Mobile Marketing Market size is expected to reach $200 billion in next 5 Years

0
224

Mobile marketing is one of the key marketing strategies for the promotion of products and services adopted by organizations nowadays. It also helps companies eliminate paper costs and identifies quick and convenient ways to interact with customers. Furthermore, mobile marketing enables new and innovative advertising methods to be integrated with the same marketing strategies to increase their impact on target users and approachability.

A growing use of geo fencing technology across different industries is estimated to increase the market over the forecast period. Moreover, in order to understand the consumer behavior and send notifications, the increased use of Artificial Intelligence (AI) and Augmented Reality (AR) in the retail industry is estimated to propel the market over the same period. In addition, a rapidly expanding number of viewers accessing Over The Top (OTT) content in the coming years will likely create significant digital business opportunities.

Based on Solution type, the market is segmented into Mobile Web, MMS, QR Codes, Location Based Marketing, in app Messages & Push Notifications, SMS, and Others.

Based on Organization size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End user, the market is segmented into Retail & E-Commerce, Telecom & IT, Travel & Hospitality, BFSI, Government, Healthcare, Media & Entertainment, and Other End User. One of the main trends in the segment’s growth is the rise of e-commerce retailers, combined with rapidly evolving e-commerce consumer preferences as they offer several advantages such as ease of delivery and the accessibility of a range of products. In addition, the segment is expected to witness the highest CAGR over the forecast period, because the location-based service in the retail sector is being implemented rapidly in order to offer an enhanced consumer shopping experience. In-app marketing by banks is estimated to fuel the growth of the BFSI segment over the predictive period with a view to supplying tailored products and service-related contents directly to consumers’ devices.

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.