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QR Code Channel For Mobile Marketing Market Size, Emerging Trends, Growth Rate, Business Opportunities And Forecast To 2033
QR Code Channel For Mobile Marketing Market Size
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According to The Business Research Company's, The QR code channel for mobile marketing market size has grown exponentially in recent years. It will grow from $36.03 billion in 2023 to $48.18 billion in 2024 at a compound annual growth rate (CAGR) of 33.8%. The growth in the historic period can be attributed to increased use of mobile applications, increased popularity of mobile marketing, increasing digitalization and accessibility of internet services, and increasing conversion rates and offerings.
The QR code channel for mobile marketing market size is expected to see exponential growth in the next few years. It will grow to $155.46 billion in 2028 at a compound annual growth rate (CAGR) of 34.0%. The growth in the forecast period can be attributed to rising awareness of QR codes, rising demand for mobile marketing platforms, growing demand for interactive marketing, growing need to safeguard user data, and increasing adoption of smartphones. Major trends in the forecast period include technological advancements, product innovations, developing AI integration, innovation in design, technology-driven QR code security, innovation in cross-channel marketing, and developing QR code payment solutions.
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Market Drivers and Trends:
The increasing use of smartphones is expected to propel the growth of the QR code channel for mobile marketing going forward. Smartphones refer to mobile devices that combine the functionality of traditional mobile phones with advanced computing capabilities. The increase in smartphone usage can be attributed to factors such as the proliferation of affordable devices offering advanced features and functionalities and expanding access to high-speed internet connectivity, driving greater adoption for communication, entertainment, and productivity purposes. QR codes provide a convenient and versatile tool for mobile marketing, allowing marketers to deliver targeted content, promotions, and transactions directly to consumers' smartphones, enhancing user engagement and driving conversions. For instance, in August 2022, according to Iron Source, an Israel-based software company, the number of smartphone users in Japan is projected to reach over 94% of the population, or 115.5 million users by 2027. Therefore, the increased use of smartphones is driving the growth of the quick response code channel for mobile marketing market.
Major companies operating in the QR code channel for the mobile marketing market are focusing on developing advanced solutions, such as next-generation conversational AI platforms, to sustain their position in the market. A next-generation conversational AI platform is an advanced system that leverages cutting-edge technologies to enable natural and human-like interactions between users and machines. For instance, in May 2024, Verses AI Inc., a Canada-based computer software company, introduced a quick response code capability for Verse Capture. This feature allows customers to scan a QR code and instantly engage in a conversational AI-powered text conversation with the brand. This technology can capture contact information and other details from potential customers, enabling businesses to build a lead pipeline and analyze the success of their campaigns.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Amazon.com Inc., Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Verizon Communications Inc., AT&T Inc., Dell Technologies Inc., LG Electronics Inc., Intel Corporation, Hewlett Packard Inc, Vodafone Group Plc, Cisco Systems Inc., Qualcomm Incorporated, Oracle Corporation, Systems Applications and Products in Data Processing, SAP SE, Salesforce.com Inc., Etsy Inc., Iterable Inc., Barcodes Inc., Vibes Media LLC, TEC-IT Datenverarbeitung GmbH
QR Code Channel For Mobile Marketing Market 2024 Key Insights:
• The QR code channel for mobile marketing market size is expected to see exponential growth in the next few years. It will grow to $155.46 billion in 2028 at a compound annual growth rate (CAGR) of 34.0%.
• Driving Growth Of QR Code Channel In Mobile Marketing Through Increased Smartphone Usage
• Integration Of Next-Generation Conversational AI With QR Code Marketing Platforms
• North America was the largest region in the QR code channel for mobile marketing market in 2023
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