NEW YORK (TheStreet) -- Facebook (FB) is a seasoned company by Silicon Valley standards, so its growth in advertising market share over its relatively short life is easily taken for granted. The little Harvard side-project is not only competing with tech titan Google (GOOGL) for online advertising dollars, it's gaining ground.
Facebook's secret weapon is mobile advertising, a market that is expected to grow 75% globally to nearly $32 billion this year, according to eMarketer estimates. With an influx of cash flooding online advertising, Facebook is managing to snap up the growth at a far greater pace than Google.
While Google still receives the majority of global mobile ad revenue at around half the total, its supremacy is slipping. By the end of 2014, eMarketer expects its mobile market share to fall to 46.8% from 52.6% two years earlier. Over the same period of time, Facebook is expected to accelerate its mobile ad revenue share to 21.7% from 5.4%., with its growth primarily at the expense of Google with very little change in share seen from other players such as Twitter (TWTR) and Pandora (P) .
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