The digital marketing industry within the UK is now worth £3.975 billion up 13.4% on a like-for-like basis from £3.507 billion in 2014, according to a recent report by the Internet Advertising Bureau and PwC.
With the average UK household now owning 7.4 mobile devices that connect to the internet, mobile advertising is becoming big business. Advertisers spent a record £7.2 billion on digital advertising in 2014, with the report highlighting the market share for mobile advertising for the first half of 2015 grew to 27.1 per cent, up from 22 per cent in 2014.
Whilst that may not seem a huge increase on the face of it, compare it to a market share of just 9.7% in 2012 and 13% in 2013 and it clearly shows that mobile advertising is experiencing a huge growth spurt.
More interesting perhaps is that advertising spend on mobile increased 51% to £1.08 billion in H1 2015 and now accounts for 27% of all digital advertising.
Other highlights of the report show that social media ad spend grew 65% to £922 million, with 56% (£517 million) accounted for by mobile and video advertising grew 43% year-on-year to £442 million in 2014 – compared to just £53m five years ago. Mobile video advertising, alone, grew 142% year-on-year to £164 million.
Taking these stats into consideration, things are certainly looking rosy for the digital marketing industry with forecasts for 2016 predicting a minimum of a further 6% rise.