Technavio Announces the Publication of its Research Report Global Mobile Ad Spending Market 2016-2020
Technavio recognizes the following companies as the key players in the global mobile Ad spending market: AdMob, Chartboost, Flurry, InMobi, Millennial Media, and MoPub.
Other Prominent Vendors in the market are: AppNexus, Byyd, Convertro, Criteo, Fiksu, iAd, Kiip, Matomy Media, Mobile Network, MobPartner, Tapjoy, PubMatic, RevMob Mobile Ad Network, and RockYou.
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Commenting on the report, an analyst from Technavios team said: Dominance of mobile devices will be a key trend for market growth. Technavio predicts that half of the mobile users worldwide will use smartphones by 2019. Prominent social networking sites such as Facebook, Twitter, LinkedIn, and Pinterest are accessible through mobile devices through which an estimated 36% of the time is spent on digital media. Moreover, smartphone apps designed exclusively for these platforms further increase the average time spent. Mobile advertising accounted for 68% of revenue for Facebook and 84% of revenue for Twitter in 2015. We predict that approximately two-thirds of social media advertising spending (worth $9.1 billion) will be on mobile advertising in 2018.
According to the report, rapid growth in social media will be a key driver for market growth. The average time spent on smartphones and tablets is approximately three hours in developed countries. An estimated 85% of this time devoted to mobile devices is on social media apps, and this number is rising in many developing countries. Pages of individuals or organizations can be advertised on a larger scale on social media, which increases the popularity of the brand. Social media users share posts and updates hosted on brand pages on their network, which further increases brand acquaintance. Regular updates on social media help to acquire new customers and increases familiarity among existing customers.
Further, the report states that one of the challenges for the market will be rapid growth in consumer behavior. Usage of mobile devices has increased since 2012, which is further expected to rise continually during the forecast period. An increase in Internet penetration and rising smartphone and tablet shipments worldwide has shifted consumers focus from traditional platforms to digital platforms. The consumer behavior regarding media consumption is evolving rapidly. The average time spent on smartphones and other mobile devices is constantly on the rise. An estimated 90% of the smartphone users are known to browse the Internet on smartphones while they are involved in activities such as watching TV. Publishers and advertisers are advised to be updated on the changing media consumption pattern to stay competitive in the market.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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About Mobile Advertising
Mobile advertising refers to hosting advertisements on mobile devices primarily including smartphones and tablets. The growing adoption of these devices along with rising penetration of the Internet is aiding the demand for mobile ads globally. Search ads, display ads, and SMS advertising are the prominent mobile marketing strategies that are used by most businesses. The retail industry, financial service providers, and pharmaceutical businesses are the leading adopters of mobile marketing.
Technavios analysts forecast the global mobile Ad spending market to grow at a CAGR of 14.6% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of global mobile Ad spending market for 2016-2020. To calculate the market size, the report considers the expenditure on mobile advertisement.
The market is divided into the following segments based on geography:
Technavio’s report, Global Mobile Ad Spending Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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