The Western European mobile advertising market will see revenues grow to £1.1bn by 2014 according to the latest forecast from the analyst, FirstPartner.

The launch of the forecast coincides with the announcement by the Internet Advertising Bureau (IAB) and PricewaterhouseCoopers of their 2009 UK Mobile Ad Spend Survey. FirstPartner says that its 2010 to 2014 forecast takes full account of the IAB’s audited data and is featured in the IAB’s 2009 Ad Spend Survey launch presentation. It notes also that its previous forecast, published in May 2009 forecast the size of the 2009 UK market to within 12 per cent of the actual audited figure recently published by the IAB.

The FirstPartner report offers a detailed breakdown of revenue forecasts across Western European countries and mobile advertising formats. It is available as a full forecast or as data sets for individual countries, regions or formats.

Key findings from the report include:

• The largest market is the UK, which will maintain a steady growth rate of 33 per cent to reach £49.8m in 2010
• UK growth will accelerate in 2011 delivering, revenues of £285m per annum by 2014 
• The next largest markets will be Germany and Italy with revenues of £42.6m and £38.4m in 2010 respectively 
• Revenue growth will be driven primarily by mobile search and the significant increase in mobile internet traffic and application usage, driven by mobile social media use

There’s more information about the report here.