The global mobile marketing market size is poised to reach USD 223.41 billion by 2025, progressing at a CAGR of 22.8% over the forecast period, according to a new study by Grand View Research, Inc. Mobile marketing is a promotional activity that helps to connect advertisers to end users through push notifications and emails, among others, that are sent directly to customers. Surging use of smartphones to access online content coupled with growing trend of location-based mobile marketing is projected to drive the global market over the forecast period. Moreover, increasing number of social media platforms and users accessing popular multimedia content on the internet, such as videos, audio, and text, are anticipated to propel the market over the forecast period.
Global Positioning Systems (GPS) and Radio Frequency Identification (RFID) technology are used by enterprises to acquire data about consumer preferences, which is further analyzed in order to target nearby customers by sending them notifications about relevant products and services. Furthermore, mobile devices are the largest source of digital data, and most of the data is accessed through social media platforms, web browsers, and mobile applications. Spiraling adoption of Artificial Intelligence (AI) and big data analytics in mobile marketing to monitor consumers’ preferences and deliver accurate insights to reach right customers is estimated to bolster the growth of the market over the forecast period.
Based on several surveys, more than 70.0% of enterprises are of the opinion that mobile devices have transformed their businesses and customer experience by enabling continuous interaction with customers and employees. Consumers are increasingly preferring online shopping owing to increasing penetration of smartphones.
Companies are highly focused on advertising their products and services through e-commerce channels. This has helped the retail segment to command a significant revenue share in 2018. Key players focus on mergers and acquisitions that will help to enhance their regional presence and target new customers across the globe. However, growing privacy concerns coupled with increasing use of ad blockers to avoid unwanted content can hamper the growth of the market over the forecast period.
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Further key findings from the study suggest that:
- North America represented a significant revenue share of the global mobile marketing market owing to rise in the use of Over the Top (OTT) content and social media content along with the highest percentage of smartphone penetration
- The market in Latin America is expected to exhibit the highest CAGR over the forecast period owing to significant rate of smartphone penetration in Brazil and Mexico, along with high investment in improvement of network infrastructure.
- Increasing number of OTT content subscribers in Latin America is likely to create significant opportunities for industry players over the coming years
- Companies leveraging machine learning, AI, big data, and augmented reality technologies for high customer engagement through televising or displaying of ads are poised to help the market gain traction over the coming years
- Significant use of GPS and RFID technologies for location-based mobile marketing is projected to boost the growth of the market over the forecast period
- Key players are focused on collaborating with content service providers, which is likely to help target new customers and increase their regional presence.
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About Grand View Research:
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.