Advertisers spent $ 240 billion on mobile ads last year

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With smartphone apps becoming a dynamic digital space, advertisers spent more than $ 240 billion on mobile ads, according to app analytics firm App Annie.

The average time spent by users worldwide on smartphones in the first three months of 2021 was 30% higher than the same period in 2019. India recorded the biggest jump, as consumers spent 80% more time in smartphone apps. According to App Annie, the March-ended quarter compared to 2019.

The global advertising market declined 4.2% as an impact of the epidemic last year, with traditional marketing revenue from print, radio and out-of-home advertising declining by more than 18%. However, according to separate figures by media research agency MAGNA, digital advertising grew 8% in the same period, providing an attractive market for brands.

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App Annie said advertisers around the world are estimated to spend $ 290 billion this year. Additionally, 9 out of 10 iOS users are likely to decline opt-in for user-tracking according to Apple’s new IDFA strategy, with advertisers looking for alternative ways to target users.