Cross platform and mobile advertising is a division of online advertising. Mobile advertisement is a good substitute for traditional advertisement methods such as televisions, newspapers and others. Mobile advertisement provides compatibility across several platforms, which require less maintenance and budget to maintain their platforms. Thus, cross-platform and mobile advertising is efficient as it helps companies to reach customers on various devices such as smartphones, laptops, tablets, and others. Cross marketing is cross-platform in which advertisement or promotion is done by using the latest techniques and trends such as social media and smartphones. There are some popular and most effective platforms available for advertising such as search engines, shopping portals, and social networking sites. These platforms are used to help companies to retrieve information about consumer interest, choices, and their behaviors. These factors are expected to drive market growth during the forecast period.
Factors driving growth of the cross platform and mobile advertising market
The global cross platform and mobile advertising market is expected to witness significant growth during the forecast period (2021–2028). This is attributed to the evolution of 4G and 5G technologies, increasing adoption of consumer electronics such as smartphones, tablets, and others which further increases the penetration of the internet across the globe. For instance, according to Coherent Market Insights’ analysis, in China, the penetration of smartphones increased from 676.5 million in 2017 to 782.3 million in 2020. Moreover, consumers are depending on multiscreen for online shopping, and most of their media time are spent on smartphones, tablets, laptops, and smart televisions. All these consumer behavior patterns created lucrative opportunities for the cross and mobile advertising platform. These platforms help companies to retarget their customers on multiple devices through advertisement. Changing consumer preferences for advanced technology and penetration of internet is expected to contribute to market growth in the future. Furthermore, growth in promotional platforms such as social media and online shopping portals also increases the global cross-platform and mobile advertising market growth. For instance, according to Coherent Market Insight Analysis, 3,940 million people are actively using social media across the world compared to 3,470 million in 2019. However, major concerns related to security and privacy are expected to hamper market growth during the forecast period.
Regional analysis of cross platform and mobile advertising market
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to account for the largest market share during the forecast period owing to the presence of major companies such as Google, Apple, Inc., Microsoft, and many others. This is attributed to rise in disposable income and urbanization in the region. The rising demand for new technology premium 5G smartphones and high adoption of 5G network generates the demand for cross and mobile advertising in the region. For instance, according to Coherent Market Insight’s report, the number of smart phone users in the U.S. increased from 209.5 million in 2016 to 273.3 million in 2020.
The market in Asia Pacific is also expected to witness significant market growth owing to high growth and internet penetration in the region. For instance, according to Coherent Market Insights Analysis, the number of internet users in India has reached 696.8 million in 2020 from 422.3 million users in 2017. The growing number of internet users created huge demand for cross and mobile platform to analyze the behavior of the consumer and increases the region growth during the forecast period.
Key players in the Cross Platform and Mobile Advertising Market
Key players operating in the cross platform and mobile advertising market are Microsoft, Amazon.com, Inc., Cadent, Flipkart, Apple Inc., Amobee, Inc., Yahoo!, Google, Nokia, Facebook, Inc., Alphabet, SAP, Millennial Media LLC., InMobi, Flytxt, and Jumptap, Inc.
Segmentation of the Cross Platform and Mobile Advertising Market
The cross platform and mobile advertising market is segmented on the basis of platform type, solution, advertisement type, organization size, vertical, and region.