Visiongain Publishes Cross Platform & Mobile Advertising Market Report to 2031
31 March 2021
Visiongain has published a new report on Cross Platform & Mobile Advertising Market Report to 2031: Forecasts By Advertising Platform (Cross-Platform, Mobile), By Solution (Content Delivery, Advertising Campaign, Reporting and Analytics, Mobile Proximity, Integrated Solutions, Others), By Advertising Type (Search Advertising, SMS/MMS/P2P Messaging Advertising, Rich Media, Display Advertising, In-App Advertising, In-Game Advertising, Others), By Organization Size (Small and Medium-Sized Enterprises, Large Enterprises), By Industry Vertical (BFSI, IT & Telecom, Media & Entertainment, Healthcare, Retail & E-Commerce, Government & Public Sector, Travel & Hospitality, Others). PLUS, Profiles of Cross-Platform & Mobile Advertising Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global cross-platform & mobile advertising market was valued at US$ XX billion in 2019 and is projected to reach a market value of US$ XX billion by 2031.
Cross-platform & mobile advertising is a sub-division of online advertising across mobile and other platforms. Rising penetration of smartphones and connected devices and the availability of multiple advertising platforms are the factors driving the growth of the cross-platform & mobile advertising market. The market seeks growth opportunities from the growing usage of social media and the increasing demand for rich communication services. However, concerns related to privacy, and high initial investment are the factors hampering the market growth during the forecast period.
COVID-19 Impact on Cross-Platform & Mobile Advertising Market
The COVID-19 outbreak is having a considerable impact on cross-platform & mobile advertising market. The pandemic and the economic downturn followed by it has affected the lives of people and the businesses. The negative impact on sales has forced the enterprises to focus on the marketing and advertising campaigns to boost customer engagement and sales. Thus, the demand for cross-platform & mobile advertising solutions has been witnessing an increasing demand. However, the enterprises have reduced the spend on new solutions which is likely to hamper the market growth. But the negative impact on the market is short term. The need for an efficient advertising campaign to drive sales is expected to elevate the need for cross-platform & mobile advertising solutions.
Rising Penetration of Smartphones and Connected Devices
Smartphone penetration is on the rise across countries such as China, India, the US, and Brazil, among others owing to the increasing availability of high-end features and high consumer disposable income. Moreover, with the rising Internet penetration and the growing number of connected devices, availability of mobile and cross-platform for advertisement increases. Usage of various Internet-based services across the connected devices allows the marketing professionals to promote the advertising to reach its target audience.
Availability of Multiple Advertising Platforms
With the rising competition in the market, the enterprises are focused on enhancing the promotional or marketing campaigns for obtaining a competitive advantage. Growing usage of computer, laptops, smartphones, tablets, and smart TVs for accessing the social platforms and e-commerce applications has offered various platforms for the business enterprise to reach its customers. Thus, the shift in consumer behaviour provides multiple platforms for advertising. This helps the advertisers to retarget their customers through similar advertisement across various devices.
Growing Usage of Social Media
Social media usage has increased tremendously over the years. Facebook is one of the largest social media platform having 2.4 billion users following to which is YouTube having more than one billion users and many others. Rapid adoption and such high usage of social media applications offer an advantage to the advertisers. The social media applications provide a broad audience for advertising when compared to the traditional advertising platform, which is expected to create growth opportunities in the coming years.
Growing Demand for Rich Communication Services
Rich communication service (RCS) refers to a communication protocol which enables enhanced messaging services such as group chat, video, gifs, file and location sharing, among others. Google, Samsung, and Nokia are amongst the top players focusing on offering rich communication services to its users. These services allow interactive and personalized features which creates huge demand among end-users. Advertising via RCS helps the advertiser to target its customer base by providing interactive features, thereby creating prominent growth opportunities.
The cross-platform & mobile advertising market is highly competitive. The key market players are focused on developing their solutions with advanced features to cater to a complete application area and obtain a competitive position in the market by offering an engaging and enhanced customer experience. Some of the companies profiled in the report include Google, Facebook, Inc., Microsoft Corporation, AOL, Apple Inc., SAP SE, Millenial Media, Amobee, Inc., Yahoo Inc., and Inmobi.
May 2020, InMobi expanded its product offerings and footprint in Southeast Asia to deliver its services. Southeast Asia market, has 90% mobile internet users connecting, which helps InMobi to increase its footprint into Thailand and Vietnam markets in the previous years.
October 2019, InMobi expanded its partnership with Microsoft Corporation. The collaboration allows InMobi to integrate the Microsoft Advertising business to its offerings, thereby providing an integrated solution to marketers for powering their campaigns built on the search capability of Microsoft Advertising and mobile ability of InMobi Marketing Cloud
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