The global cross platform & mobile advertising market is expected to experience brisk growth over the forecast period due to an increase in the internet-based mobile devices demand across the world. The rise in Internet usage especially among the young population is estimated to contribute further to this market over the next eight-year period.
Cross-platform & mobile advertising is reflected as an online advertising subdivision. The Cross-platform & mobile advertising model has its presence in various industries, organizations, and geographic locations which provides for deeper market penetration. Social networking sites, shopping portals, and search engines are the most efficient and popular platforms for promotion purposes. Cross-marketing is cross-platform in which promotion is done using the latest technique and trends such as social media and smartphones. In this cross-promotion, promotional companies use advertising methods surpassing several traditional advertisement techniques and introduce new innovative customer-centric approaches. The mobile platform offers a cost-efficient and effective way to influence & attract consumers through ads and promotions.
The increase in internet-based mobile device production due to huge consumer demand in the recent past is estimated to contribute to the industry demand across the world over the forecast period. Moreover due to the rise in the promotional platforms such as social media and online shopping portals in recent years, it is expected to cater further to the end-use cross-platform & mobile advertising market demand. Key factors such as advanced, Internet-based devices, network technologies, multiple advertising platform availability, and an increase in mobile web usage are presumed to boost the cross-platform and mobile advertising market demand over the next eight-year period.
Major concerns related to security and privacy are supposed to hamper the industry demand over the eight-year period. Moreover, unreliable and hoax sources that increase fraudulent activities are anticipated to have an adverse impact on the cross-platform and mobile advertising market over the forecast period. The high demand for better and improved communication services is projected to open up new opportunities for industry participants. Substantial investment required for the innovation of new methods is presumed to pose a challenge for the industry. Complexity in cross-platform promotional activity is estimated to hamper the industry growth.
The retail sector is supposed to have a dominant share in this industry in the next few years due to changes in customer buying habits, mobile proximity marketing, and applications aimed at offering competitive benefits to retail businesses.
Based on adverting platform types the market is segmented as mobile platforms and cross platforms. The cross-platform & mobile advertising market is segmented as content delivery, reporting & analytics solutions, campaign solutions, integrated solutions, and mobile proximity solutions, and several other solutions. Critical devices used for promotion include smartphones, tablets, laptops, smartphones, desktops, and smart TV. Several advertising types include search advertising, MMS, video, voice SMS, mobile digital coupons, SMS, P2P, display, audio, and In-app advertising. Major verticals for this market are consumer goods & retail, telecom & IT, media & entertainment, supply chain & manufacturing, academia, restaurants, banking, financial services & insurance, transportation, logistics, and healthcare.
Key regions include North America, Europe, Central & South America, the Middle East & Africa, and the Asia Pacific. Developed markets such as North America dominated the global industry in recent years ahead of the European region. These regional markets are expected to show a similar trend over the forecast period. North America has accounted for the maximum revenue share in the global industry due to the constant research and development initiatives prevalent in the region.
Developing regions such as the Asia Pacific and Central & South America is expected to experience positive growth in cross-platform and mobile advertising markets owing to rising internet market penetration. Emerging economies such as India and China are estimated to witness positive growth over the next eight-year period and lead the regional industry.
The cross-platform & mobile advertising market is highly cost-intensive and requires a substantial initial investment for installation and implementation. The production is presumed to witness several mergers and acquisitions in the next few years, with companies taking active measures to gain market share and deliver diversified products. Prominent industry participants include Google, Inc., Apple Inc., Microsoft Corporation, Millennial Media, Amobee, Inc., Flytxt, Facebook, Inc., SAP SE, AOL, Yahoo! Inc., and InMobi.
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Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.
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