Mobile Marketing Market Outlook 2031:
The global mobile marketing market size was valued at USD 15.39 Billion in 2022 and is projected to reach USD 69.48 Billion by 2031, expanding at a CAGR of 18.3% during the forecast period 2023 - 2031.The growth of the market is attributed to the increasing adoption of smartphones and tablets.
Mobile marketing refers to the multichannel digital promotion of products or services using mobile devices, smartphones, tablets, and networks using email, SMS and MMS, social media, websites, and apps.
According to a study by the Global System for Mobile Communications Association (GSMA), around 75% of total mobile users are expected to use smartphones by 2025. The rising adoption of smartphones and tablets along with huge internet penetration in emerging countries including China and India are helping the market growth.
Mobile marketing is a major digital marketing strategy, which is adopted by several organization for promotion of their products and services. It aids organization for fast and convenient interaction with target customers besides eliminating the use of paper and its costs.
The mobile marketing allows mixture of novel and innovative methods of advertisement for increasing impact and approachability towards the targeted customers. As per different surveys by several companies, more than 90% of youths are using smartphones for accessing content and information while around 50% of smartphone users use mobile internet for search engines access.
From mobile applications, data is processed and analyzed by organizations to understand consumer preferences and behavior. Companies use this large volume of data for advertising their products and services to attract targeted customers.
For mobile application marketers, the use of geofencing is an easy way to take benefits of location-based marketing (LBM), which helps organizations for effective campaign strategies to increase sales.
Mobile Marketing Market Trends, Drivers, Restraints, and Opportunities
- Growing demand of smartphones and increasing adoption of geofencing are major factors that are responsible for propelling the mobile marketing market growth.
- Rapid rise in the number of viewers for accessing Over the Top (OTT) content is a key factor that helps boost the market.
- Increasing investment in mobile advertising and growth of social media with attractive advertising designs are projected to fuel the market expansion during the forecast period.
- High penetration of mobile users, increasing usage of mobile web and mobile applications, and rising popularity of mobile marketing are expected to drive the mobile marketing market growth during the forecast period.
- Rising proliferation of artificial intelligence (AI) and augmented reality (AR) in the retail sector for understanding consumer behavior is estimated to push the mobile marketing market growth of the market.
- Stringent government regulations, sheer size of the market, and lack of attribution transparency are major factors expected to hamper the market growth in the coming years.
- Rising adoption of ad-block software by smartphone users is projected to impede the mobile marketing market expansion in the coming years.
Scope of Mobile Marketing Market Report
The report on the global mobile marketing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Mobile Marketing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
2016 – 2021
2023 – 2031
Enterprises Sizes (Large Enterprises and Small & Medium Enterprises), Solutions (Mobile Web, SMS, Location-based Marketing, In-app Messages, Push Notifications, Quick-response Codes, MMS, and Others), End-users (Retail, Media & Entertainment, Travel, Automotive, Healthcare, IT & Telecom, BFSI, and Others)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
IBM Corporation; Alphabet Inc. (Google); InMobi; Millennial Media; Marketo (Adobe Inc.); Amobee, Inc. (Singapore Telecommunications Ltd); Flurry, Inc.; Salesforce.com, Inc.; Oracle Corp.; Chartboost, Inc.; and SAS Institute Inc.
Mobile Marketing Market Segment Insights
Small & medium enterprises segment is expected to expand at a rapid pace
In terms of enterprises sizes, the mobile marketing market share is bifurcated into large enterprises and small & medium enterprises (SMEs).
The large enterprises segment is expected to account for a key share of the market during the forecast period due to increasing adoption of mobile marketing strategies across several industries. Large retail businesses are implementing novel technologies such as AI and AR for improving visual presentation of advertisements, which results in enhancement of viewer engagement. The increasing production of smartphones coupled with rising inclination of consumers towards smartphones is anticipated to drive the segment growth.
