Mobile Marketing Market Growth, Opportunities Business Scenario, Share, Growth Size, Scope, Key Segments and Forecast to 2024
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.
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By component, the platform segment to lead the mobile marketing market during the forecast period
Mobile marketing platform are software solutions that are tailored for the specific marketing needs of customers. This platform provides unique insights into the personal behaviors of customers. For example, personalized push notifications and targeted advertisements provide a more user-friendly alternative to generic ads and message blasts. These marketing tools help marketers and developers make decisions by collecting invaluable data on their target audiences and using this data to optimize campaigns. The mobile marketing platform offers not only automation tools but also an integrated analytics solution that provides deeper insights into customer behavior. Nowadays, marketers across industries have started utilizing mobile marketing platform to understand customers’ journey, measure the effectiveness of their marketing campaigns, and generate maximum leads.
By organization size, large enterprises segment to grow at the highest rate during the forecast period
Mobile marketing has been gaining traction in large enterprises as they now look to reach a new and larger audience and build stronger brand value. It offers enterprises a great opportunity to market their products through mobile campaigns and cross-channel marketing. The integration of analytics with mobile marketing solutions helps enterprises gather data through applications, social media, and other sources and analyze the gathered data to reach the target audience with the right content. A majority of the large enterprises now have mobile websites and mobile applications, and mobile marketing solutions, such as in-app messages and push notifications, which offer them the opportunity to enhance application engagement. Location-based marketing offers an innovative channel for enterprises to reach their target customers.
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Unique Features in the Mobile Marketing Market
Campaigns with a high degree of personalisation are possible with mobile marketing. Marketers are able to send customised messages and offers by utilising data, including user location, browsing history, app usage, and purchase behaviour.
Delivering location-based adverts is one of mobile marketing’s main advantages. Businesses may target customers with pertinent incentives and information when they are close to a particular site, such a retail store or event venue, thanks to geofencing and beacon technology.
Customers can receive direct messages from mobile marketers via SMS (Short Message Service) and MMS (Multimedia Messaging Service). These techniques can be utilised for time-sensitive notifications, alerts, and promotions because they have high open rates.
Mobile application advertisements give advertisers the opportunity to connect with consumers while they are using their favourite apps. This comprises interactive, video, and banner advertisements that can offer a smooth user experience.
By sending users’ mobile devices timely messages, push notifications are a very effective way to engage people. These alerts have the power to promote app engagement, reveal upcoming features, and notify users of exclusive deals.
Major Highlights of the Mobile Marketing Market
Due to the growing popularity of smartphones, ubiquitous internet connectivity, and the increasing significance of mobile devices in daily life, the mobile marketing market is growing quickly.
When compared to traditional marketing tactics, mobile marketing channels including SMS, push notifications, and in-app advertising have higher engagement rates. Because they are always on, mobile devices are a useful tool for instantaneous customer communication.
Marketers can deliver highly targeted and relevant adverts based on consumers’ geographic locations by utilising location-based services. Local marketing initiatives are strengthened and foot traffic to actual stores is increased by using strategies like geofencing and beacon technology.
Since mobile devices account for a large amount of user interaction on social media sites, mobile marketing is closely linked with these platforms. Effective mobile marketing strategy must include influencer relationships, social media ads, and mobile-friendly content.
Using user information like location, preferences, and behaviour enables highly tailored marketing communications. Both the user experience and conversion rate are improved by this personalisation.
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Top Companies in the Mobile Marketing Market
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.
Airship (US) is one of the leading vendors in the mobile marketing market. Currently, the company offers a mobile application engagement solution that provides push messages, which act as a mobile messaging channel to deliver useful information to customers. For instance, in November 2019, Airship launched Airship Journeys, a new visual interface that makes customer engagement simpler and effective for the marketer. Airship Journeys combines the power of visual sequencing and cross-channel branching with glanceable views of goal-based performance to make it easy for marketers to create, manage, and adopt customer engagement paths quickly.
Swrve (US) is another leading mobile marketing platform and services provider across the globe. The company’s mobile engagement platform enables enterprise organizations to deliver compelling mobile experiences and campaigns that drive engagement, revenue, and RoI (Return on Investment). The company is focusing on both organic and inorganic growth strategies to improve the mobile marketing market. For instance, in June 2019, Swrve partnered with Uken Games, a leading social and mobile-gaming studio based in Canada, to make use of Swrve’s platform to optimize in-app experiences based on user feedback, increase in-app purchases, and deliver hyper-relevant messaging throughout the gaming experience. In June 2017, Swrve upgraded its mobile engagement tools that empower marketers to deliver highly personalized email campaigns based on sophisticated mobile intelligence.
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