Mobile Advertising Market to Exhibit 21.8% CAGR over 2024 to 2032; GroundTruth Launches GT QR Codes to Strengthen Industry Foothold

The global mobile advertising market size stood at USD 175.62 billion in 2023. The market value is slated to rise from USD 214.59 billion in 2024 to USD 1040.08 billion by 2032 at a CAGR of 21.8% during 2024-2032. The expansion is driven by the soaring formulation of mobile ad strategies for promoting their services and products to the targeted audience. Additional factor propelling industry growth is the increasing product adoption for running ad campaigns.

Fortune Business Insights™ presents this information in its report titled “Mobile Advertising Market Size, Share & COVID-19 Impact Analysis, By Format Type (Search, Display, Digital Video, and Others), By Vertical (Retail & E-commerce, Media & Entertainment, Healthcare, BFSI, Education, Travel & Tourism, Automotive, and Others), and Regional Forecast, 2024-2032”.

Upsurge in Screen Time Propelled Industry Growth During Pandemic Period

Amid the coronavirus pandemic, companies suffered maximum losses in the automotive and travel & tourism sectors. The market growth was propelled by an expansion in the e-commerce and media & entertainment verticals. Additional aspect that fueled industry expansion amid the pandemic period constituted the growing ad spending across the multimedia, music, news, online shopping, and gaming categories.

GroundTruth Rolled out GT QR Codes to Create Better Engagement Opportunities

In March 2022, GroundTruth introduced intent-based quick response ad solution called GT QR codes. The solution helps create offline and digital engagement opportunities with consumers via big screen TV ads, enabling them to go beyond brand awareness.

GroundTruth is a major location-based advertising and marketing technology company. The organization helps businesses generate significant outcomes.

Growing E-commerce and Social Media Penetration to Propel Industry Expansion

The global mobile advertising market growth is being impelled by the rapidly expanding e-commerce sector. Considerable discounts are offered by brands that provide solutions on e-commerce websites.

However, increasing concerns of cyberattacks and privacy issues could hamper market growth over the forecast period.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/mobile-advertising-market-102496

Major Companies Ink Partnership Agreements to Consolidate Market Position

Leading industry players focus on merger agreements, collaborations, acquisitions, and various other strategic steps for strengthening their positions in the market. Some of the additional initiatives include an increase in R&D activities and the formation of alliances. Other factors comprise an escalation in partnership agreements.

Key Players Profiled:

• Meta Platforms, Inc. (U.S.)


• Alphabet, Inc. (Google) (U.S.)


• Chartboost (U.S.)


• AppLovin Corporation (U.S.)


• Twitter, Inc. (U.S.)


• InMobi (India)


• Smaato, Inc. (U.S.)


• Epom (Ukraine)


• Mobvista (China)


• Mintegral (Beijing)

Notable Industry Development

• November 2022 – Sharethrough expanded its CTV Ad Enhancement Suite. The move was centered on improving action and driving campaign results. 

Further Report Findings

• By region, the market has been studied across North America, South America, Europe, the Middle East & Africa, and Asia Pacific.


• The North America mobile advertising market share is touted to register considerable growth throughout the estimated period. The surge is propelled by the increasing expenditure on digital channels.


• The Asia Pacific market for mobile advertising is set to depict substantial expansion over the forecast period. The escalation is impelled by growing smartphone penetration across India, China, and countries in Southeast Asia.


• By format type, the market is segmented into search, display, digital video, and others. The search segment is estimated to grow at a substantial pace throughout the study period. The growth is driven by the surging popularity of search ads.


• Based on vertical, the market for mobile advertising is subdivided into automotive, media & entertainment, retail & e-commerce, education, healthcare, BFSI, and others. The retail & e-commerce segment is expected to grow at a lucrative pace throughout the projected period.

Table of Segmentation