According to review42.com, there were 5.11 billion unique mobile phone users around the globe in 2019. With a little more than half (2.7 billion) of those unique users on smartphones, mobile advertising is at an all-time high. Whether you open your phone to Instagram, Google, or Amazon every day, there are ads in every nook and cranny of your screen. The following mobile advertising report discusses the growth of mobile advertising over the next four years. The mobile advertising industry is due to grow 111.58 billion from 2021-2025, according to Technavio.
In this report, you will learn more about the impact COVID-19 has had on the mobile advertising market in many ways. From optimistic to, likely, pessimistic forecasts, all scenarios are discussed. If the pandemic continues to grow, we will see a positive impact on this market due to increased time at home due to the lockdowns. Technavio’s pandemic-focused research also explains that market growth will likely continue to increase as compared to 2019, as well.
As countries like the United States continue the spread of the coronavirus pandemic, organizations across the globe are slowly flattening the curve by leveraging their use of technology. I mean, who thought that we would be doing office Holiday parties over Zoom, or even Zoom calls for Thanksgiving and Christmas with our families this year? Technology is helping us to stay connected like it never has before. But as it becomes increasingly important to stay at home and protect one another, we find it comforting to see and speak with our loved ones using whatever means necessary.
Businesses have also become accustomed to using technology to conduct meetings since the first lockdown last March. But what will those businesses need to go through in order to bring business back up to speed in 2021? Well, most large businesses, and advertisers, will go through the following stages:
- Response – Use their best judgment to assess the situation and react accordingly.
- Recovery – Use what they’ve learned during the pandemic to do better for the future.
- Renew – Change their processes based on the results from the previous process.
Building a sound business model that can go through a time like this with ease, if necessary again in the future, will be beneficial in the long run. Continue to learn more about how COVID-19 has affected the mobile advertising industry and check out Tachnavio’s market report.