A new report issued by companiesandmarkets.com has shown that the market for mobile marketing and advertising will have reached nearly $37.5 billion by the year 2012, which would mean a compound annual growth rate (CAGR) of 15 percent.
The skyrocketing popularity of smartphones and tablets worldwide are an important contributing factor to the solid growth of European mobile advertising and marketing, which is predicted to continue well beyond the forecast period that reaches 2020.
It is believed that by then, the market worldwide for mobile advertising and marketing will have reached $54 billion. This is an incredible rate of growth when compared to this year’s $29 billion. This would mean a 5 percent CAGR from 2012 to 2020, when compared with the CAGR of 15 percent that occurred between 2008 and 2012 as the mobile environment first emerged.
The growth over the long term will likely be generated by the South American and Australian demand, as mobile networks continue to broaden their reach and even out their service levels within those marketplaces when compared to the more mature Asian and North American markets.
At the moment, the biggest region for mobile advertising and marketing is in the Asian Pacific, which is expected to have grown to a value of $15.8 billion by next year. Next in line is North America, which will be worth $11.2 billion in 2012, followed by Europe, which will be worth $7.9 billion that year.
Among all of the different techniques that are currently used for mobile advertising and marketing, it is the audio and video advertising that is experiencing the most significant amount of growth. It is expected to maintain this pace until 2015 at the earliest, as tablets and smartphones become more popular among consumers around the world.