Mobile Marketing Market Future Trend, Demand, Supply, Sales & Revenue Analysis 2024
(I-BusinessNews.Com, April 27, 2022 ) The global mobile marketing market size is expected to grow from USD 10.5 billion in 2019 to USD 25.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 18.9% during the forecast period. The major factors driving the growth of the mobile marketing market include the popularity of mobile marketing with increasing mobile devices, high penetration of mobile users, growth of social media and advertising, and increased use of mobile web and mobile applications.
Major mobile marketing vendors include Airship (US), Swrve Inc. (US), Vibes (US), Braze, Inc. (US), Adobe (US), Acoustic, L.P. (US), Localytics (US), Oracle (US), Salesforce (US), SAP (Germany), Marketo (US), Pyze Inc. (US), FollowAnalytics (US), Xtremepush (UK), IMI Mobile Private Limited (UK), MoEngage (UK), Punchh (US), Sailthru (US), Leanplum (US), and Netcore Solutions (India). These market players have adopted various growth strategies, such as partnerships, agreements, and collaborations, and new product launches, to expand their presence in the mobile marketing market. New product launches and product enhancement have been the most adopted strategies by major players from 2016 to 2019, which helped companies innovate their offerings and broaden their customer base.
SMEs segment to lead the mobile marketing market in 2019
Based on organization size, the SMEs (Small and Medium Enterprises) segment is projected to lead the mobile marketing market during the forecast period. SMEs in all verticals and regions are now taking advantage of the current mobile technology. Several SMEs already have mobile sites and mobile applications, which make mobile marketing one of the most effective and economical marketing channels for them. They are now shifting from traditional marketing to digital marketing and a majority of their marketing expenditure now goes into digital marketing channels. Marketing through SMS is one of the most cost-effective channels available to the SMEs and is being widely adopted in this user segment. Location-based marketing is another opportunity for SMEs to reach the targeted audience at the right time and place.
APAC mobile marketing market to grow at the highest rate during the forecast period
Based on region, the APAC (Asia Pacific) region is growing at a fast pace, as enterprises in the region are rapidly adopting the mobile marketing platform and services to provide an enhanced customer experience. The BFSI (Banking, Financial Services and Insurance), retail and consumer goods, and media and entertainment industries are widely adopting the mobile marketing platform to enhance their marketing activities. The social media marketing application is expected to grow at the highest CAGR due to internet and smartphone penetration in APAC. Furthermore, the growing companies in this region need mobile marketing platform that can assist them in accelerating their marketing activities, tracking and reporting marketing campaigns, and generating more leads. Therefore, mobile marketing platform vendors are looking toward APAC as a high growth area for offering mobile marketing platform.
This research report categorizes the mobile marketing market to forecast revenues and analyze trends in each of the following submarkets:
Based on Component
Mobile Marketing Market Based on Channel
Quick Response (QR) Code
Based on Organization Size
Small and Medium Enterprises (SMEs)
Mobile Marketing Market Based on Vertical
Retail and eCommerce
Travel and Logistics
Telecom and IT
Media and Entertainment
Others (includes energy, education, real estate, and utilities and power)
Based on Region
Rest of Europe
Rest of APAC
Rest of MEA
Rest of Latin America
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