December 30, 2014
The global mobile marketing market will grow from US$4.3 billion in 2014 to US$15.2 billion by 2019, at a CAGR of 28.8%, according to a new report distributed by RnR Research. In terms of regions, North America is expected to be the biggest market in terms of market size, while Europe and Asia-Pacific (APAC) are expected to experience increased market traction during the forecast period.
The report states that due to current advancements in mobile technology, along with the rapid propagation and intrinsic characteristics of mobile devices, the mobile channel has developed as a new and potential tool for marketing activities. “Moreover, the importance of mobile marketing in marketing practices is widely accepted due to the unique features of mobile media. Effective mobile marketing strategies therefore depend on the ability of firms to manage and operate mobile technologies and their respective features.”
Increased penetration of smartphone and tablets users, mobile internet, increased usage of mobile applications and mobile web, and better return on marketing spend are some of the factors driving the mobile marketing market.
On the other hand, lack of education and awareness among Small and Medium Businesses (SMBs) and complex implementation on mobile marketing solutions are some of the restraints to the adoption of mobile marketing.
The overall mobile marketing market in this report has been defined as the spending by SMBs and large enterprises on mobile direct response marketing activities through SMS, MMS, push notifications, mobile emails, QR codes, location-based marketing, and in-app messages.
Companies profiled include SAP AG, IBM, Oracle, Adobe Systems, AT&T, Mobivity Holdings, Salesforce, SAS Institute, Salmat and Vibes Media.
The report is available at www.rnrmarketresearch.com.