The IAB has released their latest report that looks at how well mobile advertising did for 2016. Not surprisingly, the news was very positive. Year over year, revenue went up by 60.5%, reaching $83 Billion. As more and more people continue to not only move to using smartphones, but also getting more comfortable making purchases and other activities on mobile, these numbers will likely continue to shoot up.
Display ads were the most popular, making up 54% of all mobile ad spend in 2016, which his up slightly from 52.8% in 2015. Search ads on mobile also made a strong showing, bringing in $36 billion, which is a growth of 61.1% yoy. These two ad types make up the vast majority of the total mobile ad market for 2016.
In this global report, North America continued to dominate the world in this area. This region had a 73.1% growth over the year, and brought in $38 billion in revenue, which is just a little under half of all the money being spent.
The Asia Pacific region also had a strong showing, creating $27 billion, and Europe was third at $16 billion.
Overall, this is good news for those taking advantage of mobile for their marketing. It is clearly becoming a strong standard, and consumers are relying on these devices more and more for their daily activities.