According to a new report by eMarketer, mobile ad spending is expected to grow by 62% in 2012 to an estimated $6.4 billion.
eMarketer estimates the that the mobile ad industry will grow nearly 100% this year in the US alone. Revenue is expected to hit $2.3 billion, and be the first year the US overtakes Japan. Japan's market is still expected to grow 27.2% to 1.7 billion. Western Europe is also growing, with an expected growth of 68.3% to 1.3 billion.
The charts below illustrate how mobile is expected to continue growing in the upcoming years, in all geographical areas of the world. Most growth will come in the next few years as more and more individuals adopt mobile technology until the markets mature.
What does all this mean for you? Mobile advertising will only continue to grow leaving advertisers and publishers alike an opportunity to broaden their reach into a new advertising avenue. Mobile ads will play a huge roll in advertising in the coming years, which is why social media companies like Facebook, are focusing their advertising efforts on mobile. However, it's not without it's difficulties as mobile marketing has it's own constraints, most notably space. The limited space leads to a lower CPM (cost-per-thousand) rate.
Mobile should not be a stand alone marketing effort, a balanced approach to advertising would be best as each platform has it's challenges and benefits. Social media and digital advertising are constantly developing and advertisers and publishers must stay up to date with the latest innovations to maximize their revenue.