QR Code Channel for Mobile Marketing Market is Expected to Reach USD 221.82 Billion by 2030
As per the report published by Kings Research, the global QR Code Channel for Mobile Marketing Market was valued at USD 26.05 billion in 2022 and is projected to reach USD 221.82 billion by 2030, growing at a CAGR of 31.36% from 2023 to 2030.
The growing use of mobile devices and increased digitalization have significantly contributed to the growth of the QR code channel for mobile marketing market. The increasing adoption of mobile applications and mobile web, along with the prevalence of social media and advertising, has led to a surge in market revenue.
Moreover, the widespread accessibility of Internet services has fueled the use of smartphones worldwide, thereby providing companies with vast potential for customer reach and engagement. For instance, mobile marketing campaigns integrating social media platforms such as Facebook have shown a significant increase in brand awareness among target demographics.
- Based on the component, the service segment generated the highest revenue of USD 15.41 billion in 2022
- Based on vertical, the retail & e-commerce segment dominated the market, with a share of 33.08% in 2022
- On the basis of region, North America accounted for the largest market share of 39.49% in 2022
QR Code Marketing Helps to Connect Digital Content to Physical Products, Propelling Market Growth
QR code marketing presents a viable means of bridging the digital and physical realms for businesses to realize their campaign objectives in an expedited manner. Furthermore, QR codes facilitate the quantification of campaign performance metrics, which provides scope for scaling as well as the delivery of user-centric content. With its dynamic, editable nature, marketers can tailor content to match user preferences, without having to physically reprint the codes.
Moreover, QR codes can serve as an effective tool for providing instructional content, such as product information, by enabling consumers to access PDFs, online presentations, videos, and even virtual and augmented reality experiences. For Example, a company could use QR codes on its product packaging to link customers to a mobile app with interactive content, leading to higher engagement and more brand awareness.
QR Code Marketing: North America Leads the Way with 39.49% Market Share, But Popularity is Subject to Variability
North America dominated the market in 2022, accounting for the market share of 39.49%. The prevalence of QR code marketing as a mobile marketing technique is notable in the region. However, it is important to recognize that the popularity of this technology as a marketing tool is subject to variability, influenced by diverse factors such as consumer adoption rate, internet accessibility, and the technological landscape.Furthermore, the increasing availability of advanced internet technology and broad public awareness regarding this technology has contributed to the growth of the QR code channel for mobile marketing market in North America.
Market Players Concentrating on Innovative Product Launches to Drive Market Development
The market is fragmented with key players such as Adobe, Salesforce, Inc., Etsy, Inc., Oracle, Airship, SAP, Barcodes, Inc., Iterable, Inc., Kochava, TEC-IT Datenverarbeitung GmbH. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.