Although mobile advertising has taken a hit this year, a new report finds that it is expected to bounce back in 2010 as more people get their hands on smart phones and other mobile devices.

According to the statistics from Magna, mobile advertising figures for 2009 will not be as high as previously expected with numbers expected to reach $229 million by the end of the year – significantly lower than the $298 million Magna predicted in July 2008.

But despite all the economic problems that have hit advertisers, this is still a 36 percent increase over 2008 numbers. By 2011, the company predicts that these figures will increase to $409 million.

Brian Wieser, global director of forecasting for Magna, told the Wall Street Journal that the mobile ad spending numbers will continue to rise as companies look at the advertising potential.

"Every player is investing against the long-term promise of the platform, so I don’t think anyone is slowing down," he told the paper.

The findings from Magna are in line with figures released last week from the Kelsey Group which predicted that mobile search advertising would increase from $39 million last year to more than $2.3 billion by 2013.