The mobile engagement market will
be valued at USD 4.44 Billion in 2017 and is expected to reach USD 38.70
Billion by 2023, at a CAGR of 43.46% between 2017 and 2023.
The increasing use of mobile
device applications and growing focus toward mobile first strategy are among
the factors driving the growth of the market.
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The increased adoption of mobile first
approach has enabled in-depth understanding of brands and consumers, meeting
consumer needs through mobile devices, and communicating value proposition
effectively. The mobile app offers a platform to vendors for utilizing location
data, together with search history, to provide a contextual, omnichannel
experience across mobile devices.
SMEs
expected to grow at a high rate during the forecast period
The key factor driving the growth of
SMEs in the mobile engagement market is the increasing number of vendors that
are likely to come up with solutions specifically to cater to the demands of
SMEs. This is expected to help these businesses go mobile and start making use
of digital marketing to drive traffic and increase sales.
Retail
vertical expected to hold the largest share during the forecast period
Key factors contributing to the growth
of the mobile engagement market in the retail vertical is the increased
adoption of smartphones and tablets, and the use of mobile internet to offer
great opportunities to retailers to effectively market their products and
services.
Mobile
engagement market in the North America expected to hold the largest share in
2016
North America is expected to hold the
largest market share in 2016 owing to the increased adoption of mobile wallets
among customers, which enables communication with brands about sales, offers,
coupons, and loyalty programs. The market for mobile engagement in APAC is
expected to grow at the highest CAGR during the forecast period and surpass
North America by 2023.
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Major players operating in the mobile
engagement market include IBM (US), Salesforce (US), Oracle (US), Adobe (US),
Vibes Media (US), Selligent (Belgium), Urban Airship (US), Appboy (US),
Localytics (US), Swrve (US), Tapjoy (US), and Marketo (US).
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