Think mobile isn’t important? Well, most of your competitors do. A new research report by Swedish analyst firm Berg Insight predicts that mobile ad spending will grow 37 percent annually over the next four years.

In 2010, mobile ad spend was just $3.4 billion worldwide, but Berg is estimating it to increase to $22.4 billion by 2016.

Berg Telecom Analyst Rickard Andersson said that our rapid smartphone adoption is a “game-changer,” and accredited the increase of mobile ad spend to major brands’ willingness to incorporate mobile into their campaigns.

“Brands are now progressively embracing the mobile channel, including the entire range of apps from games and entertainment to utility applications. Also, mobile web advertising and opt-in SMS campaigns are popular,” he said.

Andersson also predicted that location-based advertising will gain ground over the next few years, offering up marketing messages that are “hyper-relevant” to the user in both time and place.

It’s not all sunshine and rainbows, however. Berg says the market hasn’t matured yet, and many big companies such as Microsoft, Apple, Google, and Amazon are vying for mobile users’ attention.

With more people using smartphones – and with mobile ad spend increasing – don’t you think it’s time you evaluated your mobile strategy? The battle for market share among the tech giants shows how important mobile is becoming.

It’s not too late, as mobile is still young, but you need to think about all the customers you’re missing out on. Google reported that more than half of all local searches have local intent, meaning that your customers are using mobile to search for you.

Check out our what we do page to learn more about how we can help your business with local Internet advertising and marketing.

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