Cross Platform and Mobile Advertising Market Trends [2031]

Report Description

Cross-platform and Mobile Advertising Market outlook 2031

The global cross-platform and mobile advertising market size was USD 161.05 Bn in 2022 and is likely to reach USD 1029.60 Bn by 2031, expanding at a CAGR of 26.1% during 2023–2031. The market growth is attributed to the increasing adoption of mobile and cross-platform advertising for a widespread reach and rising internet penetration across the globe.

Cross-platform and mobile advertising are considered sub-sections of online marketing. Cross-platform advertising is a form of digital marketing strategy that is used by businesses to increase customer engagement. Companies leverage various platforms, such as social media, paid search, video, and SMS advertisement, to promote their products and services.

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Mobile advertisement is gaining popularity, as retail and media & entertainment companies are preferring mobile advertising, owing to the increasing mobile penetration across the globe. However, the number of smartphone users in the world is expected to be around 6.9 billion by the end of 2023, approximately 85% of the world's population. Thus, the rising penetration of smartphones at a rapid pace is contributing to the growth of the market.

Smartphones and tablets are highly preferred by retail and media & entertainment companies for proximity marketing purposes. Proximity marketing is a tactic used by marketing companies to target potential customers with engaging advertising content based on their location.

Companies such as Google, Facebook, and Microsoft are at the frontiers in this market with various advertisement options, such as video ads, display ads, and search ads. The preference for cross-platform and mobile marketing is rapidly growing among marketing and retail companies to enhance customer engagement and improve brand value. This, in turn, is expected to create potential opportunities in the market in the coming years.

The COVID-19 pandemic had a moderate impact on the global cross-platform and mobile advertising market. The demand and usage of cross-platform and mobile advertising solutions decreased during the initial phase of the pandemic, due to the prolonged shutdown of industries, owing to the strict lockdowns imposed by governments across the globe.

However, the demand for cross-platform advertising surged during the second phase of the pandemic, as the COVID regulations were lifted. Retail, BFSI, and marketing companies heavily invested in mobile and cross-platform advertisement to cover up the losses by attracting new customers. Moreover, companies expanded their online services and solutions and preferred this advertisement for wider reach, which boosted the market.

Cross-platform and Mobile Advertising Market Dynamics

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Major Drivers

Increasing demand for consistent performance in marketing to enhance audience reach drives the market. Major companies present in various sectors are heavily using cross-platforms and mobile advertising to gain a major audience, as this advertising provides a unified experience across various platforms with consistent performance.

Companies are able to compete with their competitors and enhance their market position with the use of mobile and cross-platform advertising. The growing adoption of advanced advertising techniques by global companies for enhanced customer reach is expected to drive the market in the coming years.

Existing Restraints

Integration issues associated with cross-platforms and mobile advertising hampers the market. Cross-platform and mobile advertising raises the challenges while integrating applications or solutions with local settings, preferences, and notifications. Using a third-party application to overcome this problem can be a solution; however, this affects the security measures, leading to data theft.

Emerging Opportunities

Growing integration of Artificial Intelligence and Machine learning solutions into cross-platform advertising for a wider reach is expected to create new opportunities in the market during the projection period. AI and ML are playing a crucial role in cross-platform and mobile advertising. Companies and brands are able to establish connections with the targeted customer data based on AI and Machine Learning (ML) patterns and analytics. Moreover, AI assists in recommending suitable display positions and distinguishing between ad spaces.

Scope of the Cross-platform and Mobile Advertising Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Cross-platform and Mobile Advertising Market Segment Insights

Advertisement Type Segment Analysis

Based on advertisement type, the cross-platform and mobile advertising market is divided into display, video, SMS, audio, search, and native social. The video segment is expected to expand at a significant growth rate during the projection period, as video advertisements are more effective than others. This type of advertisement offers a wider reach with good conversion rates.

