The UK mobile advertising market looks set to finally come of age, with total revenues estimated to grow 840% from £27.47 million this year to £258.27 million by 2015, according to the latest data released by mobileSQUARED.
In 2010, the mobile banner ad market will be worth £12.96 million, with search worth £9.86 million. However, search revenues are projected to overtake banner spend by 2012 and will increase from 36% the total UK mobile ad market at present to 45% by 2015. During the same period, banner revenues will fall from 47% to 29%.
mobileSQUARED has forecasted ‘explosive growth’ in the UK mobile advertising industry since 2006 only to revise numbers downwards again as revenues failed to materialise. Now, however, mobile advertising is gradually evolving beyond the traditional online display model and brands and business are waking up to this highly responsive channel to communicate directly with the customer.
The emergence of the opt-in mobile messaging ad market by 2015 is a reflection of the fact that the average mobile user has their device with them 16 hours per day and 95% of SMSes are read within 3 minutes of being sent.
mobileSQUARED forecasts that mobile messaging ad revenues will experience growth of almost 2,000% during the forecast period from £2.93 million this year to £60.99 million in 2015. As a result, the messaging ad market will increase from 10.5% of total UK mobile ad revenues now to 23.5% by 2015.
mobileSQUARED will be presenting more of its findings on the European mobile advertising, content and apps market at Roadshow: Europe in London, Sept 29.[ad name=”Google Text half banner advert “]