Gartner projects mobile ad spending will grow 74% this year

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Stamford, Conn.—Mobile ad spending will reach $913.5 million this year, up 74% over last year, according to a new report from Gartner.

The report, “Mobile Advertising Grows Quietly,” projects that mobile ad spending will reach $13 billion by 2013. The Asia Pacific region is expected to lead worldwide mobile growth, followed by North America and Western Europe.

Gartner said mobile ad spending will be driven primarily by mobile Web banner ads, as well as mobile search, downloadable applications and SMS advertising.

Location-based targeting is also expected to grow significantly as the technology advances.

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