Thus, retail companies are increasingly investing in video campaigns, as these campaigns allow companies to build their brand with trust and credibility. Video advertisement is highly relevant to the viewers and addresses the specific needs of customers, with increasing digital viewership day by day, thereby boosting the segment in the coming years. For instance,

• Digital video viewership was around 3.3 billion in 2022 and is expected to reach around 3.4 billion in 2023.

The display segment is projected to expand at a significant rate during the forecast period, owing to the increasing preference for display advertisements by companies present in the retail, BFSI, and media & entertainment sectors. Display advertisements help companies build brands and promote their products and services. This form of advertisement creates an initial interest among customers for a product or a service.

Display ads increase the visibility and awareness of the brand with a wide reach and engaging content. The rising preference for display advertising by both large enterprises and SMEs, as they are more effective and cheaper than video ads, is expected to boost the segment in the coming years.

Platform Segment Analysis

On the basis of platform, the global market is segregated into desktops, smartphones, smart televisions, and tablets. The smartphone segment is projected to register a considerable CAGR during the forecast period, due to the increasing smartphone penetration at a rapid pace. Smartphones are widely used for cross-platform and mobile advertisement.

Several advertisement companies are targeting smartphones as a platform for cross-platform and mobile advertising, as they are highly preferred devices for accessing the internet. Furthermore, advertisement companies are able to target a wide audience and enhance customer engagement with easy access to the internet through smartphones.

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Organization Size Segment Analysis

Based on organization size, the cross-platform and mobile advertising market is bifurcated into large enterprises and SMEs. The large enterprise segment dominates the market, due to the extensive usage of cross-platforms and mobile advertising to gain a major audience across multiple platforms. Large enterprises are investing in mobile advertising campaigns to increase customer engagement. This is expected to boost the segment growth during the forecast period.

The SMEs segment is projected to expand at a significant growth rate in the coming years, due to the increasing usage of video and display ads by SMEs for better reach. Cross-forms and mobile advertising are gaining popularity among SMEs, as they help companies to enhance reach with various types of marketing strategies. Display ads and SMS marketing with push notifications are some of the most popular marketing strategies among SMEs, as they are cost-effective and have a wider reach.

End-user Segment Analysis

Based on end-user, the global market is segregated into telecom and IT, media & entertainment, retail, energy and utility, finance & insurance, public administration, and healthcare & social assistance. The retail segment is anticipated to hold a major share of the market, as global companies in the retail sector prefer display and SMS ads for proximity marketing.

Proximity marketing helps retail companies to target customers based on their location. Retail companies present in malls usually prefer mobile advertisements for proximity marketing purposes and to attract new customers.

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Regional Analysis

In terms of region, the global cross-platform and mobile advertising market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, owing to the presence of major mobile advertising and cross-platform companies, such as Google, Facebook, and Microsoft Corporation.

Increasing internet penetration in developed countries, such as the US and Canada, is creating new opportunities in the market. Furthermore, regional retail companies are targeting new customers using cross-platform and mobile advertising, with the presence of 5G internet infrastructure. Companies such as Google and Facebook are generating revenue from mobile and cross-platform advertising. For instance,

• In 2022, Google’s ad revenue was around USD 224 billion. This included the revenue generated from the Google ads platform, display ads, product listings, and service offerings across Google’s extensive ad network, such as properties, partner sites, and apps.

The market in Asia Pacific is projected to expand at a considerable CAGR during the forecast period, owing to the rising internet penetration in emerging economies. Companies present in the region are investing in mobile and cross-platform advertising to reach customers and boost their businesses. The growing smartphone and internet penetration at a rapid pace in emerging economies is another factor contributing to the regional market growth.

​​​​​​​The smartphone adoption rate reached 76% in 2022, with a substantial increase from 64% in 2019. Furthermore, the smartphone adoption rate is expected to reach around 90% by the end of 2030, which is expected to create new opportunities for the market players.

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