The mobile advertising market is expected to reach US$302.49 billion by the end of 2023, increasing from US$125.34 billion in 2017, growing at a CAGR of 19.27% during the forecast period.
Rising consumer adoption of mobile devices is the key factor driving factor for the growth of mobile advertisements. Various end-use industries are providing creative ads to provide information to users owing to rising number of smartphone users. Moreover, emerging trend of social media and the introduction of video ads will further propel the growth of the global mobile advertising market during the forecast period.
However, factors such as decreased engagement and affinity for an app due to ads, and lack of relevant mobile ads will restrain the growth of the market during the forecast period.
Major industry players profiled as part of the report are AdColony, Inc., GumGum, Inc., Digital Turbine, Inc., Mobvista, and Chartboost among others.