Worldwide mobile spending is expected to hit $18.0 billion this year, up from $13.1 billion last year, according to research firm Gartner Inc. By 2017, the market will reach $41.9 billion.
While video shows the most growth because of widespread adoption of tablets, display will rake in the most mobile revenue.
However, even though advertisers’ enthusiasm for the medium will continue to skyrocket, mobile growth will start to slow down in the coming years.
“Over the next few years, growth in mobile advertising spending will slow due to ad space inventory supply growing faster than demand, as the number of mobile websites and applications increases faster than brands request ad space on mobile device screens,” said Stephanie Baghdassarian, research director at Gartner, in a statement. “However, from 2015 to 2017, growth will be fueled by improved market conditions, such as provider consolidation, measurement standardization and new targeting technologies, along with a sustained interest in the mobile medium from advertisers.”
The growing popularity of the mobile Web will cause the market to shift from in-app display to Web display. However, this shift is happening slower than Gartner predicted because the use of HTML5 tools in mobile website development is “taking longer to impact the market.” In addition, increased use of location data gathered from mobile users will boost the search and mapping categories.
Which is rather good news for the new company I am working for as JusTaxi is a geo location using mobile app that helps people get the best price for the taxi they book.