JupiterResearch analyst Neil Strother put out a report recently that forecasted the market size for mobile advertising.

The conclusion is that the opportunity holds great promise.

By 2011, the market could be as large as $2.9 billion.

The caveat is that there is a lot of fragmentation and significant hurdles that could easily dampen results.

The key questions the report attempts to answer are: What ecosystem are mobile advertising networks operating in?; What hurdles do these networks face? What conditions are necessary for mobile advertising to achieve rapid growth?