DUBLIN, February 25, 2016 /PRNewswire/ --
The mobile ad spending market in the United States is expected to grow at a CAGR of 29.07% between 2015 and 2019, according to a report published on Research and Markets. Social media has become a major data source for many organizations because of its high reachability and ability to provide instant feedback. Facebook's photo-sharing app, Instagram, introduced advertising to all businesses in September and has attracted more than 200,000 advertisers to-date.
Three quarters of these advertisers are outside of the U.S., operating in more than 200 countries, the company revealed in a blog post on their website. According to their survey results, 60% of Instagram users say they learn about products and services on Instagram and 75% say they take action after being inspired by an Instagram post.
A recent report on the global in-app advertising market forecasts the number of smartphones shipped worldwide to increase exponentially. Therefore, high adoption of smartphones and tablets provides a platform for mobile advertising agencies to reach the target customers through mobile apps, supporting the growth of the global in-app advertising market. It expects growth at a CAGR of 39.97%, with the US named as the leading contributor.
Instagram's user base surpassed 400 million users in 2015. Although Instagram didn't disclose revenue, eMarketer says Instagram's mobile ad revenues comprised 3.7 percent of Facebook's total ad sales. That number is expected to grow to $2.81 billion or 10.6 percent of Facebook's ad sales by 2017.
The overall cross-platform and mobile advertising market size is expected to grow from $25.19 Billion in 2015 to $80.45 Billion in 2020, at an estimated CAGR of 26.1%.
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SOURCE Research and Markets