Press Release Description
Mobile Advertising in Asia-Pacific Would Be Amplified by the Surging Penetration of Social Media Platforms
The Asia-Pacific Mobile Advertising Market is projected to grow at a CAGR of around 23% during the forecast period, 2023-28, says MarkNtel Advisors in their recent research report. The surge in the users of social media platforms like Facebook, Instagram, Snapchat, and others across the region has been one of the prime reasons for the growth of the market. Consumers have been using social media platforms to enhance social engagement with friends, families, and professionals. Social media platforms have also been one of the sources of entertainment, resulting in an upsurge in the number of users across the region. According to the Economic Times news release 2022, Instagram adds around 100 million users in India every nine months. Thus, the industries like e-commerce, consumer goods, household products, and other industries have started advertising on social media platforms to widen their customer approach leading to market growth.
Additionally, the surging sales of smartphones, laptops, desktops, and tablets, contributed by the rising disposable income of the citizens across the region, have also been proliferating the growth of mobile advertising in the Asia-Pacific region. Smartphones have turned out to be one of the basic needs of the citizens for various purposes like calling, internet, gaming, shopping, etc. These smartphones have also been available in the market at lower prices due to the entry of various Chinese companies like Vivo, Oppo, Xiaomi, etc., subsequently growing smartphone users in the region.
Furthermore, the penetration of the internet & development of 5G networks would also play a key role in the development of the market during the forecast period, further states the research report, "Asia-Pacific Mobile Advertising Market Analysis, 2023."
Retail & E-commerce to Witness a Strong Growth in the Market During the Forecast Period
Based on end-users, the market is bifurcated into Retail & E-commerce, Media & Entertainment, Healthcare, BFSI (Banking, Financial Services, and Insurance), Education, Travel & Tourism, Automotive, and Others (Telecom, Government, etc.). Of them, the Retail & E-commerce segment would grow at a significant rate in the Asia-Pacific Mobile Advertising market during the forecast period due to the rising inclination of consumers to purchase household goods, consumer goods, apparel, and other products over the online platform.
Consumers have been ordering these products over online platforms like Amazon, Flipkart, Amazon, and other online applications to save time & effort. In online stores, consumers get these products at relatively lower prices compared to supermarkets & showrooms. Thus, advertising companies grab the customers' desire & want regarding any product by monitoring their recent web searches & displaying the advertisement on their smartphones or computer, leading to the strong growth of the segment in the market.
China Amassed a Sizable Market Share in Asia-Pacific Mobile Advertising
China Acquired a notable share in the Asia-Pacific Mobile Advertising market due to the presence of a large number of smartphones & internet users across the country. According to the China Internet Network Information Center (CNNIC), by the end of 2021, the number of internet users in China reached around 1.032 billion, which increased by approximately 42.96 million from the previous year & their internet penetration rate raised to 73%.
Thus, the growth in the number of internet users & smartphone users has allowed mobile advertising companies to post more advertisements to enhance the customers of the allied industries' products. Moreover, the rising investment by the government in improving the internet speed via the deployment of 5G networks would also support the market growth in the forthcoming period.
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including Alibaba Group, Alphabet Inc., AppLovin Corporation, Baidu Inc., ByteDance Ltd., InMobi, Kakao Corporation, Meta Platforms, Inc., Mobvista, Tencent Holdings Ltd., Twitter Inc., and Others are looking forward to strengthening their market position.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends that have shaped the industry to its current form?
- What key factors would propel and impede the industry across the region?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition shaped across various countries, followed by their comparative factorial indexing?
- How have buying behavior, customer inclination, and expectations from product manufacturers evolved during 2018-28?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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