Location-based advertising has become one of the buzzwords for 2010. The industry is growing so quickly that ABI Research predicts spending will reach $1.8 billion in 2015. But how exactly will this spending take place? ABI Research’s new Location Based Marketing report has some answers.
Borrell Associates, local media market experts, are bullish on local mobile marketing for 2010. And the firm’s analysts expect to see a rapid growth trajectory between now and 2015. Basically, the firm is looking for local mobile marketing to ramp up from $600 million in 2010 to $14.6 billion in 2015. At the same time, the national mobile marketing volume may reach $42 billion in 2015, marking a phenomenal growth rate from the expected 2010 level of $14.9 billion.
Yesterday, I blogged about the expected growth rates in mobile marketing and how specific age groups find some mobile ad types more appealing than others. Many industry watchers expect 2010 to be the ‘break-out’ year for mobile marketing. As a result, DM2PRO and Mojiva recently polled industry professionals regarding their planned use of mobile marketing in 2010.
As smart phone usage continues to rise – the penetration rate is now at 30% — marketers are looking for the best way to reach consumers who are spending more time connecting with information on the go. Ad spending in this sector is expected to reach nearly $593 million in 2010. And according to eMarketer, ad revenue is projected to grow through 2013 as follows:
Market watchers have been waiting for the breakout year in mobile advertising. According to Forrester projections, spending on this medium should increase from $391 million in 2009 to $561 million in 2010. While the overall numbers are still small in comparison to total interactive marketing spending, estimated to reach $29 billion in 2010, the 43% growth rate makes mobile an exciting category.