Companies are now expected to spend nearly double, this year, what they did last year.
According to the results of a recent study, global mobile ad spending is rising extremely quickly, as it had reached $17.96 billion in 2013, having more than doubled since the year before, and now it is expected to nearly double once again this year.
The growth in 2014 should reach about 75 percent, to bring itself to a worldwide total of 431.5 billion.
The mobile ad spend total for this year represents about a quarter of all of the spending that has occurred on digital advertising. The two companies that will be benefiting the most as a result of this growing spending are Google Inc. and Facebook Inc. Last year, those two companies took in over two thirds of the amount of money that was spent on mobile marketing ads.
The mobile ad budget and spending data for the report was assembled by Millennial Media Inc.
That company offers data analysis for advertisers to help to provide valuable insight and shed some light on industry trends. The report helps to better understand the goals of advertisers based on the spending for the channel that occurred last year, compared it to the year before, and made predictions for this year. The data regarding ad spending had been published last week by eMarketer.
Millennial Media reported that the leading five vertical markets in terms of spending over the mobile channel for advertising, last year were: entertainment, retail, telecommunications, finance, and computer goods, in that order. When compared to the year before, entertainment and retail switched places, and automotive spending’s position was taken by consumer goods.
The consumer goods mobile spending has grown by 134 percent in 2014 alone. However, the largest increase that was seen year over year was in sports advertising. That sector increased the amount that it was pouring into ads by almost 500 percent. One of the trends that increased by the largest amount in terms of popularity and spending was rich media and video ads, which managed to increase 350 percent in the auto advertising sector when compared to banner ads.