Market analysis and insights
With a predicted CAGR of 18.5% from 2021 to 2030, the size of the global mobile marketing industry, which was estimated to be worth USD 11,003 million in 2021, would grow to USD 57.853 million by 2030.
Mobile marketing was significantly fueled by the expansion of mobile commerce. Mobile marketing tactics were required to reach and engage mobile customers as consumers made more transactions using their mobile devices.
Mobile Marketing Market Scope :
|Revenue forecast in 2030
|USD 57.853 million
|CAGR of 18.5 % during 2020-2030
|by Component, Channel, Organization Size, Vertical, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|AT&T INC., FACEBOOK, INC., ORACLE CORPORATION, INMOBI, SALESFORCE.COM, INC., GOOGLE LLC, SAP SE, MICROSOFT CORPORATION, and SAS INSTITUTE INC., ADOBE
Mobile marketing is the process of advertising products or services to niche audiences using mobile devices like smartphones and tablets.
It is a branch of digital marketing that efficiently reaches out to potential clients by utilizing mobile technologies and communication channels. Mobile marketing is becoming an essential part of contemporary marketing tactics due to the extensive usage of mobile devices and the rising popularity of the mobile internet. Businesses create their own mobile applications to give clients a more individualized and interesting experience. These programs can provide information, entertainment, or utility while also promoting the company's products or services. Businesses modify their websites for mobile devices to provide a comfortable browsing experience. Websites that are mobile-responsive change their design and content to match various screen sizes and resolutions.
Key market segmentation
Insights on Components
The Platform Segment Valued for the Highest Share
In terms of components, the platform segment accounted for the lion's share of the global mobile marketing market in 2021, and it is anticipated that it will maintain this position throughout the forecast period as more consumer needs and behavior research is needed to create effective product portfolios. One of the most prominent applications of this business model is the rise in demand for services like online food delivery, transportation, and a variety of others where technological integration is a key factor.
Insights on Industry
The retail and e-commerce segments are valued for their highest share.
Industry-wise, the retail and e-commerce sectors led the mobile marketing market in 2021 and are anticipated to do so over the forecast period due to the development in consumer traction supported by an enormous expansion in the number of mobile users. A solid foundation has been created for improving consumer behavior and expectations by integrating chatbots and voice assistants into the business model in the retail industry. But because of the increased demand to close the gap between consumers and companies, the healthcare sector is expected to develop at an enormous rate.
Insights on the Region
The North American Region accounted for the highest share.
It is anticipated that throughout the projection period, North America will continue to have the largest mobile marketing market. The use of cutting-edge technology in the region's advertising industry, together with the presence of large technology suppliers with cutting-edge equipment, is what fuels the market's expansion. The expansion of the market is driven by the rise in smartphone and Internet usage as well as the number of consumers who rely on reviews and other people's buying experiences.
Key Company Profiles
AT&T INC., FACEBOOK, INC., ORACLE CORPORATION, INMOBI, SALESFORCE.COM, INC., GOOGLE LLC, SAP SE, MICROSOFT CORPORATION, and SAS INSTITUTE INC., ADOBE are a few key players in the mobile marketing market.
COVID-19 Impact and Market Status
People spent more time at home and extensively depended on mobile devices for work, communication, entertainment, and shopping when lockdowns and limitations were in place.
This increase in mobile device usage gave marketers additional chances to connect with customers through mobile channels. Due to the epidemic, several firms switched their marketing spending from conventional channels like events, out-of-home advertising, and print media to digital ones, including mobile marketing. The market for mobile advertising has become more competitive as a result of this change. E-commerce expanded more quickly as a result of the epidemic as more people resorted to internet shopping for their necessities. Reaching and interacting with mobile customers throughout their online buying experience was greatly aided by mobile marketing. During the epidemic, mobile app usage significantly increased, particularly for communication, productivity, and entertainment apps. Similar to this, the popularity of mobile gaming increased. To target consumers inside these applications and games, mobile marketers modified their techniques.
