It is a very promising market with powerful realities that include henceforth the fact that, growth drivers like increasing number of mobile phone users, high internet speed, and increasing use of mobile web and mobile applications are expected to shape the future of the market.
Research and Markets reveals that, the mobile marketing market size is expected
to grow from USD 28.63 Billion in 2016 to USD 98.85 Billion by 2021.
One can also observe that, the SMS segment is expected to have the
largest market share in 2016 while QR codes segment is expected to grow.
According to Research and Markets, the growth in the segment is driven by the
fact that it is a form of offline advertisement, probably cheaper than other
online advertising.
SMS marketing has good traction among small
businesses, which do not have huge
marketing budget and cannot afford to market their products through mobile
applications, emails, and QR codes, among various others, reveals the firm.