Market Research Future has added a new report to its extensive repertoire of published report on the subject of the global mobile advertising market. MRFR has found that the global mobile advertising market is expected to grow at an impressive CAGR of 14% during the forecast period from 2017 to 2023. Advertising is everywhere, and with new platforms this form of marketing has expanded across various media. Mobile advertising in particular uses mobile devices to perform advertising activities.
The penetration of smartphones and other portable personal devices has increased the market’s value substantially and is expected to continue its appreciation to reach over USD 169 Bn by the end of 2023. Mobile advertising is highly attractive to advertisers as it means that the consumer is liable to view an ad at any given time. For instance, a consumer may only watch television or radio certain times a day but is more likely to use their smartphone for myriad activities where advertisements may be published. Moreover, technological advances have made way for advertising which integrates augmented reality into a campaign. The growing use of guerilla marketing techniques being integrated with smartphones and other personal devices is a significant driver of the mobile advertising market.
Increasing mobile phone users across a wide range of ages has made mobile advertising across most demographics highly successful. Emerging economies are also witnessing a significant penetration of smart phones. Moreover, smartphones are available with high performance capabilities which has made it possible for many mobile apps to advertise, direct the consumer to the e commerce site and securely make sales via secured payment gateways, thus driving considerable growth of the global mobile advertising market.