Google's just-announced $750 million acquisition of AdMob has several important implications for mobile marketers.

First, it will help consolidate the mobile ad space, which is currently fragmented and populated with smaller players. Second, it will almost certainly increase overall availability in the now-tiny mobile ad market, while at the same time giving a huge boost to inventory specifically aimed at the Android platform.

While Google itself points out that mobile ads currently make up less than 1% of all ad budgets, and the company now reaps very little revenue from mobile ads, the search giant is now betting that mobile ads - including display - are ready for prime time, especially on Android.

CEO Eric Schmidt said as much during the company's recent earnings call when he hinted the company would be making both "large and small" acquisitions. Android, he said, is well on its way to becoming a mainstream platform.

The Case for Android

Now that the acquisition has been announced, Google and Admob are taking their case to advertisers. It's a strong argument, because iPhone and Android users browse the internet more often than anyone else, according to Susan Wojcicki, VP of Product Management at Google and Vic Gundotra, VP of Engineering.

Furthermore, one-fourth of these same iPhone and Android users spend nearly 90 minutes per day using applications on their devices. "For advertisers who want to reach users when they are engaged with mobile content, this deal will bring better, more relevant ads and greater reach. It will also mean more interesting, engaging ad formats," the Google execs said.

Despite its current specialty of display ads on iPhones, AdMob executives appear to now be channeling Google. Admob recently started a business unit focused on ads for Android phones - and is expecting the platform to follow the same trajectory as the iPhone's, according to AdMob CEO Omar Hamoui.

"Apple solved so many problems that had plagued mobile for so long," Hamoi said in a blog post announcing the deal. "Now with the addition of excellent devices from Palm, Nokia, RIM, and plethora of Android powered smartphones, we have all the preconditions necessary for what will be a tidal wave of mobile browsing and app usage."