Since the COVID-19 pandemic, mobile communication has seen a significant increase in usage. Internet penetration has reached an unprecedented high. Accordingly, mobile advertising is growing at an unprecedented rate. Analysts believe that this market will continue to expand in the years ahead. Indeed, given the sector’s growth prospects, Wall Street analysts see a more than 50% upside in mobile advertising stocks Digital Turbine (NASDAQ:) and Phunware (PHUN). Continue reading. Online engagement has increased dramatically since the COVID-19 epidemic period. This is because more people are working from home and spending less time online. Internet penetration has reached an unprecedented level. International Telecommunication Union (ITU), reported a strong global increase in internet usage. According to ITU, there was a 4.9 billion increase in internet usage by 2021.

The number of mobile phone users has increased as well. In 2019, the total number of subscriptions for mobile phones topped eight billion. This year, it surpassed 8.6 billion. Mobile advertising has become more prominent as companies are putting greater emphasis on it. Mobile advertising spending rose by 17% in 2020 compared to 2020, and it is projected that mobile advertising will reach $339 billion by 2023.

The global mobile advertising market will grow by 34.8%, from $96.46 million in 2021, to $782.12 trillion in 2028. Wall Street analysts believe that mobile advertising stocks Phunware, Inc. and Digital Turbine, Inc. will rise by over 50% within the next few years.

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