DUBLIN--(BUSINESS WIRE)--The "Mobile Marketing Market by Component (Platform and Services), Channel, Organization Size (SMES and Large Enterprises), Vertical (Retail and Ecommerce, Travel and Logistics, Automotive, and Telecom and IT), and Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
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.
Increased use of mobile web and mobile applications, the popularity of mobile marketing with increasing mobile devices, high penetration of mobile users, and the growth of social media and advertising to drive the growth of the mobile marketing market
Increased use of mobile web and mobile applications, the popularity of mobile marketing with increasing mobile devices, high penetration of mobile users, and the growth of social media and advertising for enhancing mobile marketing are expected to drive the growth of the market across the globe. However, security and privacy concerns for confidential data and complications in the implementation of mobile marketing platform are expected to restrict the growth of the market across the globe.
Services segment to grow at the highest CAGR during the forecast period
The services segment is projected to grow at the highest CAGR during the forecast period. Services form an integral part of the mobile marketing life cycle. They assist in carrying out software functionalities, ranging from deployment to management, such as implementation and integration, training and consultation, product upgradation, and support and maintenance. The services segment of the mobile marketing market is expected to have a promising future due to various integration of marketing applications. Services help organizations in building successful customer relationships by continuously supporting them through their business tenure. They also benefit organizations by enhancing marketing project execution and streamlining marketing operations.
SMEs segment to lead the mobile marketing market in 2019
SMEs in all verticals and regions are now taking advantage of the current mobile technology. Several SMEs already have mobile sites and mobile applications, which make mobile marketing one of the most effective and economical marketing channels for them. They are now shifting from using traditional marketing to digital marketing, and a majority of their marketing expenditure now goes into digital marketing channels. The mobile marketing platform market in the SMEs segment is expected to gain traction in the years to come, as more vendors would come up with different mobile marketing platforms to cater to the demands of the SMEs.
Telecom and IT segment to grow at the highest CAGR during the forecast period
Mobile marketing solutions have been finding their way into the telecom and IT vertical for the last 10 years. Telecommunications companies use mobile marketing as a channel to communicate with their customers to enhance customer loyalty, increase brand awareness, and consistently generate revenue. SMS, MMS, and mobile emails have been widely used by telecom and IT vertical. Location-based marketing is also gaining traction in this vertical, as telecommunications companies now tend to send offers and promotions based on customers' location.
North America to lead the mobile marketing market in 2019
North America is estimated to be the largest market size contributor in 2019, and the trend is expected to continue during the forecast period due to the rapid adoption of mobile marketing platform and services among enterprises in this region. North America has been an early adopter and a host to innovative initiatives for advanced technologies. Moreover, there is a significant rise in automated marketing spending by organizations due to increasing competition faced by these organizations to achieve new customers, satisfy old customers, and retain these customers.
Most mobile marketing platform vendors, including the major players, such as Adobe, Airship, Braze, Swrve, and Oracle, have a direct or an indirect presence in this region via distributors, and resellers. The major mobile marketing vendors in North America have adopted several strategies to enhance their existing product portfolio and expand their presence in the mobile marketing market.
Key benefits of buying the report
- The report is expected to help the market leaders/new entrants in this market by providing them information on the closest approximations of the revenue numbers for the overall mobile marketing market and its segments.
- This report is also expected to help stakeholders understand the competitive landscape and gain insights to improve the position of their businesses and to plan suitable go-to-market strategies.
- The report also aims at helping stakeholders understand the pulse of the market and provide them with information on key market drivers, restraints, challenges, and opportunities.
Key Topics Covered:
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
2 Research Methodology
2.1 Research Data
2.2 Data Triangulation
2.3 Market Size Estimation
2.4 Market Forecast
2.5 Research Assumptions
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Market
4.2 Asia Pacific Mobile Marketing Market, By Component and Country
4.3 Market Major Countries
5 Market Overview and Industry Trends
5.2 Market Dynamics
5.3 Industry Trends
6 Mobile Marketing Market By Component
7 Mobile Marketing Market By Channel
7.3 Push Notification
7.4 Mobile Email
7.5 Quick Response Code
7.6 Location-Based Marketing
7.7 In-App Messaging
7.8 Mobile Web
8 Mobile Marketing Market By Organization Size
8.2 Small and Medium-Sized Enterprises
8.3 Large Enterprises
9 Mobile Marketing Market By Vertical
9.2 Retail and eCommerce
9.3 Travel and Logistics
9.5 Banking, Financial Services, and Insurance
9.6 Telecom and IT
9.7 Media and Entertainment
10 Mobile Marketing Market By Region
10.2 North America
10.4 Asia Pacific
10.5 Middle East and Africa
10.6 Latin America
11 Competitive Landscape
11.1 Competitive Leadership Mapping
11.2 Strength of Product Portfolio
11.3 Business Strategy Excellence
11.4 Key Players in the Market, 2019
12 Company Profiles
12.20 Netcore Solutions
For more information about this report visit https://www.researchandmarkets.com/r/uwgnou