Kenneth Research, in its repository of market research reports, has recently added a report on Mobile Engagement Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Mobile Engagement Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Mobile Engagement Market products.
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The Global Mobile Engagement Market was valued at USD 2.53 billion in 2016 and is projected to reach USD 73.30 billion by 2025, growing at a CAGR of 45.36% from 2017 to 2025.
Mobile engagement is the act of engaging a user through messaging channels on mobile devices â€“ smartphones, tablets, smartwatches and other wearables â€“ with experiences both inside and outside of apps. Companies use mobile engagement to deliver positive brand experiences, to support their business goals such as revenue and audience expansion, to communicate business transactions, and to build valuable long-term relationships with customers.
1. Market Drivers
1.1 Development of IT and Digital Services increased connectivity with consumers in travel and hospitality sector
1.2 Growing use of social media platform enhancing mobile engagement
1.3 Rising focus towards mobile first strategy
1.4 Growing use of mobile device application
2. Market Restraints
2.1 Issues with monetizing mobile apps
2.2 High initial setup cost
2.3 Concerns related to data privacy
The Global Mobile Engagement Market is segmented on the solution, organization size, vertical, and region.
1. Organization Size:
1.1 Large Enterprises
1.2 Small and Medium Organizations
2. By Solution:
2.1 App/ Web Content
2.2 SMS and MMS
2.3 In-App Messaging
2.4 Push Notifications
3. By Vertical:
3.1 Media and Entertainment
3.2 IT and Telecom
3.3 Travel and Hospitality
3.5 Financial Services
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
2. IBM Corporation
3. Urban Airship
4. Adobe Systems
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Global Mobile Engagement Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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