Fierce Competition Poised to Bring Increased Attention to the Mobile Marketing Market, says Market.us

Mobile marketing is a key strategy for digital marketing that organizations use to promote their products or services. Mobile marketing is a cost-effective way for organizations to reach their customers and reduce paper waste. This allows for the integration of innovative advertising methods with the same marketing strategies, thereby increasing their reachability and impact on target users. 

Numerous surveys have shown that over 90% of youth use smartphones to find information and content. Nearly 49% of smartphone owners access search engines via mobile internet. These factors will create opportunities for key players in the mobile marketing market to grow.

According to Market.us’ research, The global mobile marketing market is estimated to reach USD 363.4 billion in 2033. It will grow at a compound annual rate (CAGR), of 23.5% over the forecast period.

Anurag Sharma, senior research analyst at market.us said,” The competition is fierce as a result of the increase in small and medium businesses (SMEs). Companies are using a variety of marketing strategies to reach their target audience. Mobile marketing is the most effective way to communicate with customers. Mobile marketing is a great way for SMEs to increase brand awareness, customer loyalty, and grow sales.” 

Digital marketing is a key component of start-ups’ efforts to increase consumer awareness about their products and services. The segment growth is expected to be driven by the rapid increase in start-ups in emerging countries and increasing investments in digital marketing.

Mobile marketing can be described as a multi-channel digital promotion activity that reaches the target audience via their mobile devices. This includes email, SMS, MMS, social media, and apps. 

According to research by the Global System for Mobile Communications Association, 75% of all mobile users will be using smartphones by 2025. This market would be driven by the rapid growth in smartphone and tablet adoption, as well as strong internet penetration in emerging countries like China and India.

The global mobile marketing market share, based on components, was dominated in 2022 by the platform segment. It is expected to continue its dominance during the forecast period. This is due to the increased need to analyze customer behavior and requirements to develop a product portfolio that is successful. 

This business model is characterized by a strong demand for online food delivery and transportation. This model is gaining popularity quickly, which will drive the demand for an all-in-one platform to integrate the tools. The service-based market segment will see significant growth due to the increasing popularity of multichannel platforms and mobile platforms, which create a strong base for overall market growth.

The retail industry has seen a significant impact from mobile technology, and this trend is only growing. Today’s consumers rely heavily upon mobile apps on their smartphones to compare prices, check availability, and request pick-up from a store. Numerous retail mobile apps have been developed today to simplify consumers’ shopping experiences through various marketing and promotional strategies.

Mobile marketing has been boosted by technological advances such as artificial intelligence (AI), and augmented reality. Machine learning (ML), with its strong analytical abilities, can be used to leverage advertising and display it when it is most relevant. Google has been testing various optimizations for mobile-search ads. They are used by retailers to analyze consumer behavior and send out notifications, which will increase market growth.

The market for mobile marketing is classified into four main categories: channel, component, organization size and verticals. The market can be divided into two components: platform and services. It is divided by channel into messaging, push notifications, and mobile emails. It is divided by organization size into small, medium, and large enterprises. The vertical segmentation of the mobile marketing market includes E-Commerce and retail, as well as travel and logistics, automotive, and Others.

Mobile marketing vendors are expected to generate significant revenue in the Asia-Pacific region during the forecast period. This is due to increasing smartphone adoption and growing populations in the region.

The healthcare market is expected to grow at a phenomenal rate due to the need to bridge the gap between businesses and consumers. The market growth limit is the inability to target mobile devices with ads and the limited reach of mobile ads due to the low traffic volume and engagement rates. Marketers are now turning to new marketing strategies, such as push notifications, content marketing, social media marketing, and content marketing to overcome these limitations.