Mobile ad spending growing faster than expected

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New York—The U.S. mobile advertising market is growing faster than expected, expanding by 80% this year to $2.61 billion, according to a new report from eMarketer.

According to the company, the growth in mobile ad expenditures is being driven by Google's strong mobile search advertising business, a boost in display inventory on tablet and smartphone devices, and a growing number of mobile ad networks.

Google dominates the mobile search category, eMarketer said, with about 95% of all revenue. And with its AdMob network Google also leads in mobile display ads, with 24.8% of all expenditures, followed by Apple's iAd and Millennial Media close to each other in second place.

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