NEWARK, Del, Jan. 01, 2024 (GLOBE NEWSWIRE) -- The mobile marketing market is expected to generate US$ 184.5 million in 2024. According to projections, the market will be worth US$ 1,440.9 million in 2034. Between 2024 and 2034, the market is projected to exhibit a CAGR of 22.8%.
Smartphones are widely used by businesses for mobile marketing to deliver customized, time-based, and location-based information to customers. This approach outperforms contacting current customers by generating leads, increasing sales, and increasing brand awareness. Mobile advertising is an effective way of introducing new products and promoting in-store sales, since many people search for products on their phones. The accessibility of local marketing campaigns increases the likelihood of individuals purchasing goods and services.
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As mobile devices grow exponentially, the number of mobile users will surpass 7 billion by 2025. The Global System for Mobile Communication Association (GSMA) predicts that in 2025, nearly 75% of users will own smartphones. Mobile marketing will become more popular with the proliferation of mobile devices and internet penetration. Mobile marketing incorporates multiple digital marketing channels to reach targeted audiences, such as SMS/multimedia messaging, social media, and social media marketing. With several ad-formation options, mobile marketing offers a range of digital marketing opportunities.
As 5G introduces faster download speeds, boosts communications, and supports new games and apps for augmented reality and virtual reality, the mobile industry is experiencing rapid transformation. Mobile marketers to promote their products are using videos and short educational videos. Using real-time location analytics to target customers and prospects is not new. Businesses in the local community increasingly recognize the value of targeting the local community. Developers are constantly developing new applications and features that allow marketers to engage with their audiences in innovative and creative ways.
Key Takeaways
- With 65% of the total value share in 2024, large enterprises will remain the leading value shareholders in the mobile marketing market.
- With a 22% market share, the mobile web segment will dominate mobile marketing by 2024.
- Mobile marketing in the United States is predicted to increase at a CAGR of 20.7% over the forecast period.
- As smartphone sales in China continue to rise, the market will increase by 23.3% CAGR over the forecast period.
- With a CAGR of 22%, the demand for mobile marketing has increased in Australia over the forecast period.
“Mobile marketing will become a huge industry with the rise of smartphones and the integration of new technologies in the market. With the advent of digital marketing and high-speed Internet, demand for mobile marketing has increased,” opines Sudip Saha, managing director at Future Market Insights (FMI) analyst.
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Market Competition
Market players have adopted various strategies to gain a larger share of the mobile marketing market. Several strategies are employed by major players in the industry, including product launches, acquisitions, and joint ventures.
Key Developments
- In September 2023, Jampp released a StoreKit Ad Network guide for app marketers to measure campaigns on iOS devices. With Apple's SKAdNetwork, advertisers have access to ad measurement and insights without having access to user data.
- In November 2023, SplitMetrics, an international app growth company, acquired App Radar, an Australian app marketing and analytics company, for an all-cash price of seven figures. Through the acquisition, SplitMetrics will become the leading AI platform in the industry, providing paid user acquisition, optimizing app store listings, and analyzing data. Over 1,000 customers are served by SplitMetrics and App Radar across Europe, the United Kingdom, North America, and Asia.
Key Companies Profiled
- 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.
- SAS Institute Inc.
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Mobile Marketing Market Segmentation
By Enterprise Size:
- Large Enterprises
- Small & Medium Enterprises
By Solution:
- Mobile Web
- SMS
- Location-Based Marketing
- In-App Messages
- Push Notifications
- QR Codes
- MMS
- Others
By End Use:
- Retail
- Media & Entertainment
- Travel
- Automotive
- Healthcare
- IT & Telecom
- BFSI
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia and Pacific
- East Asia
- Middle East and Africa
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client's requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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