TMCnet News

Global Mobile Ad Spending Market to Grow 14.6% by 2020 - Key Vendors are AdMob, Chartboost & Millennial Media - Research and Markets

[August 31, 2016]

Global Mobile Ad Spending Market to Grow 14.6% by 2020 - Key Vendors are AdMob, Chartboost & Millennial Media - Research and Markets

Research and Markets has announced the addition of the "Global Mobile Ad Spending Market 2016-2020" report to their offering.

The report forecasts the global mobile ad spending market to grow at a CAGR of 14.6% during the period 2016-2020.

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 (News - Alert), 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 (News - Alert) in 2015. The report predicts that approximately two-thirds of social media advertising spending (worth $9.1 billion) will be on mobile advertising in 018.

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.

Further, the report states that one of the challenges for the market will be rapid growth in consumer behavior.

Key vendors: