Global Mobile Engagement Market 2018-2023 - Rapid Development of Information Technology and Digital Services Increasing Connectivity With Consumers in Travel and Hospitality Vertical
DUBLIN, Feb. 7, 2019 /PRNewswire/ --
The "Mobile Engagement Market by User Type (SME, LSE), Solution (SMS & MMS, Push Notification, In-App Messaging, E-mail, App/Web Content), Vertical (Financial Services, Retail, Travel & Hospitality, Telecom & IT), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The mobile engagement market will be valued at 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 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.
On the basis of solution, the market has been classified into SMS and MMS, push notifications, in-app messaging, e-mails, and app/web content. The market for push notifications is expected to grow at the highest CAGR during the forecast period. For instance, in March 2017, Urban Airship launched Urban Airship Web Notify, a web push notification solution, to help marketers engage new website visitors and boost connections with returning visitors through personalized, real-time messaging.
Mobile engagement offers a number of effective and economical marketing channels for all verticals. 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.
The retail vertical accounted for the largest share of the market in 2016. 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 finance vertical is expected to witness the highest growth during the forecast period. Mobile marketing channels help banks and financial institutions collect and analyze data, understand customer needs better, and accordingly target them with appropriate offers. This, in turn, is expected propel the growth of the mobile engagement market for the finance vertical during the forecast period.
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.
One of the major restraints for the mobile engagement market is the difficulty in monetizing mobile apps. The majority of the world has switched from PCs to mobile phones for internet usage. This has helped the native mobile app developers to establish monetization strategies for their respective websites. With the explosion of free apps, revenues have become highly dependent on these free apps. Paid downloads have also played a good role in attracting the maximum app revenues.
Key players in this market focus on strategic partnerships and collaborations, acquisitions, agreements, contracts, and new launches to increase their revenue. IBM (US) is a leading player in the mobile engagement market, followed by Salesforce (US), and Oracle (US). In June 2016, IBM partnered with The Boots Company to launch Sales Assist, an IBM MobileFirst for iOS app, across its stores in the UK to make products easily available for its customers.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insight
4.1 Increasing Demand for Mobile Engagement Solutions in Retail and Financial Services Verticals to Drive Market Growth
4.2 Mobile Engagement Market, By Vertical
4.3 Mobile Engagement Market, 2017
4.4 Mobile Engagement Market, By Region & By Solution
4.5 Mobile Engagement Automation Market: Industry Adoption Analysis
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Penetration of Mobile Phones
5.2.1.2 Increasing Use of Mobile Device Applications
5.2.1.3 Growing Focus Toward Mobile First Strategy
5.2.2 Restraints
5.2.2.1 High Initial Investment to Set Up Mobile Engagement Campaigns
5.2.2.2 Difficulty in Monetizing Mobile Apps
5.2.3 Opportunities
5.2.3.1 Development of Mobile Engagement Applications for Healthcare Vertical
5.2.3.2 Increased Use of Social Media Platforms Enhancing Mobile Engagement
5.2.3.3 Rapid Development of Information Technology and Digital Services Increasing Connectivity With Consumers in Travel and Hospitality Vertical
5.2.4 Challenges
5.2.4.1 Increasing Concerns Related to Data Privacy
6 Mobile Engagement Market, By Vertical
6.1 Introduction
6.2 Financial Services
6.3 Media and Entertainment
6.4 Retail
6.5 Travel and Hospitality
6.6 Telecom and IT
6.7 Others
7 Mobile Engagement Market, By User Type
7.1 Introduction
7.2 Small and Medium-Sized Enterprises
7.3 Large-Scale Enterprises
8 Mobile Engagement Market, By Solution
8.1 Introduction
8.2 SMS and MMS
8.3 Push Notifications
8.4 In-App Messaging
8.5 E-Mails
8.6 App /Web Content
8.7 Other Solutions
9 Geographic Analysis
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 UK
9.3.2 Germany
9.3.3 France
9.3.4 Rest of Europe
9.4 APAC
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 Rest of APAC
9.5 RoW
9.5.1 Middle East & Africa
9.5.2 South America
10 Competitive Landscape
10.1 Introduction
10.2 Market Ranking Analysis: Mobile Engagement Market
10.3 Competitive Scenario
10.4 Recent Developments
10.4.1 Product Launches
10.4.2 Partnerships/Agreements
10.4.3 Acquisitions
11 Company Profiles
11.1 IBM
11.2 Salesforce
11.3 Oracle
11.4 Adobe
11.5 Vibes
11.6 Selligent
11.7 Urban Airship
11.8 Appboy
11.9 Localytics
11.10 Swrve
11.11 Tapjoy
11.12 Marketo
11.13 Key Innovators
11.13.1 Accengage
11.13.2 Followanalytics
11.13.3 Leanplum
11.13.4 Smartfocus
11.13.5 Webtrekk
For more information about this report visit https://www.researchandmarkets.com/research/pkg7xx/global_mobile?w=5
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