A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Cross-Platform and Mobile Advertising – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 19; Released: May 2021
Executive Pool: 2989
Companies: 39 – Players covered include Amobee, Inc.; Cadent LLC; Conversant LLC; Google, Inc.; InMobi; Microsoft Corporation; PubMatic, Inc.; RhythmOne, LLC; Sizmek; Tapad, Inc.; TiVo Corporation and Others.
Coverage: All major geographies and key segments
Segments: Type (Search, Display, SMS, Native Social, Video, Audio); Platform (Smartphones, Desktops, Tablets, Smart Televisions)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazil; Mexico; Rest of Latin America; Middle East; Iran; Israel; Saudi Arabia; UAE; Rest of Middle East; Africa.
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Global Cross-Platform and Mobile Advertising Market to Reach $297.7 Billion by 2024
Cross platform advertising, also known as cross-screen or cross-device advertising, is referred to the unified digital advertising strategy adopted for multiple devices such as personal computers, tablets, smart TVs, smartphones, and gaming consoles. Cross platform advertising has emerged as an integrated form of marketing, which involves planning and sequencing a seamless flow of content and messages to multiple devices. A key characteristic of such a cross platform advertising strategy is that each of the aspects complements other components. Cross-platform advertising has emerged as an efficient way for advertisers to reach out to target customers with a single advertisement broadcast on multiple platforms. Through cross-platform advertising, marketers, publishers, and advertisers can reach targeted customers from any given location, thereby enhancing the effectiveness of campaigns. Cross-platform advertising campaigns also enable marketers to engage with consumers repeatedly over different platforms. This contrasts with a conventional marketing initiative that is more massive in its approach.
Amid the COVID-19 crisis, Global Cross-Platform and Mobile Advertising market is projected to reach US$297.7 Billion by 2024, registering a compounded annual growth rate (CAGR) of 20.5% over the analysis period. The United States represents the largest regional market for Cross-Platform and Mobile Advertising, accounting for an estimated 25.4% share of the global total. The market is projected to reach US$80.9 Billion by the end of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 25.6% over the analysis period. Future growth in the market will be primarily driven by the growing proliferation of mobile devices as the preferred digital media platform, rapid adoption across various industry verticals, improving economic environment, expanding mobile subscriber base, and increasing distribution of films and music online. Continuous shift of users towards digital media and rapid evolution in consumer behavior towards value-based advertising where the target audience is appropriately compensated for their time and attention through loyalty points, free/subsidized content, and various user-friendly tools, are additionally providing impetus to market growth.
Overall increase in advertising budgets, generous allocation of budget to online ads, increased prices for direct response vehicles and branding ads, and an increase in the number of advertising agencies incorporating online media into their integrated campaigns are some of the major factors driving market expansion. Other important factors poised to benefit market prospects in the near term include surging popularity of social media networks that promote improved targeting; increasing trend towards mobile apps offering huge potential for cross-platform advertising; growing prominence of IoT and the resultant growth in connected devices; and robust demand for digital video advertising supported by effective delivery and streaming of ad content. More
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