How Has the QR Code Channel For Mobile Marketing Market Size Evolved in Recent Years?
The qr code channel for mobile marketing market has seen considerable growth due to a variety of factors.
• The QR code channel for mobile marketing market has surged in recent years. It is expected to grow from $48.18 billion in 2024 to $64.71 billion in 2025, with a compound annual growth rate (CAGR) of 34.3%.
This expansion is due to the rising use of mobile applications, increased interest in mobile marketing, the growing digitalization of services, and higher conversion rates.
What are the Market Size and Expected Growth Rates for the QR Code Channel For Mobile Marketing Market?
The qr code channel for mobile marketing market is expected to maintain its strong growth trajectory in upcoming years.
• The QR code channel for mobile marketing market is expected to grow to $207.99 billion by 2029 at a CAGR of 33.9%.
This growth is attributed to rising awareness of QR codes, mobile marketing demand, and smartphone adoption. Key trends include technological advancements, AI integration, and the development of QR code payment solutions.
Which Key Drivers Are Propelling The QR Code Channel For Mobile Marketing Market's Growth?
The growth of the QR code channel for mobile marketing is anticipated to be fueled by the rising use of smartphones. These mobile devices pair traditional mobile phone functions with enhanced computing abilities. The surge in smartphone usage is linked to factors such as the availability of affordable gadgets with sophisticated features and functions and broader access to speedy internet connectivity, resulting in increased use for communication, entertainment, and productivity. QR codes serve as a flexible and handy instrument for mobile marketing, enabling marketers to give targeted content, promotions, and transactions directly to consumers' smartphones, thus increasing user engagement and conversion. For example, Iron Source, a software company based in Israel, projected in August 2022 that by 2027, the number of smartphone users in Japan would surpass 94% of the population, equating to 115.5 million users. Hence, the escalating usage of smartphones is spurring the growth of the quick response code channel for mobile marketing market.
What Are The Key Segments Within The Global QR Code Channel For Mobile Marketing Market?
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
Subsegments:
1) By Services: QR Code Generation Services, QR Code Scanning Services, Analytics And Reporting Services, Campaign Management Services, QR Code Customization Services
2) By Platform: Cloud-Based Platforms, On-Premise Platforms, QR Code Management Platforms, Mobile Marketing Automation Platforms
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Which Emerging Market Trends Are Altering The QR Code Channel For Mobile Marketing Industry?
Top companies in the mobile marketing market utilizing the QR code channel are concentrating their efforts on creating innovative solutions, including conversational AI platforms of the next generation, in order to retain their market standing. These next-gen conversational AI platforms use the latest technologies to facilitate interactions that are both natural and human-like between users and machines. For example, in May 2024, Verses AI Inc., a software firm based in Canada, debuted a fast response code capability for Verse Capture. This function enables customers to scan a QR code, allowing them to start an AI-driven text conversation with the brand immediately. This technology can obtain contact information and other user details, helping businesses generate a lead pipeline, while also aiding in assessing the effectiveness of their initiatives.
Who Are the Key Players In The QR Code Channel For Mobile Marketing Market?
Major companies operating in the QR code channel for mobile marketing market are:
• 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
What Are The Regional Insights Into The QR Code Channel For Mobile Marketing Market?
North America was the largest region in the QR code channel for mobile marketing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the QR code channel for mobile marketing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
