400 per cent growth between 2011 and 2016.
Worldwide mobile advertising revenues hit $9.6 billion in 2012, according to Gartner, while they're set to reach $11.4bn this year before exploding to $24.5bn in 2016.
Overall, the growth will sit at around 400 per cent between 2011 and 2016, and it's expected to offer new monetisation opportunities to app developers, ad networks, and marketers.
Stephanie Baghdassarian, research director at Gartner, said: "The mobile advertising market took off even faster than we expected due to an increased uptake in smartphones and tablets, as well as the merger of consumer behaviours on computers and mobile devices.
"Growth in mobile advertising comes in part at the expense of print formats, especially local newspapers, which currently face much lower ad yields as a result of mobile publishing initiatives."
The evolution around the world will happen at different speeds, with North America and Western Europe expected to catch up with early leading Asia/Pacific, which is led by Japan and South Korea. China and India, meanwhile, are set to make more of a contribution to the market as more global and local brands adopt mobile.