International cross-platform and cellular advert market hits $ 297.7 billion
A new market study published by Global Industry Analysts Inc. (GIA), the leading market research company, today published its report entitled “Cross-Platform and Mobile Advertising – Global Market Trajectory & Analytics”. The report offers new perspectives on opportunities and challenges in a strongly changed market after COVID-19.
FACTS AT A GLANCE
Edition: 19; Published: 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 regions and key segments
Segments: Type (Search, Ad, SMS, Native Social, Video, Audio); Platform (smartphones, desktops, tablets, smart televisions)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UNITED KINGDOM; Spain; Russia; the rest of Europe; Asia Pacific; Australia; India; South Korea; the rest of Asia Pacific; Latin America; Argentina; Brazil; Mexico; the rest of Latin America; middle East; Iran; Israel; Saudi Arabia; United Arab Emirates; the rest of middle East; Africa.
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Reaching global cross-platform and mobile advertising market $ 297.7 billion until 2024
Cross-platform advertising, also known as cross-screen or cross-device advertising, refers to the unified digital advertising strategy used across multiple devices such as PCs, tablets, smart TVs, smartphones, and game consoles. Cross-platform advertising has become an integrated form of marketing where a seamless flow of content and news is planned and sequenced across multiple devices. A key feature of such a cross-platform advertising strategy is that each of the aspects complements other components. Cross-platform advertising has proven to be an efficient way for advertisers to reach targeted customers with a single advertisement that is broadcast across multiple platforms. Cross-platform advertising enables marketers, publishers, and advertisers to reach targeted customers from any location, increasing the effectiveness of campaigns. Cross-platform advertising campaigns also allow marketers to engage repeatedly with consumers across different platforms. This is in contrast to a traditional marketing initiative which is more massive in its approach.
Amid the COVID-19 crisis, the global cross-platform and mobile advertising market is expected to be reached $ 297.7 billion by 2024 with a cumulative 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 with an estimated 25.4% share of the total global market. The market should reach $ 80.9 billion until the end of the analysis period. China is expected to lead growth and become the fastest growing regional market with a CAGR of 25.6% over the analysis period. The future growth of the market will be primarily driven by the proliferation of mobile devices as the preferred digital media platform, rapid adoption in various industries, improvement in the economic environment, expansion of the cellular subscriber base, and the increasing spread of movies and music online. The continuous shift of users towards digital media and the rapid development of consumer behavior towards value-based advertising, in which the target group is appropriately rewarded for their time and attention through loyalty points, free / subsidized content and various user-friendly tools, provide additional impetus for market growth.
Overall, rising advertising budgets, generous budget allocations for online advertising, higher 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 main drivers of market expansion. Other important factors that will benefit the market outlook in the near future are the rising popularity of social media networks that promote improved targeting; increasing trend towards mobile apps, which offer enormous potential for cross-platform advertising; the growing importance of the IoT and the resulting growth in connected devices; and strong demand for digital video advertising, supported by effective delivery and streaming of advertising content. More
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