CROSS PLATFORM AND MOBILE ADVERTISING MARKET ANALYSIS

Market Challenges And Opportunities

Factors driving growth of the cross platform and mobile advertising market

The global cross platform and mobile advertising market is expected to witness significant growth during the forecast period (2021–2028). This is attributed to the evolution of 4G and 5G technologies, increasing adoption of consumer electronics such as smartphones, tablets, and others which further increases the penetration of the internet across the globe. For instance, according to Coherent Market Insights’ analysis, in China, the penetration of smartphones increased from 676.5 million in 2017 to 782.3 million in 2020. Moreover, consumers are depending on multiscreen for online shopping, and most of their media time are spent on smartphones, tablets, laptops, and smart televisions. All these consumer behavior patterns created lucrative opportunities for the cross and mobile advertising platform. These platforms help companies to retarget their customers on multiple devices through advertisement. Changing consumer preferences for advanced technology and penetration of internet is expected to contribute to market growth in the future. Furthermore, growth in promotional platforms such as social media and online shopping portals also increases the global cross-platform and mobile advertising market growth. For instance, according to Coherent Market Insight Analysis, 3,940 million people are actively using social media across the world compared to 3,470 million in 2019. However, major concerns related to security and privacy are expected to hamper market growth during the forecast period.