Mobile Marketing Market is expected to grow to US$ 91 billion by 2032 - Persistence Market Research
NEW YORK, May 11, 2022 /PRNewswire/ -- The global mobile marketing market is likely to reach a valuation of US$ 68.56 Bn by 2032 from US$ 15.34 Bn in 2022, rising at a strong CAGR of 18.1% throughout the forecast period.
The rising number of mobile customers preferring online shopping while going through omnichannel to make themselves aware of the product and services is fuelling the growth of the mobile marketing market. Businesses use the mobile web and mobile applications related to their product or service for marketing it amongst the masses.
High penetration of smartphones, better network bandwidths and easy shopping is pushing businesses to take their marketing strategy online, listing it online, tracking the progress through dimensions and traffic, analyzing the data and lastly, improving the marketing approach.
Advertising and PR companies are also focusing on decoding the multiple algorithms of various social media platforms in order to promote products and services there while using tools like chatbots, 3D modelling, push recommendations and assistants.
With the help of AI and Predictive search, the businesses sense the customer behaviour and then hit them with a specific marketing campaign that fulfils their demands, enhancing the end-user experience and increasing the sales of their product or service.
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The use of social media marketing (SMM), along with website monitoring and search engine optimization, provide business with an overall idea of running marketing campaigns such as Facebook marketing campaigns, Email Marketing campaigns.
Mobile marketing helps brands in reaching the masses as it is a convenient way to market your products and services in the global market space. The latest mobile marketing trends include Instagram marketing, Facebook marketing, Video marketing and LinkedIn Marketing.
Key Takeaways
- Platform segment is the most lucrative segment in the mobile marketing market's component category and is likely to hold the biggest share during the forecast period, owing to the rising customer behaviour analysis requirements along with platform integration. Though
- Service segments also expand their market presence as various market platforms integrate to compete in the highly competitive marketing scenario.
- By Industry, retail and e-commerce are likely to gain the most traction in the forecast period as their growth is attributed to high mobile phone penetration and the paradigm shift of mobile users from offline shopping to online shopping in recent times.
- Small and medium enterprises (SMEs) are the biggest segment by organization size in the mobile marketing market, attributing to the high return of investment (ROI) and its shift from traditional marketing to web and mobile marketing.
- As IT and Marketing spaces expand their roots in emerging economies like India and China, the mobile marketing market also has its major share in the Asia-Pacific region. The factors behind the excessive growth of this market in the region are 4G/5G deployments, E-commerce giants investing huge capital and increasing awareness of mobile marketing amongst businesses.
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Competitive Landscape
The mobile marketing market is very vast and has a lot of potential for businesses and their components. SAP, Adobe, Swrve, Vibes, Braze, Acoustic, Oracle, Salesforce, Localytics and Airship are some of the major companies.
Vendors focus on integrating their platform with the latest tech like AI, increasing their R&D spending, getting involved in partnerships and acquisitions, and other growth tactics to be active in the competition.
Recent Developments
- SAP has introduced its mobile app integration platform that tracks the user dimensions such as user opening or viewing any notification pushed by the business. This way, it enhances and increases the conversion probability.
- Oracle has extended its mobile marketing services such as cross channel orchestration, effective mobile communication strategy and personalized marketing experiences.
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