PUNE, India, March 01, 2023 (GLOBE NEWSWIRE) — The global mobile advertising market size was estimated at US$117.97 billion in 2021 and is expected to reach US$144.08 billion in 2022. By 2029, the market is projected to reach $621.63 billion, with a CAGR of 23.2% over the forecast period. The rapid adoption of mobile campaigns and the integration of VR and AR into mobile advertising platforms are expected to improve the progress of the industry. Fortune Business Insights™ provides this information in its report titled Mobile Advertising Market Forecast, 2023-2029.
key industry development
Mobvista completed the acquisition of Reyun, a Chinese third-party marketing technology company, for nearly $233 million. This acquisition was made to complete Martech’s SaaS product matrix and strengthen Mobvista’s SaaS tooling ecosystem.
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Report scope and segmentation
Report Coverage Details Forecast Period 2022 to 2029 Forecast Period 2022 to 2029 CAGR 23.2% Value Forecast for 2029 $40.67B Base Year 2021 Mobile Advertising Market Size in 2021 $117.97B Historical Data for 2018 to 2020 Number of Pages 140 Segments Covered format, vertical , region
The central theses
The mobile advertising market is expected to thrive and reach $621.63 billion in 2029. VR plays an important role in bridging the gap between experience and action while providing digital experiences to promote products and services. Brands offering products on e-commerce websites are offering significant discounts and coupons to attract customers and build brand awareness and loyalty while boosting the market in the near $40.668 billion in 2021
Driver & Restraints-
The use of mobile advertising for promotional videos, photos and other materials is expected to improve user experience through the widespread adoption of location-based technology. Increasing investment in advertising by brands is expected to drive adoption of mobile advertising, as illustrated by Amazon’s investment of approximately $22.0 billion in 2020, an increase of $3.0 billion compared to previous years. Additionally, growth in social media and e-commerce penetration is likely to boost the mobile advertising market. Still, industry growth can be hampered by concerns about customer privacy.
Regional Insights-
The mobile advertising market in North America is expected to dominate the global market share due to the presence of key players, with the regional market valued at US$40.66 billion in 2021. The rising spending on digital channels in the US is expected to drive the demand for the product and boost the progress of the industry.
Meanwhile, in Europe, the expansion of digital advertising is expected to boost demand for mobile advertising. The rising number of digital advertising through out-stream video and mobile and social spending is expected to further increase mobile advertising adoption.
In the Asia-Pacific region, the growing smartphone market in China, India and Southeast Asian industry is expected to boost adoption. In addition, increasing internet usage in the region is expected to drive the adoption of digital advertising.
List of key players mentioned in the report-
Meta Platforms, Inc. (US)Alphabet, Inc. (Google) (US)Chartboost (US)AppLovin Corporation (US)Twitter, Inc. (US)InMobi (India)Smaato, Inc. (US)Epom (Ukraine)Mobvista (China)Mintegral (Beijing)
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main table of contents-
Global Mobile Advertising Market Size Estimates & Forecasts, By Segment, 2018-2029 Key FindingsBy Format Type (USD) SearchDisplayDigital VideoOther (Lead Generation, Audio, Other) By Industry (USD) Retail & E-CommerceMedia & EntertainmentHealthcareBFSIEEducationTravel & TourismAutomotiveOther (Telecom, Agriculture, Other) By Region (USD) North America Europe Middle East & Africa Asia Pacific South America North America Mobile Advertising Market Size Estimates & Forecasts, By Segment, 2018-2029 Key ResultsBy Format Type (USD) SearchDisplayDigital VideoOther (Lead Generation, Audio, Other) By Industry (USD ) Retail & E-CommerceMedia & EntertainmentHealthcareBFSIEEducationTravel & TourismAutomotiveOther (Telecom, Agriculture, Other) By Country (USD) United States Canada Mexico Europe Mobile Advertising Market Size Estimates & Forecasts, By Segment, 2018-2029 Key Findings eBy Format Type (USD) SearchDisplayDigital VideoOther(Lead Generation, Audio, Other) By Industry (USD) Retail & E-CommerceMedia & EntertainmentHealthcareBFSIEEducationTravel & TourismAutomotiveOther (Telecom, Agriculture, Other) By Country (USD) UK Germany France Italy Spain Russia Benelux Scandinavia Rest of Europe
Table of contents continued…!
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FAQs:
How big is the mobile advertising market?
The market is projected to grow from US$144.08 billion in 2022 to US$621.63 billion in 2029, registering a CAGR of 23.2% over the forecast period.
How big is the mobile advertising market in North America?
The market in North America was valued at US$40.668 billion in 2021 and is expected to gain a large chunk of the market share in the coming years.
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