However, the small & medium enterprises segment is anticipated to expand at a rapid pace during the forecast period. These companies are implementing several marketing strategies and are opting mobile marketing strategy to ensure fastest way of communication with customers.
Mobile marketing aids small & medium enterprises for creating brand awareness and increasing sales by encouraging customer loyalty. Huge number of start-ups are largely investing in digital marketing for generating awareness about products and services among consumers. Therefore, significant increase in number of start-ups in emerging countries and rising investment in digital marketing are projected to fuel the segment growth.
QR codes segment is projected to hold a key market share
On the basis of solutions, the mobile marketing market share is divided into mobile web, SMS, location-based marketing, In-app messages, push notifications, quick-response codes (QR Codes), MMS, and others.
The QR codes segment is expected to account for a key share of the market during the forecast period due to its various benefits such as they are more affordable as compared to other solutions. QR codes are images that are decoded using special built-in readers present in tablets and smartphones. QR codes are found in many places such as social media apps and newspapers.
It is easily trackable, two-dimensional codes which contains huge information, and appeal to people’s curiosity. These factors are anticipated to fuel the segment expansion.
On the other hand, the mobile web segment is anticipated to expand at a rapid pace during the forecast period due to huge number of smartphone users regularly accessing mobile search engines.
According to the Global GSMA, the adoption of smartphone globally was around 60% in 2018 and in estimated to increase by 80% at the end of 2026. Moreover, huge investment by companies for promotion of products and services through mobile search engines is expected to boost the segment growth.
Retail segment is anticipated to expand at a rapid CAGR
Based on end-users, the mobile marketing market share is segmented into retail, media & entertainment, travel, automotive, healthcare, IT & telecom, BFSI, and others. The retail segment is expected to account for a key share of the market in the coming years owing to increasing implementation location-based services in the market.
Growing number of e-commerce retailers and fast evolving consumer buying preferences for e-commerce due to its advantages such as availability of a wide range of products and ease of delivery are projected to fuel the segment growth.
However, the BFSI segment is anticipated to expand at a rapid pace during the forecast period due to increasing adoption of in-app marketing in banks for giving tailored products and services associated content directly to consumers’ devices.
North America is expected to dominate the market
On the basis of regions, the mobile marketing market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa.
North America is anticipated to dominate the market CAGR during the forecast period. The regional market growth can be attributed to availability of huge large number of mobile marketing service providers and increasing percentage of smartphone penetration.
Moreover, the significant rise in usage of OTT content is anticipated to drive the regional market growth. Additionally, increasing awareness about mobile marketing among companies and huge investment in telecom network development are projected to propel the regional market growth.
However, the market of Asia Pacific is expected to exhibit a rapid growth rate in the coming years owing to increasing number of mobile internet users in the region. Based on GSMA’s report, Asia Pacific represented around 2 billion internet users in 2018.
The global mobile marketing market has been segmented on the basis of
- Large Enterprises
- Small & Medium Enterprises
- Mobile Web
- Location-based Marketing
- In-app Messages
- Push Notifications
- Quick-response Codes (QR Codes)
- Media & Entertainment
- IT & Telecom
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- IBM Corporation
- Alphabet Inc. (Google)
- Millennial Media
- Marketo (Adobe Inc.)
- Amobee Inc. (Singapore Telecommunications Ltd)
- Flurry Inc.
- Salesforce.com Inc.
- Oracle Corp.
- Chartboost Inc.
- SAS Institute Inc.
Key players competing in the mobile marketing market are IBM Corporation; Alphabet Inc. (Google); InMobi; Millennial Media; Marketo (Adobe Inc.); Amobee, Inc. (Singapore Telecommunications Ltd); Flurry, Inc.; Salesforce.com, Inc.; Oracle Corp.; Chartboost, Inc.; and SAS Institute Inc.
Some of these major market players are adopting several business strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance, Amobee Inc. was acquired by Singapore Telecommunications Ltd. with the aim to diversify the business operation and increase its overall market presence.