According to Transparency Market Research (TRM), the mobile advertising market was valued at $13.05 billion in in 2014 and is expected to be worth $269.14 billion by the end of 2024, expanding at a compound annual growth rate (CAGR) of 31.3%.
TRM (www.transparencymarketresearch.com) says the mobile advertising market was dominated by the smartphone segment in 2014, which accounted for 51.64% of the overall market. Based on the industrial verticals, the research group says BFSI is accounted for the largest share followed by the hospitality & tourism sector in 2014. Based on the type, search advertising accounted for the higher shares in the mobile advertising market.
Some of the players operating in the global mobile advertising market are Apple (with its iAd platform), Amobee, Chartboost, Euclid Analytics, and Facebook. The mobile advertising market is a cost-sensitive market which requires high initial investment mainly for installation and implementation.
TRN says this factor is creating an entry barrier for new entrants. The new entrants are entering into the market with mergers, acquisitions, and partnerships in the next few years. Also, some prominent players are taking part in these activities in order to expand their global reach and to gain substantial share in the global market.