According to the report published by Allied Market Research, the global mobile marketing market generated $11.00 billion in 2020, and is predicted to reach $57.85 billion by 2030, exhibiting a CAGR of 18.3% from 2021 to 2030. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.
On-demand business model with an emphasis on customer experience and an increase in popularity of omnichannel shopping fuel the growth of the global mobile marketing market. On the other hand, complexities in integrating electronic data and data synchronization hinder the market progress. On the contrary, AI-based client experience management policies are anticipated to create opportunities for the market in the future.
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Mobile marketing relates to any promotional activity that takes place on smartphones or other handheld devices, including tablets and cell/mobile phones. Mobile marketing aims to reach an audience of mobile users through methods such as mobile-optimized ads, push notifications, and mobile applications.
COVID-19 scenario:
- Strict regulations regarding social distancing measures increased the preference for online channel.
- During the pandemic, as most of companies have adopted a work-from-home policy, the demand for mobile marketing services has increased. This helps companies to offer an efficient consumer experience.
Mobile Marketing Market Segmentation:
The report segments the global mobile marketing market on the basis of channel, component, verticals, organization size, and region.
Based on component, the platform segment accounted for the largest market share in 2020, contributing to more than three-fourths of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the services segment is estimated to witness the fastest CAGR of 19.7% from 2021 to 2030.
Based on channel, the messaging segment contributed to the highest market share in 2020, accounting for more than two-fifths of the total market share, and is anticipated to dominate the mobile marketing industry during the forecast period. On the other hand, the quick response (QR) code segment is expected to manifest the fastest CAGR of 22.6% from 2021 to 2030.
Based on region, North America contributed to the highest share in 2020, holding nearly two-fifths of the total share, and is anticipated to maintain dominance throughout the forecast period. On the other hand, Asia-Pacific is anticipated to portray the fastest CAGR of 21.0% during the forecast period.
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Mobile marketing market comprises a significant number of players ranging from tier 1 to tier 3 companies, thereby creating a concentrated market scenario with the major players acquiring around 40-50% share. With the demand for such software on the rise, there is an intense competitive rivalry within the market scenario. This competitive scenario is estimated to create higher innovation within the product portfolio, including the integration of AI, machine learning, and analytics-based feature that is set to boost the product demand during the forecast period.
In March 2018, Nokia has unveiled the latest version of its cognitive analytics for customer insight software, providing powerful new capabilities so service provider businesses, IT and engineering organizations can consistently deliver a superior real-time and personalized customer experience.
Key players of the global mobile marketing market analyzed in the research include Airship, Acoustic, Vibes, Swrve, Adobe, Braze, Localytics, Oracle, Salesforce, and SAP.
Top Impacting Factors:
1. Growing Smartphone Penetration:
The rapid increase in smartphone users globally has significantly boosted mobile marketing opportunities. With more people accessing the internet through mobile devices, businesses can target audiences more effectively through apps, SMS, and mobile ads.
2. Advancements in Location-Based Services:
Location-based marketing technologies allow businesses to deliver personalized, real-time offers to users based on their geographic location. This enhances customer engagement and drives higher conversion rates.
3. Rise of Social Media and Mobile Apps:
Social media platforms and mobile apps are key channels for mobile marketing. Their widespread use enables brands to interact with customers directly, run targeted ad campaigns, and analyze user behavior to refine strategies.
Key Benefits For Stakeholders
- This study includes the mobile marketing market analysis, trends, and future estimations to determine imminent investment pockets.
- The report presents information related to key drivers, restraints, and mobile marketing market growth.
- The mobile marketing market size is quantitatively analyzed from 2020 to 2030 to highlight the financial competency of the mobile marketing industry.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in mobile marketing market.
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