The QR code channel for mobile marketing market has experienced impressive growth, rising from $36.03 billion in 2023 to $48.18 billion in 2024, reflecting a remarkable compound annual growth rate (CAGR) of 33.8%. This significant increase is attributed to the widespread use of mobile applications, the growing popularity of mobile marketing, enhanced digitalization and internet accessibility, and improved conversion rates and offerings. The market is set for exponential growth, anticipated to reach $155.46 billion by 2028, at a CAGR of 34.0%. This forecasted growth is driven by heightened awareness of QR codes, increasing demand for mobile marketing platforms, a surge in interactive marketing needs, stronger data protection efforts, and rising smartphone adoption. Major trends include advancements in technology, product innovations, AI integration, innovative design, enhanced QR code security, cross-channel marketing innovations, and the evolution of QR code payment solutions.
Major Driver In The QR Code Channel For Mobile Market
The growth of the QR code channel for mobile marketing is expected to accelerate with the increasing use of smartphones. These devices, which merge traditional phone functions with advanced computing capabilities, are becoming ubiquitous due to their affordability and the widespread availability of high-speed internet. QR codes provide an effective tool for mobile marketing by enabling marketers to deliver targeted content and promotions directly to consumers. Iron Source estimates that smartphone penetration in Japan will exceed 94% of the population by 2027. This rise in smartphone usage is driving the expansion of the QR code channel for mobile marketing.
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QR Code Channel For Mobile Market Competitive Landscape
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., Marketo Inc., Iterable Inc., Barcodes Inc., Vibes Media LLC, TEC-IT Datenverarbeitung GmbH
Key QR Code Channel For Mobile Market Trend
In the QR code channel for mobile marketing, companies are embracing next-generation conversational AI platforms to enhance customer engagement. In May 2024, Verses AI Inc. introduced a QR code capability for its Verse Capture platform, allowing users to interact with brands through conversational AI. This feature facilitates lead generation and provides businesses with valuable insights into campaign effectiveness.
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QR Code Channel For Mobile Market Segmentation
The QR code channel for mobile marketing market covered in this report is segmented –
1) By Component: Services, Platform
2) By Enterprise Size: Large Enterprises, Small And Medium Enterprises
3) By Vertical: Retail And E-Commerce, Travel And Logistics, Automotive, Banking, Financial Services And Insurance, Telecom And Information Technology, Other Verticals
By Geography:The regions covered in the QR code channel for mobile marketing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the QR code channel for mobile marketing market in 2023.
The QR Code Channel For Mobile Global Market Report 2024 furnishes information about the global qr code channel for mobile market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
