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Mobile Engagement Market 2024-2033 | Size, Share, Insights, Demand, Outlook
Mobile Engagement Market
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.
Market Overview -
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.
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Mobile Engagement Key To Success For App-Centric Businesses
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.
Competitive Landscape -
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.,., 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
Mobile Engagement Market Embraces Product Innovations For Enhanced Customer Experience
Product innovations are a key trend gaining popularity in the mobile engagement market. Major players operating in the mobile engagement sector are concentrating their efforts on new product innovations to strengthen their market position. For instance, in October 2021, Meridian Integration, a US-based utility solutions provider launched El Paso Electric (EPE) mobile application, a new app for interaction with digital customers. It shows dedication to the forefront of technology and assisting clients in customer experience (CX) objectives and technological journeys as a logical extension of the IDEA Digital Customer Engagement solution. With the use of the El Paso Electric mobile app, customers who have access to mobile devices can more easily access their accounts and have a better overall customer experience. With the new app, consumers of EPE can now quickly access their EPE accounts and benefit from new features at their fingertips. The app is powered by Meridian's IDEA solution and includes all the well-known, practical features found on the EPE Manage My Account online portal at epelectric.com.
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Key Segments -
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
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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