Dubai, UAE, Nov. 02, 2023 (GLOBE NEWSWIRE) -- As per the latest report released by Kings Research, the global QR Code Channel for Mobile Marketing Market size was recorded at USD 26.05 billion in 2022 and is estimated to reach USD 221.82 billion by 2030, exhibiting a CAGR of 31.36% over 2023-2030. The industry has grown tremendously in recent years as a result of rising mobile device usage and enhanced digitalization. Furthermore, the growing popularity of mobile applications, mobile web, social media, and advertising is likely to support market growth.
A square-shaped pattern of black and white dots arranged in a matrix forms a QR code. This pattern can store a variety of data, including text, URLs, multimedia files, and contact information. An individual needs a smartphone with a camera and a QR code reader app that can be downloaded from app stores in order to interpret the information. Numerous sectors have adopted QR code marketing as a way to enhance their marketing initiatives and provide information that is outside the parameters of conventional marketing techniques. By providing customers with quick access to relevant information, these cutting-edge tactics have further improved marketing strategies and fueled the expansion of the QR code channel for mobile marketing.
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Trending Now: Big Issue Introduces Custom QR Codes and Personal Web Pages for Selected Vendors
Big Issue magazine sellers can now share their personal QR codes for customers to scan, leading them to a customized webpage to learn about the vendor's story and set up a subscription. This effort is part of Big Issue's broader campaign, 'The Street is My Store,' highlighting vendor self-employment. The campaign features a mural in London's East End envisioning a Big Issue shop on a typical high street.
Vendors purchase magazines at a cost of £2 and sell them for £4, while online subscriptions play a pivotal role in providing consistent, regular income. The initiative has contributed to a 10% spike in vendor numbers due to the rising cost of living.
Competitive Landscape
The global QR code channel for mobile marketing industry is highly competitive with the presence of key companies leading the market. These businesses are employing several growth strategies in order to gain a competitive edge such as mergers and acquisitions, collaborations, and product launches, among others.
Prominent companies in the global QR code channel for mobile marketing market include:
- Adobe
- Salesforce, Inc.
- Etsy, Inc.
- Oracle
- Airship
- Barcodes, Inc.
- Iterable, Inc.
- Kochava
- TEC-IT Datenverarbeitung GmbH
- SAP
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The global QR Code Channel for Mobile Marketing Market is segmented as:
By Component
- Services
- Platform
Marketers’ Growing Preference for QR Code Services to Aid Market Development
Based on component, the services segment led the global QR code channel for mobile marketing market in 2022 and is expected to grow at a CAGR of 32.14% over 2023-2030. This segmental growth is attributable to the increased preference of marketers towards QR codes due to its numerous characteristics, such as ease of use, affordability, and adaptability. Marketers can actively interact with consumers, track their behavior, and thereby increase brand loyalty by using QR codes, along with interactive content such as videos, games, or surveys.
Furthermore, QR codes can be applied to a range of marketing mediums, such as print advertisements, posters, and promotional merchandise. Additionally, they assist advertisers in offering customers deals and content that is more personalized and targeted, which is ultimately driving segment growth.
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By Vertical
- Retail and E-commerce
- Travel and Logistics
- Automotive
- BFSI
- Telecom and IT
- Others
Use of QR Codes in Retail and E-commerce Segment to Rise as it Allows to Influence Target Market
Based on vertical, the retail and e-commerce segment is anticipated to account for the largest share of the global QR code channel for mobile marketing market, accruing a valuation of USD 88.57 billion by 2030. The use of QR codes is widespread in e-commerce and retail as they allow businesses to influence their target audience through social media, apps, websites, and mobile devices such as tablets and smartphones that support MMS and SMS.
With the use of this technology, customers now have a convenient way to interact with companies and get useful information on the go. Furthermore, it is recognized as a cost-effective marketing tool that allows companies to monitor user engagement and activities, thus improving campaign targeting and optimization.
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Widespread use of QR Code Marketing for Linking Digital Content with Physical Goods to Drive Market Growth
Businesses can achieve their campaign objectives by linking the digital and physical worlds using QR code marketing. Additionally, QR codes make it easier to quantify campaign performance indicators, opening up opportunities for scaling and the distribution of user-focused content. Without having to physically reprint the codes, marketers can personalize content to reflect customer preferences due to its dynamic, customizable nature.
Furthermore, by allowing users to access PDFs, videos, online presentations, and even AR and VR experiences, QR codes can be a useful tool for distributing informational content, such as product information. For instance, a business may link clients to a smartphone app with interactive content using QR codes on the product packaging, increasing engagement and brand exposure.
Rising Adoption of QR Code Marketing as a Mobile Marketing Strategy to Boost Market Progress in North America
North America is projected to dominate the QR code channel for mobile marketing market in the upcoming years, accounting for a revenue of USD 87.75 billion by 2030. This growth is primarily attributable to the rising use of QR code marketing as a mobile marketing strategy. Nonetheless, the acceptance of this technology as a marketing tool can vary due to several factors, such as how quickly consumers adopt it, internet availability, and the overall technological environment.
Moreover, the rising presence of high-speed internet technology and widespread public familiarity with this technology have played a vital role in the expansion of the QR code channel for mobile marketing in the region.
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Key Points from TOC:
1 Introduction of the Global QR Code Channel For Mobile Marketing Market
2 Executive Summary
3 Research Methodology
4 Global QR Code Channel For Mobile Marketing Market Outlook
5 Impact Of Russia-Ukraine War
6 Global QR Code Channel For Mobile Marketing Market, By Component
7 Global QR Code Channel For Mobile Marketing Market, By Vertical
8 Global QR Code Channel For Mobile Marketing Market, By Geography
9 North America
10 Europe
11 Asia-Pacific
12 Middle East & Africa
13 Latin America
14 Global QR Code Channel For Mobile Marketing Market Competitive Landscape
15 Company Profiles
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