Global Cross Platform and Mobile Advertising Market: Overview
The global cross platform and mobile advertising market is expected to register robust growth in the near future. The advent of various tools and software to support seamless integration is expected to drive the market. Conventionally, enterprises relied on distribution channels like televisions, billboards, and others to reach consumers. However, consumers are increasingly moving towards more dynamic and vibrant content consumption. This is beneficial for many enterprises as digital disruption is making way for more personal ad-targeting and in many cases, much lower marketing costs. Digital disruption also continues to make new in-roads to reach new consumers as rising penetration of smartphones continues growth of the cross platform and mobile advertising market.
Global Cross Platform and Mobile Advertising Market: Notable Developments
According to recent reports, online advertising has surpassed TV with nearly a $100 bn influx in 2019. Among this, the mobile advertising spending grabbed a lion’s share of the budget with nearly $50 bn in revenues. This growth for mobiles is consistent across various advertising channels including social media, search, and video, and digital audio. Additional, banner ads also witness considerable traction in the same period.
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GDPR came into force on May 25, 2018. Since then, the legislation has made a tremendous mark on the mobile advertising world. During the first phase of its implementation, it created an environment of uncertainty and the ad spending in the digital sphere experienced a plunge. Afterwards, the legislation made way for a much higher demand as advertisers were able to obtain consent by legal means. As a result, the GDPR legislation restored user confidence, and eventually lead to an increased demand, and higher profit margins for players in the cross platform and mobile advertising market.
Global Cross Platform and Mobile Advertising Market: Drivers and Restraints
One of the major factors driving growth of the cross platform and mobile advertising market is the growth of several new businesses. Digital disruption is making way for several new players to learn more about new products, invest in newer opportunities, and reach new consumers around the world. This is expected to continue in the near future as improvements in technology aid penetration of smartphones around the world. Additionally, self-serving platforms like the ones on Google and Facebook are also making it easier for enterprises to independently run marketing operations with little manpower. The ability to sell to new businesses, the growing penetration of technology, and increasing self-serving nature of operations are expected to drive significant growth for the cross platform and mobile advertising market in the near future.
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The cross platform and mobile advertising market also continues to face challenges as the costs of marketing operations remain high. Additionally, according to many advertisers and marketers, transparency is a major concern as large tech companies control means of communication. However, Amazon has jumped in the mobile advertising game on the number three position in recent times. The company’s strategic positioning is expected to lower costs of marketing in the near future and bring more transparency with the added competition.
Global Cross Platform and Mobile Advertising Market: Geographical Analysis
The expected arrival of 5G in China and Europe is expected to drive significant growth for the cross platform and mobile advertising market in the near future. Currently, China continues to make new strides in the market with its large population, heavy penetration, and innovation focused approach. The penetration of internet activities is expected to drive further growth for Europe and Asia Pacific region in the near future.
North America is also expected to witness robust growth as tech giants like Facebook and Google continue to soar ahead with innovative self-service model for advertisers. Additionally, new agreements between news agencies, Google, and Facebook are expected to aid growth of the cross platform and mobile advertising market in the near future.
Middle East and Africa continue to witness high penetration of smartphones. This is expected to create new opportunities for players in the cross platform and mobile advertising market in the near future.
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