Mobile Advertising Market Set to Rise Dramatically in the Coming Years, says Report Factors like cheaper smartphones and better connectivity are driving a 124% increase in video ad consumption.
By Nidhi Singh •
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Indians depend more on a smartphone than any other device. Regardless of age, the strong demand for music, video and entertainment apps has led to the rise of smartphone usage. This provides a huge opportunity for growth of mobile advertising in India. Many brands and advertisers are now utilizing mobile video ads to grow brand awareness and bring better engagement. The increasing mobile video consumption has raised the digital ad spending per year.
According to a recent InMobi report titled "The Shifting Terrain', India is the 6th largest market for mobile video ads in terms of user consumption.The mobile advertising will be a $1.2 billion market by 2020. Factors like cheaper smartphones and better connectivity are driving a 124% increase in video ad consumption. The most preferred genre of video advertising content consumed by Indians is retail, entertainment, and technology.
Entrepreneur India takes a look at other key highlights of the report:
Share of Mobile video Ads consumed over Wi-Fi vs Mobile Data:
The study highlights that Indians view video content maximum time via mobile data The arrival of new mobile network operators has driven the cost of mobile internet prices lower, making it affordable for people across income brackets to access high-speed internet. Only 39% of mobile video ads are viewed on Wi-Fi.
It's Time To Raise The Standards Mobile Ad Viewability:
Mobile advertising is booming but the industry's approach to measuring viewability of mobile ads hasn't kept up. An ad that is not seen or heard by a human has no value. Various factors such as ad load speeds, outdated ad serving technology and a lack of global measurement standards combine to present several challenges to viewability.
The report has suggested few ways through ways which brands can improve ad viewability :
- Ask for SDK (software development kit) integrated inventory
- Pay only for served and measured impressions
- Demand independent measurement
- Work with MRC(Media Rating Council )-certified partners
Innovations In Mobile Video Ads Will Attract Higher Investment:
The demand for video is growing rapidly. In 2017 alone, the video was the fastest growing ad format available to marketers, charting over 119 percent growth in ad spends and 124% increase in consumption over last year. The report states that with constant growth in smartphone usage, adoption of 4G technologies, continuous innovation, and standardization of video templates, mobile video will continue to grow.
Experience 360 Degree and Virtual Reality in Video Advertising :
Video ad formats such as vertical, 360 degree and virtual reality are the next frontier in video advertising. These will deliver an immersive and interactive experience to users. Industries like travel, fashion and entertainment can leverage video ads to create virtual holiday tours, product trials, movie trailers and lead to subsequent bookings to enhance customer experience.
Higher User Engagement:
With increased emphasis on viewability driving advertiser confidence in the avideo, further coupled with unparalleled results. The mobile advertising sector will experience higher user engagement and higher conversions compared to static formats.
