In what is proving to be another big prediction for the future growth of the mobile ad business, the latest data in a new report from Informa Telecoms & Media suggests that global mobile ad revenues will likely touch $24 billion within 5 years.
By comparison, worldwide mobile advertising revenues are expected to reach $3.5 billion this year.
As we’ve all witnessed, the mobile advertising market has exploded to new heights during the last year, and as the initiatives and investments of prominent players in the market continue in full, the industry could continue showing record growth throughout the next half-decade and beyond.
According to Shailendra Pandey, senior analyst at Informa Telecoms & Media, “The launch of Apple’s iAd advertising platform is forcing rivals to speed up their own mobile advertising strategies. Google has responded by acquiring AdMob and has announced it is on track to generate US$1 billion in revenues from mobile in 2010, a significant portion of which will be mobile advertising revenues. Google has also reported a 500% growth in mobile search queries between 2008 and 2010.”
As noted in the report, we’ve officially entered “prime time” in the mobile realm, as the mobile advertising industry “has moved ahead from the trial and experimental phase and many brands are now spending significant sums on mobile campaigns on a regular basis.”
