Mobile Advertising set to rise by 59 per cent
July, 2009 - New research published by ‘Research and Markets' has revealed that mobile advertising is set to rise by 59 per cent in the coming year.
The survey found that when compared to other forms of advertising (print, Internet, TV, radio, direct mail), mobile is growing at a much faster rate because it is considered more cost effective, personalized, and results-driven. Mobile Marketing & Advertising 2009: Challenges and Opportunities examines the current mobile marketing and advertising market, evaluating methods companies are using to effectively leverage it as a platform to enhance brand awareness and increase sales effectiveness.
Research and Markets fully expect that global spending on mobile advertising and marketing initiatives will reach nearly $29 billion in 2009, a 59 per cent increase from 2008.
The report estimates that the world market for mobile marketing and advertising revenues will reach nearly $50 billion by 2014, up from about $29 billion today, growing at a five-year CAGR rate of nearly 12 per cent. Europe and North America will grow at the fastest rates, about 16 per cent through the period, to reach $16.3 billion and $12.4 billion, respectively.
The report sees 2009 as a decisive year for mobile marketing spending as marketeers worldwide move from disillusionment over their expected return from this platform to the realization that they can indeed enhance consumer brand equity via the targeted precision and customised experience that mobile affords over other media placements.