With 23.2% CAGR, Mobile Advertising Market Size Worth USD 621.63 Billion in 2029
According to Fortune Business Insights, the global mobile advertising market size is projected to reach USD 621.63 billion in 2029, at CAGR of 23.2% during forecast period; Rapid Adoption of Mobile Campaigns to Propel Market Progress
/EIN News/ -- Pune, India, May 05, 2022 (GLOBE NEWSWIRE) -- The global mobile advertising market size was valued at USD 117.97 billion in 2021 and is expected to reach USD 144.08 billion in 2022. The market is expected to reach USD 621.63 billion by 2029, exhibiting a CAGR of 23.2% during the forecast period. Rapid adoption of mobile campaigns and the integration of VR & AR with mobile advertising platform are expected to enhance industry progress. Fortune Business Insights™ provides this information in its report titled “Mobile Advertising Market, 2022-2029.”
Key Industry Development
May 2021: Mobvista completed the acquisition of Reyun, a Chinese third-party-based marketing technology firm, for nearly USD 233 million. This acquisition was undertaken for the completion of martech SaaS product matrix and boost Mobvista’s SaaS tooling ecosystem.
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Report Scope
| Report Coverage | Details |
| Forecast Period | 2022-2029 |
| Forecast Period 2022 to 2029 CAGR | 23.2% |
| 2029 Value Projection | USD 621.63 billion |
| Base Year | 2021 |
| Mobile Advertising Market Size in 2021 | USD 144.08 billion |
| Historical Data for | 2018-2020 |
| No. of Pages | 140 |
| Segments covered | By Format Type; By Vertical; and Rigional |
| Mobile Advertising Market Growth Drivers | Rising Adoption of Location-based Technology Enhances Customer Service Offerings |
| Higher Penetration of Social Media & E-commerce to Boost Market Growth |
Driving Factors
Extensive Adoption of Location-Based Technology to Enhance Customer Service
Mobile advertising comprises promotional videos, photos, or other materials. The extensive adoption of location-based technology is expected to enhance the user's experience. Further, the increasing advertisement investments by brands are expected to enhance mobile advertising adoption. For example, Amazon, Inc. invested nearly USD 22.0 billion in advertising and marketing in 2020. It is a rapid spike of USD 3.0 billion compared to the previous years. In addition, the rising social media and e-commerce penetration may drive the mobile advertising market growth.
However, the rising privacy concerns for customers’ confidential data are expected to hamper industry progress.
COVID-19 Impact
Rising E-commerce Adoption to Enhance Market Progress
This market is expected to be positively impacted during the COVID-19 pandemic due to the rising e-commerce adoption. The spike in COVID-19 cases increased the adoption of online and Internet of Things (IoT) services. The rising adoption of smartphones and rapid 5G network development facilitated the product adoption. Moreover, users' rising adoption of social media is expected to enhance the demand for the software. These factors may enhance the market progress during the pandemic.
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Regional Insights
Presence of Major Companies to Enhance Industry Growth in North America
North America is expected to dominate the mobile advertising market share due to the presence of major players. The market in North America stood at USD 40.66 billion in 2021 and is expected to gain a huge portion of the global market share. Further, the rising digital channel spending in the U.S. is expected to enhance the product demand. In addition, increasing digital channel spending is expected to elevate the industry progress.
In Europe, the expansion of digital advertising is expected to enhance the demand for the product. Further, the rising number of digital advertisements by out-stream video and mobile & social spending is expected to enhance mobile advertising adoption.
In Asia Pacific, the increasing smartphone market across China, India, and South East Asian industries is expected to boost adoption. Further, the rising internet usage in the region is expected to elevate the adoption of digital advertising.
Mobile Advertising Market Segments
Digital Video Ads Segment to Dominate Owing to Extensive Adoption of Search Engines
By format type, the market is segmented into search, display, digital video, and others.
The digital video segment is expected to dominate, owing to the extensive adoption of search engines by consumers. The rising number of Google ads is expected to enhance the product adoption. These factors may incite the market progress.
Retail & E-commerce Industry to Dominate Owing to Rising B2C Market
By vertical, the Mobile Advertising Market is classified into retail & e-commerce, media & entertainment, healthcare, BFSI, education, travel & tourism, automotive, and others.
The retail & e-commerce industry is expected to dominate owing to increasing business-to-consumer (B2C) activities. Furthermore, the increasing consumers spending and the adoption of the product from the manufacturing sector are expected to bolster market progress.
Regionally, it is classified into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
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Report Coverage
The mobile advertising market report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Competitive Landscape
Major Players Enter Partnerships to Enhance their Reach
Prominent companies operating in the market enter partnerships to enhance their market reach globally. For example, AppLovin Corporation partnered with the Trade Desk in April 2022. Agencies and advertisers may be able to integrate ALX in-app RTB exchange as a supply source to The Trade Desk’s platform. This development may allow the company to enhance its reach globally. Further, companies engage in acquisitions, product launches, mergers, and expansions to enhance their market position.
Companies Profiled in the Mobile Advertising Market Share Report:
- Meta Platforms, Inc. (U.S.)
- Alphabet, Inc. (Google) (U.S.)
- Chartboost (U.S.)
- AppLovin Corporation (U.S.)
- Twitter, Inc. (U.S.)
- InMobi (India)
- Smaato, Inc. (U.S.)
- Epom (Ukraine)
- Mobvista (China)
- Mintegral (Beijing)
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Major Points of Table:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Mobile Advertising Key Players Market Share Insights and Analysis, 2021
- Global Mobile Advertising Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Format Type (USD)
- Search
- Display
- Digital Video
- Other (Lead generation, Audio, Others)
- By Vertical (USD)
- Retail & E-Commerce
- Media & Entertainment
- Healthcare
- BFSI
- Education
- Travel & Tourism
- Automotive
- Others (Telecom, Agriculture, Others)
- By Region (USD)
- North America
- Europe
- Middle East & Africa
- Asia Pacific
- South America
- North America Mobile Advertising Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Format Type (USD)
- Search
- Display
- Digital Video
- Other (Lead generation, Audio, Others)
- By Vertical (USD)
- Retail & E-Commerce
- Media & Entertainment
- Healthcare
- BFSI
- Education
- Travel & Tourism
- Automotive
- Others (Telecom, Agriculture, Others)
- By Country (USD)
- United States
- Canada
- Mexico
- Europe Mobile Advertising Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Format Type (USD)
- Search
- Display
- Digital Video
- Other (Lead generation, Audio, Others)
- By Vertical (USD)
- Retail & E-Commerce
- Media & Entertainment
- Healthcare
- BFSI
- Education
- Travel & Tourism
- Automotive
- Others (Telecom, Agriculture, Others)
- By Country (USD)
- United Kingdom
- Germany
- France
- Italy
- Spain
- Russia
- Benelux
- Nordics
- Rest of Europe
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