The rising use of smartphones, tablets and other portable devices for people’s entertainment and education purposes serves as a key factor augmenting the growth of the global cross platform and mobile advertising market. It serves as a new innovation in the digital marketing business where the user’s dependence on multiscreens will be used to the benefit of the market. Conventional media channels have now come to the conclusion that the attention of consumers have shifted from traditional to conventional media channels and are now more influenced by ‘always-on-display’ advertisement. Cross-platform advertising is the latest concept that supports mobile advertising methods that allows consumers to interact on information that they might need while shopping such as product details, etc and accordingly suggest them products as per their needs. While gathering information from consumer, it becomes easier to understand the choices and interests of the consumer and thus, mobile advertisement can be used to lure them into the product that they find tempted to purchase.
The increasing reliability on multiple screens for online shopping by people has propelled manufacturers to indulge more on online advertisement, mobile advertisement, and come in collaboration with different publishers, and advertisers for gaining an upper hand in the overall market competition for cross platform and mobile advertising. Companies operating in the global cross platform and mobile advertising market include Nokia Corporation, Telenav Inc., Facebook Inc., Apple Inc., Microsoft Corporation, Millenial Media, Jumptap Inc., Inmobi., AOL Inc., Yahoo!, Telenav Inc., and others. There is huge scope of growth for the global cross platform and mobile advertising market from multiple sectors such as BFSI, transportation, healthcare, media, travel, automobile, media & entertainment, and Information Technology. The initial marketing strategy for cross platform advertising on personal devices such as smartphones, and retarget on the consumer’s personal computers such as smart TV, laptop serves as the key strategy adopted by the players of this market.
With the advent of mobile proximity marketing and its steady accent towards positive response from consumers, the market will witness new growth opportunities despite the complexity of private location issues, and cross platform advertising.
The increasing advent and wide adoption of 3G and 4G technology by consumers across the globe serves as another significant growth driver for the global cross platform and mobile advertising market.