It’s not a secret that one of the most rapidly accelerating growth areas is location targeting via mobile.
Now a new BIA/Kelsey Industry Watch report provides both an overview and many interesting details on the trend.
The report notes that annual U.S. mobile ad spending will grow from $33 billion in 2016 to $72 billion by 2021 — with the location-targeted segment of the overall mobile ad spend projected to rise from $12.4 billion in 2016 to $32.4 billion in 2021.
Despite these impressive growth stats, there’s more potential – much more, in fact – still left on the table.
“The smartphone revolution turns ten this year, and we’ve come a long way,” admits Michael Boland, Chief Analyst and VP of Content for BIA/Kelsey. “But many are far behind, still operating with a desktop mindset. They’ll be left behind the next era of mobile, defined by native-social, voice interfaces and multimedia, not banner ads and traditional search.”
Want to read more? You can download the full report here.