The global market for mobile marketing 2020 can attain a size of approximately USD 102 Billion by 2023, evaluates Market Research Future (MRFR). After thorough research, MRFR concludes that the market holds the potential to achieve a growth rate of 22% between 2017 and 2023 (forecast period).
Market Boosters and Main Challenges
Global System for Mobile Communications Association (GSMA) anticipates that close to 75% of the total number of mobile users will be smartphone users by 2025-end. The fast-paced surge in the adoption of smartphones as well as tablets combined with the rising internet penetration in emerging countries like India and China can have a significant impact on the global market.
Geofencing has gained massive traction across industries, which is deemed to benefit the mobile marketing market in the following years. Moreover, with the rising proliferation of Artificial Intelligence (AI) as well as Augmented Reality (AR) within the retail sector for analyzing consumer behavior and sending notifications, the market growth is projected to get a tremendous boost in the coming years. The expanding pool of viewers that accesses Over the Top (OTT) content can give birth to a host of growth opportunities for digital enterprises in the years ahead.
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Some of the prominent e-commerce giants are making use of mobile marketing strategies in order to achieve a significant source of income and boost customer loyalty, which can help them expand their business within the global market.
The mobile marketing market has been studied extensively in the MRFR report and has been segmented by user-type, solution, and vertical.
The user types analyzed in the report are large enterprises, along with small & medium enterprises. Out of these, the large enterprise segment can seize the larger share in the market compared to its counterpart, on account of the rising adoption of mobile marketing strategies among large organizations in various industries. Large retail companies are increasingly adopting the latest technologies, such as AR and AI, to elevate the visual presentation of advertisements that help improve viewer engagement.
The solution segment comprises in-app messages, location-based marketing, mobile web, and mobile email.
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