This year’s annual Internet Trends Code Conference showed a big opportunity for mobile advertising agencies and consumer brands in U.S. markets.

As media technology grows, opportunities soon follow. Innovative advertising agencies are leveraging new ad platforms to reach more consumers through online search, pre-roll video, social media and programmatic ads.

64% of American adults now own a smartphone, and mobile advertising platforms are giving consumers an easier-to-use format for interacting online. Streamline user interactions can make ad campaigns more effective and improve conversion rates.

Recent data from BI Intelligence says that U.S. mobile ads will grow to nearly $42 billion by 2018. Key points from their forecast indicate that display and video will be the fastest-growing mobile ad formats, but search and social media will still account for the largest share of US mobile advertising.

Search is a strong format on mobile because of its convergence with local mobile ad targeting. Mobile programmatic ads are expected to account for 43% of US mobile display-related ad growth by 2018.

Changes in connectivity and commerce will impact consumption, but even with forward progress and momentum, there is still a gap between the rapid adoption of mobile and the budgets assigned to it.

Mobile advertising agencies and consumer brands will need to shift ad budgets to begin catching up to online buyers who are embracing the channel.