ADVERTISING spending on mobile phones is forecast to double in the next three years, with the market set to become worth almost $25bn (£15.6bn) by 2016.
Figures from research firm Gartner claim that the increasing number of people browsing the web and using apps on smartphones and tablets mean advertising revenue will rocket from $9.6bn last year to $11.4bn in 2013, and will then hit $24.6bn by 2016.
Mobile phones are seen as an opportunity for many advertising companies, offering the ability to use a phone’s geo-location data to target location-specific adverts, such as those for local restaurants.
Tablets, which are often used while people watch TV, are also seen as a big growth area in marketing, with advertisers able to offer relevant games or videos on a tablet to embellish TV adverts.
“Smartphones and media tablets extend the addressable market for mobile advertising in more and more geographies as an increasing population of users spends an increasing share of its time with these devices,” said Andrew Frank, Gartner’s vice president in charge of research.