is home to technology companies like Google, Meta (Facebook), and Amazon, which drive innovation in digital marketing and advertising solutions. North American advertisers benefit from robust data and analytics capabilities, allowing for more precise targeting and high ROI on campaigns. Additionally, the region’s growing e-commerce environment and consumer spending capacity further reinforces the demand for mobile advertising, driving market revenue and technological advancements.
Asia Pacific on the other hand, is the fastest growing region, driven by high population density, smartphone penetration and internet penetration. Countries such as China, India and Southeast Asian are leading this growth, driven by millions of new internet users coming online each year. The popularity of mobile apps, social media platforms, and mobile payment systems in these markets creates more opportunities for advertisers to engage with tech-savvy and mobile-first audiences. Moreover, the region’s growing e-commerce industry, digital strategy. Moreover, the region's burgeoning e-commerce sector and growing investments in digital infrastructure make it a hotspot for mobile advertising innovation.
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Drivers
Rapid Growth in Smartphone Usage and Internet Usage
Data Analytics and Personalization Development
Restraints
Privacy Concerns and Legal Challenges
Fragmentation of Mobile Platforms
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The mobile advertising industry is highly competitive, driven by the presence of global technology giants, emerging startups, and specialized advertising platforms. Key competitors such as Google, Meta (Facebook), Amazon, Twitter dominate the market significantly with advertising ecosystem complex systems using data analytics, artificial intelligence and programmatic advertising. These companies are constantly innovating, maintaining their market leadership by offering features such as augmented will integrate surface reality (AR) advertising, advanced targeting tools and cross-platform integration.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the mobile advertising market is growing exponentially due to the rise of smartphones and the expansion of the internet worldwide. With billions of users relying on mobile devices for social media, e-commerce, and entertainment, mobile platforms have become a key channel for advertisers to reach and engage audiences. Advances in artificial intelligence have changed the market, enabling personalized campaigns larger and more targeted that improves user engagement and conversion rates. Furthermore, programmatic ad technology simplifies ad placement, making mobile advertising more effective and responsive can be changed for services. However, the market faces notable challenges, including growing privacy concerns and regulatory restrictions such as the GDPR and CCPA, which limit data collection and processing. Among these challenges is complicated by the widespread use of ad-blocking technologies among privacy advocates. Platform fragmentation also poses a barrier, as advertisers must navigate diverse operating systems and device specifications, leading to increased costs and complexities.
Report Metric | Details |
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Market size value in 2022 | USD 144.19 Billion |
Market size value in 2031 | USD 850.65 Billion |
Growth Rate | 21.8% |
Base year | 2023 |
Forecast period | (2024-2031) |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Mobile Advertising Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Mobile Advertising Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mobile Advertising Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Mobile Advertising Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG45H2071
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