As shoppers increasingly spend more time and do more shopping on their mobile devices, so mobile ad spend is starting to catch up. This trend is particularly true in APAC. Indeed, according to a recent eMarketer study, digital ad spending is expected to grow by 14% in both Hong Kong and Taiwan this year. Within this, mobile advertising expenditures are expected to grow even faster, increasing 56% over the last year. Since mobile is one of the top methods for getting online, spending on mobile devices in these regions is also expected to grow accordingly.
When examining digital advertising in Hong Kong, mobile is the primary growth driver. While mobile currently accounts for 49.2% of all digital ad spend in the region, that number is expected to climb to 80.2% by 2021. In total, this means mobile ad spend in Hong Kong will grow from $314.3 million USD annually to $676.9 million USD annually by 2021, which creates a huge monetization opportunity for mobile publishers in the market.
Taiwan is another growth market for mobile advertisers as users increasingly turn to their mobile phones for messaging and social apps. As such, 71.5% of its digital ad spend will go to mobile formats in 2017, and this share is expected to increase in the coming years.
Here’s what this could mean for mobile:
- Big opportunity for business growth — Recognizing the growing focus on mobile and shifting your marketing strategy to align with the industry will mean increased brand awareness, downloads, impressions, and clicks.
- The future of mobile is promising — Mobile is becoming a bigger part of people’s daily lives. With spending in traditional channels migrating towards mobile, programmatic advertising is set to grow as well. Investing in regions like China and Taiwan is a smart move for the long-term.
- Responding to consumer behavior is essential — Consumers are spending more time in apps and on-the-go. Advertisers can now gain a better understanding of their market and should use this data to better cater in-app advertising to their audience. No more excuses, just relevant, high-quality content delivered where and when they need it.
As advertisers’ confidence in digital formats continues to grow, so does spending in this area. According to AdColony’s latest App Install Marketing Survey, a majority of top mobile marketers in the APAC region (82%) stated that they will be increasing their user acquisition campaign budgets in 2018. The survey results also revealed a shift towards video (91%) and an increase in social spend (82%). As it stands, a majority of app install budgets today are allocated towards mobile video, and spending in this format is only expected to grow more in the coming year.
Join the Conversation
What are your thoughts on these forecasts? Tweet us @AdColony. For the latest AdColony mobile news and updates, follow @AdColony on Twitter, like us on Facebook, or connect on Linkedin.