1. The popularity of watching videos on mobile devices was being tapped upon by advertisers. Platforms like TikTok, Instagram, and YouTube were becoming more and more popular as viable options for engaging mobile audiences with short-form videos, tales, and live streaming.
2. In order to give their consumers engaging and immersive mobile experiences, brands were investigating AR and VR technologies. These technologies opened up new channels for mobile marketing, from VR-based virtual tours and games to AR filters and product try-on experiences.
3. User data was being used by marketers to create more individualized and focused mobile marketing efforts. The use of personalization included things like location-based discounts, specialized information, and personalized product suggestions.
4. Mobile wallets were becoming a cutting-edge marketing medium as mobile payment methods gained wider use. Users were given additional convenience and incentives through loyalty programs, mobile coupons, and special offers that were sent through mobile wallets.
5. Organizations were using chatbots powered by AI to interact with customers on websites and messaging applications. Through conversational interfaces, chatbots provided real-time assistance, responded to questions, and even conducted transactions.
6. As the popularity of voice search grew, marketers began to concentrate on optimizing mobile content for voice searches. Siri, Google Assistant, and Alexa are just a few examples of voice-activated assistants that have changed the way people use their mobile devices to look for information, goods, and services.
Significant Growth Factors
Global smartphone and mobile device use has created a sizable user base for mobile marketing. The potential audience for mobile marketing campaigns grew as more individuals used their mobile devices to access the internet and engage in various activities.
Mobile marketing was significantly influenced by the rise in mobile internet usage. Consumers increasingly use their cell phones for online activities like social networking, shopping, and entertainment as mobile internet connections become quicker and easier to access. Mobile marketing now has more options because of the growing popularity of mobile apps. Businesses might advertise on well-known mobile applications or utilize their own branded apps to attract consumers, increasing engagement rates and providing more precise marketing options.
Marketers were able to provide customized and location-specific content and offers thanks to the incorporation of location-based services into mobile devices. Contextual marketing in this way increases efficacy and relevance.
Marketers were able to provide tailored content and advertisements based on user behavior, preferences, and location thanks to the quantity of data that mobile devices made available. Personalization improved user experiences and raised conversion rates.
Concerns about data security and privacy pose serious obstacles to mobile marketing. As consumers became more aware of how their data was being gathered and utilized for marketing, there was increasing scrutiny and regulatory action.
Mobile ad efficacy was decreased by ad-blocking software, which had an influence on ad visibility and engagement. Marketers have to come up with helpful and unobtrusive methods to engage people. As the market for mobile marketing grew more cutthroat, some platforms got overrun with advertisements. To differentiate themselves from the competition, marketers have to create engaging and imaginative campaigns. It was difficult to guarantee uniform user experiences across all mobile devices because of the large range of operating systems, screen sizes, and mobile devices. It was necessary for mobile marketers to adapt their campaigns for different platforms and devices.
The integrity of campaign analytics and ROI assessment in mobile advertising was compromised by ad fraud issues, such as phone clicks and impressions. Due to the small screen size of mobile devices, marketers needed to produce content that was both brief and interesting in order to effectively grab consumers' attention. A smooth and user-friendly experience was necessary for mobile marketing. Users may become frustrated and leave mobile websites and applications that are not properly optimized.
Recent Developments in the Global Mobile Marketing Market: A Snapshot
• A cooperation for cutting-edge AI research was announced by IBM and MBZUAI in May 2022. This partnership seeks to use AI to further environmental goals, the healthcare industry, and natural language processing, which will include Arabic.
• The acquisition of Mandiant, Inc. by Alphabet, Inc. was disclosed in March 2022. Google Cloud will be able to strengthen its current security posture thanks to this purchase.
• The goal of the partnership agreement between IBM and Amazon Web Services (AWS), which was signed in May 2022, is to supply IBM SAS on AWS, giving users rapid and simple access to the program.