Big Market Getting Bigger: Global Mobile Media Set for Explosive Growth

Big Market Getting Bigger: Global Mobile Media Set for Explosive GrowthAccording to the presented findings of a new report from Strategy Analytics, consumer and advertising expenditure on smartphone mobile media will grow twelve percent in 2015.

The report — “Global Mobile Media Forecast: 2001-2021″ — also predicts that mobile could constitute a $425 billion market by 2021.

“Strong growth in smartphone penetration, combined with ubiquitous data connectivity via mobile and WiFi networks, and latent consumer demand to access popular internet services continues to drive the consumption of content on mobile devices,” according to Strategy Analytics. “With advertisers increasingly targeting mobile phone users, mobile advertising is set to account for twenty four percent of total digital advertising expenditure in 2015.”

The surge is largely due to consumer interest in accessing popular internet services and apps on mobile phones, including Facebook, YouTube, Spotify, and mobile games, among others. The growing prevalence of rich media smartphones and improved connectivity are also spurring the move to mobile.

“Mobile operators stand to benefit from rising demand for mobile data,” said Nitesh Patel, Director of Wireless Media Strategies at Strategy Analytics. “The total number of mobile data subscriptions will reach 2.3 billion by the end of 2015 equating to almost half of unique mobile users. Not surprisingly, we are seeing strong growth in emerging mobile data markets, and in particular where smartphone ownership is rising fast.”

Interestingly, Patel noted that by the end 2015, the Asia Pacific region may account for more than half of worldwide data subscriptions.

The entire report can be accessed here.