The global mobile advertising revenue is forecast to reach $11.4 billion in 2013, up from $9.6 billion in 2012, following an increased uptake in smartphones and tablets.
The worldwide revenue will reach $24.5 billion in 2016 with mobile advertising revenue creating new opportunities for application developers and advertising networks. The new opportunities would also include mobile platform providers, specialty agencies and even communications service providers in certain regions, according to a study by research and firm Gartner.
"The mobile advertising market took off even faster than we expected due to an increased uptake in smartphones and tablets, as well as the merger of consumer behaviour on computers and mobile devices," said Stephanie Baghdassarian, Research Director at Gartner.
"Growth in mobile advertising comes in part at the expense of print formats, especially local newspapers, which currently face much lower ad yields as a result of mobile publishing initiatives,” Baghdassarian added.
"Smartphones and media tablets extend the addressable market for mobile advertising in more and more geographies as an increasing population of users spends an increasing share of its time with these devices," said Andrew Frank, Research Vice- President at Gartner.
A large adoption of handsets for digital content consumption in Japan and South Korea has given the Asia-Pacific region an early lead in mobile advertising worldwide. Looking forward, the high-growth economies of China and India are expected to contribute increasingly to mobile advertising growth, as their expanding middle classes present attractive markets for global and local brands.
However, North America and Western Europe will close the gap on Asia-Pacific as the mobile channel gets more and more integrated with 360-degree advertising campaigns, eating up budgets historically allocated to print and radio. Consumer multitasking will drive preference for multiplatform approaches, which will blur the lines between channels and make it difficult to eliminate category overlap.
In the rest of the world — Latin America, Eastern Europe, and the Middle East and Africa — mobile advertising growth will be aligned with technology adoption and the stabilisation of emerging economies, but will mostly be driven by large markets such as Russia, Brazil and Mexico.