The global market for Cross-Platform and Mobile Advertising is projected to reach US$356. 4 billion by 2025, driven by the rise of digital advertising and marketing which is transforming, transitioning and conditioning brand-consumer relationships. Global media spending is rapidly shifting from the hitherto high cost and relatively low visibility traditional media channels towards the low cost and higher visibility digital media platforms such as Internet and mobile. Key factors driving the transformation include the rise of the connected consumer as a result of the rapid penetration of smart phones and tablets; expanding internet user base as well as mobile internet user base; and the faster growth of broadband connectivity in both developed and developing countries. With several advantages such as higher viewer recall retention of digitally displayed messages, consumer-targeting capabilities and sophisticated measurement techniques stacked in its favor, digital advertising services are poised to witness healthy growth in the coming years. Future growth will be primarily driven by the growing proliferation of mobile devices as the preferred digital media platform, rapid adoption across various industry verticals, improving economic environment, expanding mobile subscriber base, and increasing distribution of films and music online. Continuous shift of users towards digital media and rapid evolution in consumer behavior towards value-based advertising where the target audience is appropriately compensated for their time and attention through loyalty points, free/subsidized content, and various user-friendly tools, are additionally providing impetus to market growth.
Overall increase in advertising budgets, generous allocation of budget to online ads, increased prices for direct response vehicles and branding ads, and an increase in the number of advertising agencies incorporating online media into their integrated campaigns are some of the major factors driving market expansion. Other important factors poised to benefit market prospects in the near term include surging popularity of social media networks that promote improved targeting; increasing trend towards mobile apps offering huge potential for cross-platform advertising; growing prominence of IoT and the resultant growth in connected devices; and robust demand for digital video advertising supported by effective delivery and streaming of ad content. Standing out as the most important driver of cross-platform and mobile advertising is the growing saturation of multi-screen content consumption as a result of rapid digitalization of an average household. An average household today is replete with electronic gadgets such as PCs, tablets, smart phones, gaming consoles & smart TVs. Switching between multiple devices is the new order of content consumption. Per day an average person spends over 195 minutes on a smart phone; 135 minutes on a computer and 85 minutes on a tablet. Shopping online is the 3rd largest activity performed on multiple screens, after browsing the internet and social networking. A single purchase task is completed sequentially across multiple screens. This cross-screen behavior makes cross device strategy essential for successful marketing. With cross platform advertising, advertisers have the advantage of reaching out to a larger number of target customers through various digital channels and devices. Cross-platform advertising includes varied solutions such as content delivery solutions, advertisement campaign solutions, mobile proximity solutions, integrated solutions, and analytics and reporting solutions. All of these solutions help to deliver different forms of advertising including search advertising, Multimedia Messaging Service (MMS), Short Message Service (SMS), Peer-to-Peer (P2P) messaging advertising, display and rich media (video advertising), in-app advertising and audio, outbound dialer or voice SMS advertising.
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