The global mobile marketing market is expected to grow at a CAGR of over 25%, during the forecast period (2018 – 2023). The scope of the report is limited to solutions offered by various market players from various end-user sectors including retail, telecommunication, travel & logistics, education, automotive, broadcast & media. The regions considered under the scope of the report include Asia-Pacific, North America, Europe, South America, and Middle East & Africa.
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Mobile marketing is the coherent multichannel promotion of products or services through mobile phone, devices, smartphones, and networks. Mobile marketing channels are the fastest growing mean to connect with the audience since customers check text messages more frequently than emails and as per a report by Marketo, approx. 97% of the text messages are read within 4 minutes of being sent. Hence, each message sent can be highly targeted with a higher response rate than any other means of communication.
Retail Sector to Dominate the Mobile Marketing Market over the Forecast Period
Mobile has already started to have a major impact on the retail industry and is increasing day-by-day. Consumers heavily rely on the mobile applications that are available on their devices to compare product prices, check the availability of the product at a store or just request to pick up a purchase from a store. Today, there are numerous retail mobile phone apps being developed to streamline their shopping experience through different marketing and promotional strategy.
Mobile Marketing Market
According to research conducted by Statistica, in 2016, the number of mobile apps that were downloaded was around 2.52 billion, and this figure is expected to reach 268.69 billion by 2020. With respect to the retail industry, studies have indicated that the use of retail store apps varies concerning the device available to the user.
Asia-Pacific to Hold the Highest Market Share Region in the Mobile Marketing Market
The APAC region is expected to be the largest revenue generator region for mobile marketing vendors during the forecast period, followed by North America. The market growth in developing countries of Asia-Pacific regions can be accounted for the enhancements in network connectivity, increasing number of unique mobile subscribers, growing 3G and 4G network, and increasing awareness among enterprises. The major vendors have adopted different types of organic and inorganic growth strategies such as new product launches, partnerships and collaborations, and mergers and acquisitions to expand their offerings in the mobile marketing market in the region. The mobile commerce segment is expected to witness the highest growth rate among solutions in this region, as this form of online advertisement is probably cheaper than using other advertising tactics.
Notable Developments in Mobile Marketing Market
April 2018: InMobi’s exclusive partnership with Airtel TV brings premium OTT audiences to Indian brands during cricket season and beyond. With 350+ TV channels, 10000+ Movies, TV shows and originals, in addition to integrations with Hotstar, Amazon Prime, ErosNow, Hooq, Fastfilmz, Alt Balaji and more, Airtel TV was India’s most downloaded Video OTT app in the first two months of 2018.
February 2018: GroundTruth, the leading global technology platform driving offline visits and sales by leveraging location as the primary source of intent, announced GroundTruth Ads Manager, the industry’s first end-to-end self-serve platform for mobile location-based advertising
Major Players: GOOGLE INC., FACEBOOK INC., OPENMARKET, INC., MICROSOFT CORPORATION (BING), TWITTER INC., APP PROMO, INMOBI TECHNOLOGIES PRIVATE LIMITED, AT&T, INC., ADCOLONY, INC., PINTEREST, INC., GROUNDTRUTH, INC., APPENCY, INC., COMBOAPP, INC., PHONEVALLEY S.A., YODEL, INC., MOZOO MOBILE GROUP, OATH INC. (MILLENNIAL MEDIA), CHARTBOOST, INC., MOPUB INC., AMOBEE, INC., MOBIO TECHNOLOGIES INC., PREAPPS, LLC, and GOMEEKI PTY LIMITED, amongst others.
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This post was originally published on Chief Analyst