As mobile web use becomes increasingly common, large numbers of companies are turning to mobile advertising to reach consumers.
According to a new report from Juniper Research, spending on mobile internet marketing is therefore expected to rise strongly over the next few years.
It predicts that by 2014, mobile ad spend will have reached $5.7 billion (£3.5 billion) and will be seen as a key medium for marketers.
However, despite the growth, mobile advertising is still only likely to represent 1.5 per cent of total spending on advertising by this point.
Dr Windsor Holden, author of the report, pointed out: "Regardless of mobile’s advantages – its personal nature, the facility for highly targeted advertising – advertisers will not commit more budget until they perceive that the audience for their advertisements has reached a critical mass."
Separate research from the Mobile Marketing Association shows that average budgets for mobile internet marketing are growing by 26 per cent per year, DMNews reports.