The mobile advertisement market will grow significantly in the next two years to reach an overall value of $47.5 billion, researchers predict.
In a new industry report, media experts at ZenithOptimedia said that the mobile market will grow by approximately 49 per cent each year between now and 2016. By the end of the forecast period, it is expected to account for 8.2 per cent of all ad spending.
According to thedrum.com, the widespread adoption of smartphones and tablets means that overall mobile ad spend will grow more than five times faster than the equivalent figure for desktop ads. It will also overtake a number of other mediums – including magazine and radio – to become the fourth largest advertising platform.
While the World Cup competition in Brazil is likely to boost TV spend throughout the summer, companies looking to use the tournament to their advantage are still expected to focus their efforts on reaching internet users.
Social media is likely to play a significant part in many marketers’ efforts over the next couple of months, with brands set to be more active online than they have been during any sporting event in the past.
For advertising as a whole, ZenithOptimedia says the UK market will reach a value of $25.7 billion in 2016. If the forecasts are accurate, the UK will race ahead of Germany, where the market is expected to be worth $25.3 billion at the same time, marketingweek.co.uk reports.