Securing four per cent of all digital advertising spend.
New data from analyst Berg Insight shows that geolocation tech is set to become increasingly significant in the next four years, as real-time location-based mobile ad spend hits €4.9 billion in 2016, a CAGR of 91 per cent from €192 million in 2011.
That's the equivalent of 28.3 per cent of all mobile ad and marketing spend, four per cent of digital advertising and one per cent total global ad spend for all media.
Rickard Andersson, telecom analyst, Berg Insight, said: "The growing attach rates of location technologies in handsets and the increasing consumer acceptance of location-based services in general are the main game changers."
"Major brands are progressively embracing location-based advertising across the range of mobile formats, and LBA also opens up the mobile channel for new advertisers such as local merchants."
Location-based ads provide consumers with more relevant content, rather than simply sending the same offers to everyone regardless of their whereabouts. Yesterday, we reported that Foursquare is joining the daily deals market, integrating it into its check-in platform.
Andersson adds that SMS, mobile search and coupons are important high-volume LBA formats.
This summer, ME's Monetising Mobile conference will discuss the mobile rich media space, with speakers from Google and more.
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