Mobile engagement market is likely to touch USD 38.70 billion by 2023 from existing USD 4.44 billion in 2017. According to the research firm, Research, and Markets, “the mobile engagement market is projected to grow at a CAGR of 43.46% between 2017 and 2023.”
Companies are using mobile engagement for building a long-term relationship with customers and retain the customers. This is going to be a major component of the CRM application. It will help companies to deliver the positive brand experience and build long-term relationships with customers. Typically, companies are using the solutions like SMS & MMS, Push Notification, In-App Messaging, E-mail, and App/Web Content to engage with the customers.
Mobile engagement market is driven by the forces like Mobile-first strategy and increasing usage of smartphones. The is a boom in the e-commerce market because of the high usage of the mobile phones And the boom in the e-commerce sector has helped the companies to earn more profit, of late. The use of the mobile has also changed the behavior of the customers. Of late, customers would look for the information about the product or company before purchasing anything. And the change in the behavior of the customers has certainly pushed the companies to go for the mobile engagement model to reach and keep their customers.
The growth momentum in the mobile engagement is a golden opportunity for the SMEs sector to reach to their customers with affordable solutions available in the market. The SMEs units can achieve higher revenue and sales by adopting the mobile-first policy. Mobile App is one the best way for these companies to retain and engage with their customers. It will help the business owners to know the consumer behavior with real-time analytics. As per the report, “the market for SMEs is expected to grow at a higher CAGR during the forecast period. An increasing number of vendors are likely to come up with solutions specifically to cater to the demands of SMEs.”
These companies could opt the mobile marketing and IT solutions to increase their profit and sales. Those will help them to attract, engage, acquire, and retain customers. The report suggested that the mobile engagement market is expected to increase by many folds in the APAC region owing to the rapid deployment of mobile telecommunication infrastructure and the increasing use of smartphones. It is the right time for the companies to adopt the mobile-first strategies.