The global mobile messaging market size is set to reach US$ 101.41 billion in 2023. Overall sales of mobile messaging are likely to surge at 15.9% CAGR, taking the forecasted market valuation to US$ 443.53 billion by the end of 2033.
Companies push their inspirational and educational content through portal and website links, including the app’s push notification and WhatsApp for business platforms. A study shows that almost 109 countries run texting campaigns for end users. There is a set number of mobile texting consumers who are not tech-savvy, and mobile texting is the only way that they connect with each other and share information, fuelling the demand for mobile texting services.
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Brands also use social media messenger in order to reach the end-users and send informative, life and technology hacks that engage with a lot of potential customers. This also helps the mobile messaging market is expanding its roots in new market spaces.
The USA has one of the highest smartphone penetration rates in the world, with around 81% of adults owning a smartphone as of 2021. With the increasing availability and affordability of smartphones, more people have access to text messaging, driving the demand for mobile messaging.
Key Takeaways from the Mobile Messaging Market Report:
The Microlearning Market Report highlights significant growth in the mobile messaging market, with short messaging services projected to grow at a rapid CAGR of 24%, reaching US$ 340.07 billion. Multiple messaging services are also expected to see strong growth, with a CAGR of 18.2%, while the mobile email segment will grow at 21.3%. The United States is set to achieve a market size of US$ 55.79 billion by 2032. China’s Master recharge APIs market will reach US$ 217.15 billion, growing at a 28.7% CAGR. Canada's market is expected to thrive at a 20.9% CAGR, Japan's at 18%, and Germany, the largest consumer in Europe, at 19.6% CAGR between 2022 and 2032.
Competitive Landscape:
The mobile messaging market is highly competitive, and the market players have adopted various strategies to gain a larger market share. Here are a few examples:
Innovation and diversification: Players in the market such as WhatsApp and WeChat have been able to differentiate themselves by constantly innovating and diversifying their services. For example, WhatsApp introduced its Business API, which enables businesses to send automated messages to their customers, providing a new way for businesses to engage with their customers. Similarly, WeChat offers a wide range of services such as mobile payments, social networking, and e-commerce, making it a one-stop-shop for its users.
Emphasizing data privacy and security: Given the growing concerns around data privacy and security, market players such as Signal and Telegram have differentiated themselves by emphasizing their strong encryption and privacy features. Signal has been able to attract a loyal user base by positioning itself as the most secure mobile messenger in the market.
Targeting specific demographics: Some market players differentiate themselves by targeting specific demographics. For example, Kik, a mobile messenger popular among teenagers in the USA, offers features such as anonymous usernames and group chats, which appeal to its young user base.
Providing customization and personalization: Market players such as Line and KakaoTalk have differentiated themselves by providing a high degree of customization and personalization. Line, for example, offers a wide range of stickers and emojis that users can use to express themselves, while KakaoTalk allows users to customize their chat rooms with different backgrounds and themes.
Integration with third-party services: Market players such as Slack and Microsoft Teams differentiate themselves by offering integration with third-party services such as Google Drive and Trello. This enables users to work seamlessly across different platforms, providing a more comprehensive solution.
