The greatest growth was seen in Latin America, which saw revenues rise by 215%. North America increased by 122% and Europe by 90%, according to the figures from the Global Mobile Advertising Revenue study from the IAB Mobile Marketing Center of Excellence, IAB Europe and IHS Technology.

In Asia Pacific and the Middle East growth was more modest, at 69% and 45% respectively.

“These powerhouse numbers directly reflect mobile’s rapidly increasing role as a vital part of the marketing media mix,” said Anna Bager, vice president and general manager, Mobile Marketing Center of Excellence, IAB.

The results indicate that search remains the dominant segment, representing 48.9% of the total global mobile advertising revenue in 2013 at $9.5bn, while display is not far behind with a 41.5% share at $8bn. Messaging takes a 9.6% share at $1.9bn.

“This year’s global mobile revenue sizing reveals that growth is driven by a diverse array of developments in the mobile advertising ecosystem,” said Daniel Knapp, director advertising research, IHS, and author of the report. “Improvements in marketing technology have enhanced targeting and measurement of mobile advertising, while consolidation among market participants simplifies the process of reaching large audiences.”

Further findings can be found here.