SPENDING ON MOBILE ADS WILL REACH $362 BILLION BY 2023

Sun 18 December 2022:

Global mobile ad expenditure is predicted to reach $362 billion in 2023 as mobile advertising continues to grow in popularity.

According to a data.ai report, mobile will take over the advertising wallet as more time is spent in apps than ever before, with total hours on track to exceed four trillion on Android phones alone by 2022.

The global mobile ad spend in 2022 is expected to be $336 billion.

Furthermore, the report stated that economic headwinds and privacy regulations will reduce mobile gaming spending in 2022 and 2023.

In 2023, 14 more titles will join the coveted $2 billion app club.

About 11 of the 14 titles in the app store on gaming are expected to surpass $2 billion in consumer spending.

Seven apps and games will join the $3 billion app club in 2023, according to the report.

Furthermore, the global hours spent on mobile are expected to surpass six trillion hours in 2028.

Increasing mobile centricity, advancements in connected technologies, growth of casual and core gaming, 5G roll-out, demand for digital connection, self-expression, and deeper app personalization will drive sustained growth in mobile device time spent.

According to the analysis, growth will be fueled by user-generated content and video streaming over the next six years.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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