Mobile Engagement Market: Global Industry Analysis and Forecast (2023-2029)

The Mobile Engagement Market was valued at US$ 11.88 Bn. in 2022. The Global Mobile Engagement Market size is expected to grow at a CAGR of 44.05 % through the forecast period.
Mobile Engagement Market Overview:
The act of engaging consumers across a variety of message channels, both inside & outside of an app, is known as mobile engagement. Companies employ a mobile engagement platform as a marketing approach to create great brand experiences, build long-term relationships with customers, & design their respective business objectives. The rising popularity of mobile marketing is attributed to large investments by big e-commerce firms to increase company approachability through data triangulation, which is helping to drive the growth of the Mobile Engagement Market. In addition, widespread internet penetration, combined with the potential adoption of smartphones & application usage, as well as the introduction of other electronic devices, has aided the development of mobile applications & mobile web platforms, which has significantly boosted the Mobile Engagement market opportunities during the forecast period.

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The past five years' trends are considered while forecasting the market through 2029. 2022 is a year of exception and analysis, especially with the impact of lockdown by region.
Mobile Engagement Market Dynamics:
Market Drivers:

Growing Smartphones penetration

Major online companies are gaining traction around the world as a result of increased internet usage & smartphone penetration, which strives for the Mobile Engagement Market's growth. Indeed, as online shopping platforms become more well-known and a significant hybrid channel strategy develops, businesses of all types, sizes, & goods are covering their online stores to achieve their growth goals.

In this Covid-19 pandemic scenario, smartphones & Smart electronic devices provide a variety of platforms for corporate organizations with a variety of solutions including marketing, sales, and service efforts to improve customer experience. Furthermore, this new platform enables companies to grow by providing insights for implementing marketing strategies. As a result, the growth of the Mobile Engagement Market is influenced by the growing usage of Smartphones & other major internet penetration.

The Popularity of Mobile Money Platforms:

The growth of the Mobile Engagement Market is expected to be driven by mobile money, also known as a digital wallet, which is designed to provide users with numerous payment alternatives, such as virtual wallet services, money transfers, and other payment activities. Several eCommerce merchants are now implementing seamless digital payment capabilities to provide their clients with the most convenient and secure digital payments possible, as well as to establish long-term relationships with potential purchasers.

Day by day customers is moving towards PayPal, Google Wallet, Apple Pay, Amazon Payments, and other online wallets for convenient online shopping and other sorts of online transactions and payment through applications because of their popularity. As a result, the rising demand for Mobile Money Platforms among retailers will drive the growth of the Mobile Engagement Market through the forecast period.

Market Restraints:

Lack of Expertise in mobile marketing integration:

Mobile marketing is an innovative technique to contact a large number of clients, & it is being used by many companies around the globe to advertise more efficiently. However, developing new methods, such as mobile marketing campaigns takes extensive research, expertise, and experience to integrate the most effective technique. Some difficulties like choosing the right target group, being unable to calculate ROI & other metrics, developing the inappropriate ad format, & other inevitable errors can significantly harm the brand. Although it has numerous advantages but in attracting new and target customers using mobile marketing needs experts to navigate these complex processes. As a result, the lack of qualified marketing experience to comprehend digital marketing efforts, as well as other tough features such as device configuration are some of the reasons limiting the Mobile Engagement Market's growth.
Segment Analysis:
Based on Service, Mobile Engagement Market is divided into SMS & MMS, Push Notification, In-App Messaging, E-mail, App/Web Content, and Others. Due to the increased demand for advertising strategies to target consumers regarding products and services among various vendors, the Push Notification segment has seen the fastest growth rates in the year 2022 & is anticipated to grow at a CAGR of 3.2% during the forecast period. From the MMR report study, it is found that OptinMonster, WPForms, MonsterInsights, & WP Mail SMTP are push notification software that is highly used by the customer. Hence, the development of highly targeted push notification campaigns, short messaging services, and enhanced opt-in technology is anticipated to drive the growth of the Mobile Engagement Market.



Based on the Industrial Vertical, Mobile Engagement Market is divided into Banking, financial services and insurance (BFSI), Consumer Electronics and accessories (CESA), Apparel, Footwear, and Accessories (AFA), FMCG, Retail & Ecommerce, and Others. Due to the introduction of various omnichannel platforms such as mobile apps, Websites, and QR-based virtual stores that support a competitive exposure to retail and e-commerce merchants, the Retail & Ecommerce industry is expected to grow at the highest CAGR of 9.4 % during the forecast period 2022-2029.

In addition, the increasing number of consumers spending more time online benefits numerous e-commerce platforms and encourages traders to utilize current digital technology. As a result, the rise of e-commerce firms and the popularity of digital commerce around the world are propelling the growth of the Mobile Engagement Market through the forecast period.
Regional Overview:
The Asia Pacific region dominated the market with a 58 % share in the year 2022. The Asia Pacific region is expected to witness significant growth at a CAGR of 38% through the forecast period. In addition, the presence of several prominent online retail industries, like HipVan, Flipkart, JD.com, Snapdeal, India Mart, Alibaba, & others, as well as rapid commercialization leads to the comprehensive adoption of diversified digital platforms which makes the Asia Pacific the fastest-growing region for Mobile Engagement Market. Furthermore, the increased adoption of AI technologies to create market insights, as well as the prevalence of best-in-class hybrid cloud providers, are impacting the expansion of mobile engagement platforms in this area.

The objective of the report is to present a comprehensive analysis of the global Mobile Engagement Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Mobile Engagement Market dynamic, and structure by analyzing the market segments and projecting the Mobile Engagement Market size. Clear representation of competitive analysis of key players by Vehicle type, price, financial position, product portfolio, growth strategies, and regional presence in the Mobile Engagement Market make the report investor’s guide.
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Mobile Engagement Market


Report Coverage



Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 11.88 Bn.


Forecast Period 2023 to 2029 CAGR:
44.05%
Market Size in 2029:
US $ 152.95 Bn.


 Segments Covered:
by Solution
SMS & MMS
Push Notification
In-App Messaging
E-mail
App/Web Content
Others


by Industry Verticals
BFSI
Consumer Electronics and accessories
FMCG
Apparel, Footwear, and Accessories (AFA)
Retail & Ecommerce
Others


by Offering
Platform
Services


by Deployment
On-Premises
On-Cloud


by Organization Size
Small & Medium Enterprises
(SME)
Large Enterprises



Mobile Engagement Market by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Key Players are:
1.Accengage
2.Adobe
3.Appboy
4.Followanalytics
5.IBM
6.Key Innovators
7.Leanplum
8.Localytics
9.Marketo
10.Oracle
11.Experience Cloud
12.Salesforce
13.Selligent
14.Smartfocus
15.Swrve
16.Tapjoy
17.Urban Airship
18.Vibes
19.Webtrekk
20.Braze

Frequently Asked Questions:

1] What segments are covered in the Global Mobile Engagement Market report?
Ans. The segments covered in the Mobile Engagement Market report are based on Solution, Offering, Industry Verticals, Deployment, Organization Size, and Region.

2] Which region is expected to hold the highest share in the Global Mobile Engagement Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Mobile Engagement Market.

3] What is the market size of the Global Mobile Engagement Market by 2029?
Ans. The market size of the Mobile Engagement Market by 2029 is expected to reach US$ 152.95 Bn.

4] What is the forecast period for the Global Mobile Engagement Market?
Ans. The forecast period for the Mobile Engagement Market is 2023-2029.

5] What was the market size of the Global Mobile Engagement Market in 2022?
Ans. The market size of the Mobile Engagement Market in 2022 was valued at US$ 11.88 Bn.