The mobile engagement market
was valued at USD 2.33 Billion in 2016 and is expected to reach USD 8.70
Billion by 2023, at a CAGR of 43.46% during the forecast period.
The research methodology used to estimate and
forecast the mobile engagement market begins with obtaining data on the
revenues of key vendors through secondary research sources such as Mobile
Marketing Association, Business Marketing Association, Software and Information
Industry Association, and Club Texting, Vendor offerings are taken into
consideration to determine the market segmentation.
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This study also answers several questions,
such as which market segments to focus on in the next 2–5 years for
prioritizing efforts and investments for stakeholders. 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).
The increasing use of mobile device
applications is among the major driving factors for this market.
Moreover, companies are adopting the mobile first approach that helps
them recognize the significant role of mobile devices in enhancing the consumer
experience. The increased adoption of the mobile first approach has allowed
companies to gain in-depth understanding of brands and consumers, meet consumer
needs through mobile devices, and communicate their value proposition
effectively.
The mobile
engagement market has been segmented on the basis of user type,
solution, vertical, and geography. The mobile engagement market, by user type,
has been segmented into SMEs and LSEs. The market for SMEs is expected to grow
at a higher CAGR during the forecast period. An increasing number of vendors
are likely to come up with solutions specifically to cater to the demands of
SMEs.
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Mobile marketing solutions have been widely
adopted by several verticals owing to the increased usage of mobile devices as
well as the need to attract, engage, acquire, and retain customers. Mobile
marketing plays an important role in helping retailers adjust to this changed
consumer behavior. Retailers also look for mobile marketing solutions to
improve their CRM and increase application engagement.
The mobile engagement market in APAC is
expected to grow at the highest CAGR during the forecast period owing to the
rapid deployment of mobile telecommunication infrastructure and the increasing
use of smartphones.
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