Overview and Scope
Mobile engagement refers to engaging with people through messaging apps on mobile devices, both within and outside of apps. The mobile engagement is used to support business goals, deliver brand experiences, communicate business, and build valuable long-term relationships with customers.
Sizing and Forecast
The mobile engagement market size has grown exponentially in recent years. It will grow from $28.18 billion in 2023 to $40.38 billion in 2024 at a compound annual growth rate (CAGR) of 43.3%. The growth in the historic period can be attributed to proliferation of mobile devices, growth in mobile app usage, rise of in-app advertising, increasing importance of user retention, rise in population.
The mobile engagement market size is expected to see exponential growth in the next few years. It will grow to $176.28 billion in 2028 at a compound annual growth rate (CAGR) of 44.5%. The growth in the forecast period can be attributed to adoption of personalized and contextual messaging, increasing urbanisation, emphasis on interactive and gamified mobile experiences, growth in location-based mobile engagement, increased use of push notifications for customer engagement. Major trends in the forecast period include integration of chatbots and virtual assistants in mobile apps, focus on privacy-centric mobile engagement strategies, expansion of mobile wallets and in-app purchases, rise of progressive web apps (pwas) for seamless engagement, cross-platform and cross-channel mobile engagement solutions.
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Segmentation & Regional Insights
The mobile engagement market covered in this report is segmented –
1) By Solution: SMS and MMS, Push Notifications, In-App Messaging, E-mails, App or Web Content, Other Solutions
2) By Organization Size: Large Enterprises, Small and Medium Organizations
3) By Deployment: On-Premises, On-Cloud
4) By Industry Verticals: Banking, Financial Services and Insurance (BFSI), Retail and Ecommerce, Consumer Electronics and Accessories, Apparel, Footwear and Accessories(AFA), Furniture and Home Furnishings, Hospitality and Travel, Other Industry Verticals
Asia-Pacific was the largest region in the mobile engagement market in 2023. North America was the second largest region of the information technology market. The regions covered in the mobile engagement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing use of applications on mobile devices is expected to propel the growth of the mobile engagement market going forward. An application program, known as a mobile application, or simply an app, is a type of software designed specifically to run on mobile devices such as smartphones and tablets. Using a mobile application makes interactions simple as welcoming users with a push notification or providing guidance. Successful apps employ a mobile engagement to define the customer journey by being thoughtful and strategic in their interactions with consumers. For instance, according to Techjury, a US-based tech knowledge company, in the US, in 2020, 89% of smartphone users’ time is spent on just 18 apps, whereas for Millennials, that number rises to 67 apps. And 55% of businesses owned by Millennials have a mobile app of their own. Also, according to an article published by the Times of India, an India-based English-language daily newspaper, 3.48 million apps were available for Android users to browse in the first quarter of 2021. In addition, 2.22 million apps available for iPhone users on the Apple App Store. Therefore, the increasing use of applications on mobile devices is driving the mobile engagement market growth.
Key Industry Players
Major companies operating in the mobile engagement market report are Oracle Systems Corporation, International Business Machines Corp, Urban Airship Inc., Adobe Systems India Private Limited, Braze Inc., Salesforce Inc., Indie Vibes Finserv Private Limited, Swrve Inc., Marketo Inc., Selligent SA, Tapjoy Inc., Airship, Followanalytics Inc., Leanplum Inc., Smartfocus Pvt Ltd., Webtrekk GmbH, Joingo LLC., Truepush Private Limited, CleverTap, Emarsys, Iterable Inc., Optimove Inc., MoEngage, Pushwoosh Inc., Viber Media S. à r. l., Simplify360 Inc., SparkPost Inc., Tellofy Inc., TrueDialog Inc., Upland Localytics, Xtremepush
The mobile engagement market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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