A new report from the Interactive Advertising Bureau (IAB) shows mobile advertising spending continues to grow sharply, up 65% globally last year to $31.9 billion. According to study data, North America makes up 44.9% of the mobile advertising market, with $14.3 billion spent. Spending in North America last year was up 77%, compared to 2013. “Mobile devices are at the center of consumers’ lives across the globe, and these numbers reflect brands’ increasing recognition that this medium holds great power,” said Anna Bager, a senior vice president at IAB.
Spending on mobile display ads was up 88% from 2013 to 2014, reaching $15.1 billion, or 47% of total spending on mobile ads. The other big chunk of mobile advertising dollars went to search engines, with $14.7 billion spent in 2014. Advertisers spent $2.1 billion for ads on mobile messaging apps, a 13% uptick from 2013. “It’s important that advertisers, agencies and publishers fully understand consumer behavior as the differences between the devices diminish and the potential for engagement with digital content grows,” said Townsend Feehan, CEO of IAB Europe.
After North America, the next-largest mobile spending market is Asia, with $11.6 billion spent in 2014, per the report. The Middle East & Africa region followed with spending of $379 million, with Latin America coming in at $239 million.