Mobile Marketing Market has experienced exponential growth, driven by increasing demand, with a CAGR of 18.3%
Mobile Marketing Markets
Growing complexities involved in the integration of electronic data interchange and data sync are expected to hamper the market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, July 19, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “Mobile Marketing Market by Component, Channel, Platform, Organization size and Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030,” the global Mobile Marketing market size was valued at $11,000 million in 2020, and is projected to reach $57,850 million by 2030, registering a CAGR of 18.3% from 2021 to 2030.
Mobile marketing is a multi-channel online marketing technique focused on contacting a specific audience on their smartphones, feature phones, tablets, or any other related devices through websites, E-mail, SMS and MMS, social media, or mobile applications.
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Global mobile marketing market scenario is primarily driven by the factors such as the increasing popularity of on-demand business model; increasing adoption of omnichannel shopping experience and the need for personalization within the consumer behavior has mandated the companies to adopt strategic initiatives that would boost the overall product sales, thereby creating a higher profit margin. However, complexities in integrating electronic data interchange and data synchronization and bias issue within the operational data is estimated to hinder the overall market growth. With AI becoming a core part of the technology, its integration within the software is set to create meaningful insights for various business structures creating higher profit margins Furthermore to this, expanding cloud-based business model is set to create a lucrative opportunity for the Mobile Marketing market during the forecast period.
The global mobile marketing market share was dominated in 2020 by platform segment and is estimated to maintain its dominancy during the forecast period, as there is an increase in need for analyzing the customer requirement and behavior for creating a successful product portfolio. Increase in demand for online food delivery, transportation, and various other services, where technology integration also plays a significant role are some of the major causes of this business model. With this model gaining rapid demand, the need for all one platform integration tool is set to drive the market growth during the forecast period.
However, the service-based segment is set to achieve lucrative growth, backed by the increase in popularity of multi-channel platforms with mobile platforms creating a strong base for the overall market growth.
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Based on industry, the retail and e-commerce sector dominated the mobile marketing market in 2020and this trend is expected to continue during the forecast period, owing to growing consumer traction backed by colossal growth in the number of mobile users. Integration of chatbots and voice assistants within the business model in the retail sector has provided a strong base for enhancing customer behavior and requirements.Thus, the scope of software would increase in a double fold manner, giving a higher CAGR growth structure.
Post COVID-19, size of the Mobile Marketing market forecast is estimated to grow from $12,732 million in 2021 and projected to reach $57,859 million by 2030, at a CAGR of 18.3%.
The current COVID-19 scenario is projected to have a higher positive impact, with the emergence of strict social distancing measures, the business has transitioned their performance over the online channel creating a higher surge for consumer personalization and needs, thereby creating a strong demand for mobile marketing. With this trend being followed for various other industries including BFSI, public & government, healthcare, retail, and others, the demand for customer engagement, retention, and loyalty is estimated to have a positive correlation, thereby creating a strong factor for the growth of mobile marketing market analysis.
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Key Findings Of The Study
1. Based on components, in 2020 the platform segment dominated the Mobile Marketing market size. However, the services segment is expected to exhibit significant growth during the forecast period.
2. Based on channel, the messaging segment accounted for the highest revenue in 2020 during the forecast period.
3. Based on organization size, the SME segment accounted for the highest revenue in 2020, however, the large enterprise segment is expected to witness highest growth rate during the forecast period.
4. Based on industry, the retail and e-commerce segment accounted for the highest revenue in 2020, however, the healthcare segment is expected to witness highest growth rate during the forecast period.
5. Based on region, the Mobile Marketing industry was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the upcoming years.
Some of the major companies operating in the mobile marketing industry are Airship, Swrve, Vibes, Adobe, Braze, Acoustic, Localytics, Oracle, Salesforce, SAP.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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