DUBLIN, February 9, 2016 /PRNewswire/ --
The global in-app advertising market is set to grow at a CAGR of 39.97% over the period 2015-2019, as noted in a recent report on Research and Markets, with smartphones providing a platform for mobile advertising agencies to target specific customers. Today, Viacom have announced a multi-year agreement with video-messaging app Snapchat that allows the mass media company to sell advertising on Snapchat's behalf.
Viacom is the only television company to have this type of arrangement, which includes Snapchat's un-partnered "Live Stories". This feature groups together posts from specific geographic locations and could be a valuable tool for targeted advertisements. A report on the Cross Platform and Mobile Advertising market found that consumers prefer these types of advertisements because they are more specific, personal and target orientated. It also identified mobile advertising as one of the fastest growing markets due to the evolution of new technologies and predicted that the overall cross-platform and mobile advertising market will grow from $25.19 billion in 2015 to $80.45 billion in 2020.
According to the Global In-App Advertising Market report, the number of smartphones shipped worldwide will increase exponentially between 2015 and 2019. It also identifies the US as the leading contributor, generating a revenue of $3.41 billion in 2014 through mobile app install ads. This share is likely to double during the forecast period because of the increase in time spent on digital media by the US population.
Augmented reality is also creating opportunities in mobile advertising. Manufacturers are integrating smart devices with augmented reality solutions to enhance the user experience, which enhances their value proposition. This, along with the increased popularity and penetration of smart devices, is expected to boost the global AR market for marketing and advertising at a CAGR of 105.72% over the period 2015-2019 .
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SOURCE Research and Markets