Mobile Engagement
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What Is the Expected CAGR for the Mobile Engagement Market Through 2025?
The size of the mobile engagement market has experienced substantial growth over the past few years. The market, estimated at $39.68 billion in 2024, is expected to expand to $56.4 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 42.1%. This significant increase during the historical period is largely due to factors such as the increase in mobile device usage, the surge in mobile app utilization, the emergence of in-app advertisements, the growing focus on user retention, and population increase.
What’s the Projected Size of the Global Mobile Engagement Market by 2029?
In the forthcoming years, the mobile engagement market is predicted to witness a rapid rise in its size. By 2029, the market is projected to reach up to $260.82 billion, with a staggering compound annual growth rate (CAGR) of 46.6%. Key drivers of growth during the predicted period are factors such as personalized and contextual messaging adoption, increasing urban population, an emphasis on interactive mobile experiences and gaming, an uptick in location-specific mobile engagement, and the growing utilization of push notifications for engaging customers. Forecast period highlights include the incorporation of chatbots and virtual assistants within mobile applications, a focus on privacy-oriented mobile engagement approaches, the growth of mobile wallets and in-app purchasing, the emergence of progressive web applications (PWAs) for uninterrupted engagement, as well as mobile engagement solutions that span across different platforms and channels.
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Top Growth Drivers in the Mobile Engagement Industry: What’s Accelerating the Market?
The surge in mobile application usage is predicted to fuel the expansion of the mobile engagement market in the future. Mobile applications, or simply apps, are unique software programs developed specifically for operation on mobile devices such as smartphones and tablets. These apps simplify interactions, such as sending a push notification to welcome users or offering guidance. Successful applications utilize mobile engagement to carefully and strategically map out the customer journey through their interactions with consumers. For example, a report by the House of Commons Library, the UK-based lower house of Parliament, from May 2024, revealed that almost all children, at 99%, spend time online, and by the age of 11, nine in ten possess a mobile phone. Among social media users between the ages of 8 and 17, about 75% have a profile on at least one primary platform. Despite the age requirement of 13 for most platforms, 60% of children aged 8 to 12 who use these platforms have established their own profiles. Consequently, the rising use of mobile applications is contributing significantly to the growth of the mobile engagement market.
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What Trends Will Shape the Mobile Engagement Market Through 2029 and Beyond?
Product advancements are a prominent trend gaining traction in the mobile engagement market. The dominant players involved in this market segment are focusing their efforts on unveiling new product enhancements to solidify their market stand. For example, in May 2023, British Telecommunications plc, a company based in the UK that specializes in providing telecommunications and IT solutions to businesses from diverse sectors, announced the introduction of Immersive Spaces for their business and public sector consumers. By doing so, they become the pioneers in the UK for creating a 5G-empowered interactive simulation experience. In an innovative collaboration with Immersive Interactive Ltd, this initiative combines interactive 360° visual content with sensory factors such as lighting, sound, and smell to replicate real-life environments. These spaces can be utilized by companies for staff training purposes, like equipping new forklift operators with the knowledge about the factory conditions in a safe and controlled environment.
What Are the Main Segments in the Mobile Engagement Market?
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
Subsegments:
1) By SMS And MMS: Promotional SMS, Transactional SMS, Multimedia Messaging Service (MMS)
2) By Push Notifications: Rich Push Notifications, Standard Push Notifications
3) By In-App Messaging: Contextual In-App Messages, Onboarding Messages, Feedback Messages
4) By E-Mails: Transactional Emails, marketing Emails, Drip Campaign Emails
5) By App Or Web Content: Personalized Content, Dynamic Content
6) By Other Solutions: Mobile Wallet Engagement, Chatbots And AI Messaging, Social Media Engagement
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Which Top Companies are Driving Growth in the Mobile Engagement Market?
Major companies operating in the mobile engagement market include Oracle Systems Corporation, International Business Machines Corp, Urban Airship Inc., Adobe Systems India Private Limited, Braze Inc., Salesforce Inc., Swrve Inc., ket*o Inc., Selligent SA, Tapjoy Inc., Airship, Followanalytics Inc., Leanplum Inc., Smartfocus Pvt Ltd., Webtrekk GmbH, 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
Which Regions Will Dominate the Mobile Engagement Market Through 2029?
Asia-Pacific was the largest region in the mobile engagement market in 2024.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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