ALBANY, New York, April 1, 2019 /PRNewswire/ -- According to a new report by Transparency Market Research, in 2014, the mobile advertising market was worth US$ 13.05 bn. The mobile advertising market is expected to reach US$ 269.14 bn, thanks to a remarkable 31.3% anticipated CAGR during 2016-2024. The smartphone segment in the market as expected is delivering remarkable growth due to rising adoption and its growing affinity with users. The smartphone segment is expected to hold 51.64% share of the total revenue. Additionally, search advertising is expected to dominate the total revenues as it is a reliable go-to option for most end-industries.
The mobile advertising market depicts a competitive and consolidated landscape. Main players in the mobile advertising market including Facebook, Google, and Apple dominate a relatively large share due to their hold on mobile users. A few other main players in the mobile advertising market are Applovin Corporation, Avazu Inc., Chartboost Inc.
Main players in the mobile advertising market are focused on reaching new users through innovative marketing techniques with a growing emphasis on data analytics. The mobile advertising market is in its nascent stages still and continues to adopt an interactive approach to promotions. Earlier, major players in the market were focused on acquiring key user data by studying user-interaction through machine learning. However, new trends are emerging which support data acquisition through an open communication. For example, Google collects advertising surveys through YouTube and has advised app makers on Android store to do the same. In the near future, an absolutely clear line separating paid users from unpaid ones is likely to be drawn.
Target Advertising to Boost the Mobile Advertising Market
Target advertising is becoming a key for advertisers to reach users with relevant and engaging promotions. The promotions are proving to be more successful as advertisers have access to in-depth information in the nick of time. Additionally, target advertising gives important access to advertisers about demographics, custom-intent, and affinity, among many others. Hence, the target advertising has become a backbone for growth of the mobile advertising market as it supports all marketing channels including in-app, rich media, sms, and other prominent ones.
The trend is expected to continue in the near future as android and apple mobile operating system become accessible to more people worldwide. Additionally, the growing emergence of social media is also driving data collection, transparency in advertising; making way for efficient target advertising. Growing penetration of search engines, in-app purchases, and e-commerce are expected to result in major growth for the mobile advertising market.
Privacy Concerns and Growing Scrutiny Can Restrain Growth
Recent legislations like GDPR or the general data protection regulation is emerging as a notable trend in the mobile advertising market. On one hand, social media, advertising has reached a mass audience in a personal way, it has never touched before. On the other hand, the personal touch in advertising is likely to irk regulators and policy makers around the world. In addition, the complex data polices enacted by some key companies in the market are resulting in greater concern among users. However, growing regulations are expected to create transparent and fair environment in the mobile advertising market. This is likely to boost user confidence and result in free-flow of information as well confidence resulting in more online purchases.
This information is from the new report by TMR, titled, "Mobile Advertising Market (Devices Type - Digital Camera, Smartphone, Feature Phone, Tablets; Solution Type - Advertising and Campaign Solution, Content Delivery, Integrated, Mobile Proximity, Report and Analytics; Advertising Type - Display advertising, In-app Advertising, In-Game Advertising, Rich Media, Search Advertising, SMS/MMS/P2P Messaging) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024."
The global mobile advertising market has been segmented as follows:
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