Global mobile advertising revenue increased 92 per cent between 2012 and 2013 to €14.6bn (£11.7bn), according to figures from the IAB's European and US divisions, along with research firm IHS Technology.
Mobile search still makes up the largest share of revenue, making up nearly half of the total with €7.1bn, up 92.1 per cent on the previous year. Meanwhile, display advertising showed the highest growth, up 123.4 per cent to €6bn.
Messaging remains the smallest segment by some distance, with revenue €1.4bn – an increase of just 19.4 per cent – which the report notes could be due to migration away from SMS towards other platforms, presumably OTT messaging and social networks.
The report also breaks down this revenue by region, with North America leading the pack with 41.9 per cent of revenue (€6.1bn), followed by Asia-Pacific with 38.9 per cent (€5.7bn), and Europe with 17.3 per cent (€2.5bn).
Latin America, the smallest market with just 0.7 per cent of revenue (€109m), actually saw the highest growth, up 215 per cent on 2012, far outstripping North America (up 122 per cent), Europe (90 per cent) and Asia-Pacific (69 per cent).
The area which saw the smallest increase was the Middle East and Africa, with revenue up 45 per cent to €170m – presumably due to lower uptake of smartphones in the region. It's worth noting that, if trends continue, mobile ad revenues in Latin America will overtake this region next year, despite having only a third of the population.