Advertising that targets consumers using mobile phones and devices is expected to account for 70 percent of all digital ad spends within the next four years, according to a report from financial insights hub StockApps.com.
|Share of digital advertising ad spending, 2017-2026.|
According to StockApps’ report, mobile has been responsible for driving significant gains in the digital advertising world. Mobile platforms accounted for 60 percent of digital ad revenues last year, and will make up 62 percent of digital ad spends this year and 64 percent in 2023. Mobile’s share of digital ad spending is expected to increase by approximately two percent every year for the next five years, with estimates indicating that mobile’s share of the digital ad pie is expected to account for 70 percent of all digital advertising by 2026.
However, an overview of mobile’s rapidly escalating gains in the last five years reveals that the annual rate of growth for mobile ads has actually slowed down considerably. According to the StockApps report, the annual growth rate of overall ad spending on mobile platforms was 11 percent in 2018, when mobile accounted for less than half (49 percent) of digital ad spends. This growth fell to nine percent in 2019 (when mobile comprised 54 percent of digital ad spends) and then to seven percent in 2020 (when mobile accounted for 57 percent). Last year, StockApps estimated the annual growth rate is expected to hover somewhere between three and four percent.
The StockApps report was based on numbers obtained from Internet statistics company Statista.