PUBLISHER: KBV Research | PRODUCT CODE: 1645307
PUBLISHER: KBV Research | PRODUCT CODE: 1645307
The Global Mobile Marketing Market size is expected to reach $92.32 billion by 2031, rising at a market growth of 23.1% CAGR during the forecast period.
The North America region witnessed 36% revenue share in this market in 2023. This can be attributed to several factors, including the high smartphone penetration rate, advanced mobile infrastructure, and a tech-savvy population. The United States and Canada, in particular, are leaders in this marketing innovation, with businesses across industries heavily investing in mobile-based advertising, push notifications, and location-based marketing.
Location-based marketing and geofencing technologies are becoming integral tools for businesses to reach consumers in real-time with personalized offers and advertisements. With geofencing, companies can set up virtual boundaries around a physical location, such as a store or event, and trigger targeted messages when a consumer enters or exits the area. This enables businesses to deliver contextually relevant content that resonates with the consumer's immediate environment, increasing the chances of conversion. Thus, the rise of location-based marketing and geofencing technologies is driving the market's growth.
Additionally, Mobile advertising has grown significantly due to its ability to reach consumers directly on their personal devices. Businesses have recognized that mobile is the primary channel for consumers to engage with content, shop online, and access services, prompting them to invest heavily in mobile-focused advertising strategies. Whether through in-app ads, social media promotions, or display ads on websites optimized for mobile, businesses are channeling more of their advertising budgets into this marketing. In conclusion, businesses' increased investment in mobile advertising propels the market's growth.
However, Privacy concerns and the evolving landscape of data protection regulations present significant challenges for this marketing. As data privacy has become a top priority for consumers, businesses are faced with balancing the need for personalized advertising with safeguarding user information. With increasing awareness of how personal data is collected, used, and shared, many consumers are becoming more cautious about their digital footprints, which can hinder the effectiveness of these marketing strategies. Therefore, while data-driven marketing offers significant opportunities, privacy concerns, and regulations can constrain its full potential.
Component Outlook
Based on component, this market is divided into platform and services. The services segment held 35% revenue share in this market in 2023. This includes various offerings such as consulting, campaign management, creative services, and analytics. As these marketing strategies become more complex, businesses are increasingly relying on service providers for expertise in optimizing campaigns, effectively reaching target audiences, and providing in-depth performance analysis.
Enterprise Size Outlook
Based on enterprise size, this market is bifurcated into large enterprises and small & medium enterprises (SMEs). The small & medium enterprises (SMEs) segment witnessed 34% revenue share in this market in 2023. SMEs benefit from cost-effective solutions such as social media marketing, SMS campaigns, and app-based promotions, allowing them to reach their target audience without extensive resources. Moreover, SMEs often focus on local or niche markets, and mobile marketing channels like location-based marketing and push notifications have proven effective in driving engagement and customer retention.
Application Outlook
On the basis of application, this market is segmented into mobile web, SMS, location-based marketing, in-app messages, push notifications, QR codes, and others. In 2023, the push notifications segment held 19% revenue share in this market. Push notifications have become a critical tool for engagement, enabling businesses to send timely, personalized messages directly to users' mobile devices. This method helps increase user retention, engagement, and conversion rates, particularly in mobile apps, e-commerce platforms, and service-based industries.
End Use Outlook
By end use, this market is divided into retail, media & entertainment, travel, automotive, healthcare, IT & telecom, BFSI, and others. The media & entertainment segment procured 20% revenue share in this market in 2023. With the rapid consumption of digital content on mobile devices, media and entertainment companies have increasingly turned to mobile marketing to promote their offerings. Mobile ads, in-app promotions, push notifications, and social media campaigns engage audiences and drive subscriptions, views, and content consumption.
Regional Outlook
Region-wise, this market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region generated 28% revenue share in this market in 2023. This growth can be attributed to the rapid digital transformation across key regional economies, such as China, India, Japan, and Southeast Asia. The growing adoption of smartphones, mobile apps, and mobile internet has made the region an attractive market for mobile marketing. Moreover, many countries' increasing urbanization and mobile-first approach have fuelled the demand for mobile marketing solutions.
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global Mobile Marketing Market Report Segmentation
By Component
By Enterprise Size
By Application
By End Use
By Geography