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.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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