Mobile Marketing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Mobile Marketing Market was valued at USD 66.42 billion in 2020 and is expected to reach USD 253.40 billion by 2026, at a CAGR of 25% over the forecast period 2021 - 2026. Mobile marketing is emerging as the most effective marketing technique via which enterprises can engage with its customer at any time of the day regardless of the location.

• Mobile marketing is the multichannel promotion of products or services through mobile phone, mobile 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.
• With the ongoing shift from traditional to the digital platform, it has been more flexible for the online retailers to generate their leads (B2C) by using the branding and advertising strategy with the help of the different mobile devices.
• Moreover, major e-commerce giants are using the mobile marketing strategies to generate a recurring source of income, increase customer loyalty, and acquisition which will help them to improve the bottom line of their business in the near future.

Key Market Trends

Retail Sector to Witness High Growth

• Mobile has already started to have a major impact on the retail industry and is increasing day-by-day. Consumers today rely heavily on the mobile applications that are available on their devices to compare product prices, check the availability of the product or just request to pick up a purchase from a store. Today, there are numerous retail mobile phone apps being developed to streamline consumer's shopping experience through different marketing and promotional strategy.
• Further, mobile allows multichannel brands to communicate with consumers and capture transaction information directly from consumers through receipt processing, thereby enabling whole retail industries such as consumer packaged goods and apparel to create their own loyalty programs. Forward-thinking brands are re-imagining their entire loyalty programs from top to bottom with a view towards deeply integrating mobile into their programs.
• Moreover, with the increasing adoption of smartphones across the globe, it is expected to drive the market forward.

Asia-Pacific Occupies the Major Share

• The Asia-Pacific region is expected to be a significant revenue generator region for mobile marketing vendors during the forecast period owing to the increasing adoption of smartphones due to increase in disposable income and increasing population in this region.
• The market growth in developing countries of the Asia-Pacific regions can be accounted for the enhancements in network connectivity, increasing number of unique mobile subscribers, growing 3G and 4G network penetration, and increasing awareness among enterprises.
• The major vendors in this region 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.

Competitive Landscape

The mobile marketing market is highly competitive owing to the presence of many small and large players in the market operating in domestic as well as in the international market. The market appears to be fragmented with key players adopting strategies like product and service innovation and mergers and acquisitions. Some of the major players in the market are Google Inc., Facebook Inc., Microsoft Corporation, Twitter Inc. among others.

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