The advertising market over smartphones and tablets in Australia is expected to grow rapidly.
According to a recent report from Frost & Sullivan, mobile marketing is predicted to rapidly grow over the next five year, to the point that it will reach $682 million by the close of 2018.
The report also indicated that 70 percent of the advertising over this channel will be geared toward tablets.
The analysts at Frost & Sullivan believe that the mobile marketing ecosystem in Australia will experience a compound annual growth rate (CAGR) of 39 percent from 2013 through 2018. It is with that prediction that they reached their forecast of $682 million in spending by the end of that period. Though 70 percent of the spend will be on tablets, the remaining 30 percent will be geared toward smartphone carrying consumers.
Mobile marketing budgets will be increased by a total of an anticipated 50 percent compared to last year.
The report was entitled “Australian Online General and Mobile Advertising Market 2013”. It has indicated that when compared to last year, the companies are now expecting to boost their mobile marketing budgets by an additional 50 percent. It is expecting for that trend to continue over the next few years. Among the companies that were surveyed in order to generate the results for this report, 79 percent stated that they planned to boost their advertising spending by over 10 percent on top of what was previously added.
Over the last year, there has already been a considerable mobile marketing expenditure growth, which has been greatly driven by an increase in the consumption of consumer media over smartphones, but particularly over the slightly larger screens of tablets. It has now reached the point that this channel is being seen as an important element in an overall ad and promotion strategy by both brands and media firms.
The Frost & Sullivan Australian & New Zealand senior research manager, Phil Harpur, explained that over the last year, mobile marketing in Australia has grown solidly among all of the industries in the country, while being led by the automotive, and banking and finance sectors.
