A new report from Allied Market Research projects significant growth for the global mobile marketing market, forecasting it will reach $57.85 billion by 2030, up from $11 billion in 2020.
This reflects a compound annual growth rate (CAGR) of 18.3% over the 2021-2030 period. The report offers detailed insights into market trends, emerging technologies, and key players, emphasising the growing role of mobile marketing in the digital economy.
The rise of the on-demand business model, increased consumer demand for omnichannel shopping experiences, and the push for personalised marketing are some of the primary drivers of this market growth. However, complexities related to integrating electronic data and synchronising data between platforms present challenges for businesses aiming to leverage mobile marketing fully.
Key Drivers of Growth: On-Demand and Omnichannel Trends
The increasing adoption of the on-demand business model and the surge in omnichannel shopping are shaping the mobile marketing landscape. As consumer preferences evolve, businesses are compelled to adopt strategies that cater to personalised experiences, often involving mobile devices. This shift is expected to significantly increase mobile marketing adoption as companies look to tap into new customer engagement opportunities across various touchpoints.
Despite these advancements, some challenges remain. Integrating electronic data interchange (EDI) and managing data synchronisation between multiple platforms can impede seamless marketing operations. Additionally, issues related to bias within operational data are further obstacles for businesses. Nevertheless, the integration of artificial intelligence (AI) in mobile marketing software is poised to address these challenges by providing data-driven insights that improve marketing efficiency.
AI-driven client experience management tools are also expected to play a pivotal role in shaping the future of mobile marketing. The ability to generate actionable insights from customer data will enable businesses to fine-tune their marketing strategies and improve engagement, ultimately driving higher profit margins.
Impact of COVID-19 on Mobile Marketing
The COVID-19 pandemic has further accelerated the demand for mobile marketing services, particularly due to the increased reliance on online channels during lockdowns and social distancing measures. As businesses adopted remote working models, the importance of maintaining an effective mobile presence became more evident, leading to a surge in demand for mobile marketing solutions.
Companies that focused on enhancing their digital presence during this time have been better positioned to offer efficient and personalised consumer experiences, a trend that is likely to continue as more organisations embrace hybrid working models and digital-first strategies.
The report highlights several key areas of the mobile marketing market, including the breakdown by component, channel, organisation size, and industry. In 2020, platforms accounted for the largest share of the market, representing over three-quarters of total market revenue. However, the services segment is projected to witness the fastest growth, with a CAGR of 19.7% expected over the forecast period.
In terms of marketing channels, messaging continues to dominate, accounting for more than two-fifths of the total market share in 2020. The quick response (QR) code segment is expected to experience the fastest growth, with a forecasted CAGR of 22.6% between 2021 and 2030, highlighting the continued rise of contactless technology and its role in consumer engagement.
Regionally, North America led the market in 2020, contributing nearly 40% of the total market share. This dominance is expected to continue throughout the forecast period. However, the Asia-Pacific region is anticipated to experience the fastest growth, with a predicted CAGR of 21.0%, as mobile technology adoption and digital engagement continue to rise across emerging economies in the region.
Opportunities and Challenges for B2B Marketers
For B2B marketers, the rapid expansion of the mobile marketing market presents both opportunities and challenges. While the demand for omnichannel engagement and personalised marketing strategies will drive growth, businesses must also address the technical complexities associated with integrating and synchronising data across platforms.
As AI continues to become a core component of mobile marketing software, it will provide B2B marketers with the tools necessary to enhance customer engagement and streamline operations. The ability to gather meaningful insights from customer interactions will be essential for refining marketing strategies and improving return on investment.
Looking ahead, cloud-based business models are expected to provide additional opportunities for growth in the mobile marketing sector. Businesses that successfully integrate AI-driven solutions into their mobile marketing efforts will be well-positioned to capitalise on this growing market, enabling them to create more effective campaigns and engage with customers in real-time.
The rise of mobile marketing, coupled with technological advancements such as AI and cloud computing, underscores the importance of adopting a forward-thinking approach in today’s competitive business environment. By staying abreast of these developments, B2B marketers can ensure they remain ahead of the curve and drive sustainable growth for their organisations.
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