QR Code Channel for Mobile Marketing Market
Global Industry Analysis and Forecast 2023-2030
Market Value (2022)
USD 26.05 Billion
Forecasted Value (2030)
USD 221.82 Billion
CAGR (2023 - 2030)
Fastest Growing Region (2023 - 2030)
Retail and eCommerce, Travel and Logistics, Automotive, BFSI, Telecom and IT, Others
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.
Diverse industries have incorporated QR code marketing as a means to optimize their promotional efforts and furnish informative material beyond the confines of traditional marketing practices. These innovative approaches have further enhanced marketing strategies by offering customers rapid access to pertinent data, which is driving QR code channel for mobile marketing market growth.
For instance, a restaurant may incorporate QR codes on their menus that direct customers to reviews of their dishes or to a video showcasing their kitchen and cooking techniques, thereby enhancing the overall dining experience.
QR codes are important tools for mobile marketers, enabling the seamless transfer of data from offline sources to online platforms. However, there are potential limitations to consider when utilizing them. Firstly, QR codes require access to a smartphone, an internet connection, and a QR code reader app, necessitating technical know-how and imposing barriers on less technologically adept users.
Compatibility issues with different devices, browsers, and operating systems, can lead to implementation failures or user difficulties. Insufficiencies in the design, color, or placement of the code may also hinder visibility or allure, resulting in reduced scan rates and inefficient mobile marketing. Lastly, QR codes may not be secure enough when linked to unsecured or dubious online destinations, thus impelling caution when selecting the type of information and the desired online location.
Analyst’s Review on QR Code Channel for Mobile Marketing Market
Supercode's state-of-the-art QR code generator offers a highly intuitive design interface, empowering users to effortlessly generate visually captivating codes that boost their marketing activities, consequently driving the QR code channel for mobile marketing market growth. QR code marketing presents a unique opportunity to bridge the physical and digital realms, enabling businesses to achieve their campaign objectives more efficiently. QR codes essentially serve as a tangible link to the online world, allowing marketers to track and analyze the efficacy of their campaigns, thereby streamlining the scaling process. Significantly, QR codes also provide audiences with easy access to relevant digital content.
An example of QR code marketing is the case of Coca-Cola's QR code billboard campaign during the 2014 World Cup in Brazil. The campaign saw Coke employ QR codes to promote the event, leading to over a million scanned codes and a substantial increase in brand reach.
For example, a retail store may incorporate QR codes on their product packaging that lead customers to a gamified experience or prompt them to leave a review in exchange for a discount, effectively engaging with the audience and boosting the overall sales and retention metrics.
QR codes comprise a square-shaped pattern of black and white dots organized in a matrix that can store diverse types of information, ranging from text and URLs to multimedia files and contact details. To decode the information, an individual needs a smartphone equipped with a camera and a QR code reader app downloadable from app stores.
QR code utilization features several benefits for mobile marketers, including connecting offline and online channels, heightening user engagement, augmenting conversion rates, and enabling superior campaign tracking and measurement. QR codes can link print advertisements, flyers, packaging, or posters to digital content, providing prompt access to pertinent and worthwhile data. Prompting users to act, and generating crucial metadata concerning how many individuals scanned the codes, as well as the location, timing, and subsequent actions taken are a few more features of QR codes.
For instance, a fashion brand may include QR codes on their clothing tags that lead consumers to a virtual lookbook or an inspiring fashion video on their social media channels, enhancing interactivity and online presence.
QR codes provide several benefits to marketers, including the synergy of offline and online channels, a superior user experience, amplified engagement and conversion rates, and more meticulous campaign tracking and measurement. By integrating QR codes into print ads, flyers, packaging, or posters, marketers can deliver prompt access to relevant information, encourage immediate user interaction, and generate valuable metadata on the scanning frequency, location, and timing of consumers.
For instance, a fashion retail store can include QR codes on their ad campaigns that lead consumers to exclusive online discounts or personalized product recommendations, thereby increasing conversion rates and offering a more tailored shopping experience.
Privacy and security concerns are significant impediments to QR code channel for mobile marketing market growth. Governments worldwide have implemented rigorous rules and regulations in response to these concerns. Companies must comply with numerous statutory requirements to ensure the security and privacy of consumers' data. Breaches of these laws can result in significant financial and reputational damage. Adhering to these policies necessitates additional expenditures on data encryption, secure storage, and cyber-security measures.
For example, Google had to pay USD 57 million in fines in 2019 due to a breach of the EU's General Data Protection Regulation (GDPR) by failing to provide sufficient information to users about how their data is collected and used on Android devices, which highlights the importance of being compliant with privacy regulations.
The global QR code channel for mobile marketing market is segmented based on component, vertical, and geography.
Based on the component, the QR code channel for mobile marketing market is bifurcated into services and platforms. The services segment dominated the market in 2022, accounting for 59.16% of the market share. QR codes are a popular choice for marketers in the mobile marketing market as they offer several benefits. Notably, they are easy to use, cost-effective, and highly flexible. By linking QR codes to interactive content such as videos, games, or surveys, marketers can engage consumers and track their behavior, leading to increased brand loyalty.
Additionally, QR codes can be used in a variety of marketing channels, including print ads, posters, and promotional products. They also help marketers provide consumers with more personalized and targeted content and promotions. Overall, the combination of convenience, versatility, and cost-effectiveness makes QR codes a preferable choice for marketers in the mobile marketing industry.
Based on the vertical, the QR code channel for mobile marketing market is segmented into retail and e-commerce, travel and logistics, automotive, BFSI, telecom and IT, and others. The retail and e-commerce segment generated the highest revenue of USD 8.62 billion in 2022. The implementation of QR codes is prevalent in retail and e-commerce as it helps to Influence the target audience via smart devices such as tablets and mobile phones through MMS, SMS, websites, apps, and social media. The technology provides consumers with an accessible medium to engage with businesses and acquire pertinent information via their mobile devices. It is also regarded as an economical marketing tool, enabling businesses to monitor user engagement and activities, leading to improved campaign targeting and optimization.
Additionally, the versatility of QR codes enables their application in diverse marketing domains, including print ads, posters, and promotional products. Finally, QR codes offer businesses an opportunity to design personalized and interactive encounters with users, thereby fostering brand loyalty. As a result, retail and e-commerce players have been increasingly enthusiastic about QR codes as a preferred mobile marketing strategy.
Based on regional analysis, the global QR code channel for mobile marketing market is classified into North America, Europe, Asia Pacific, MEA, and Latin America.
North America dominated the market and generated a revenue of USD 10.29 billion in 2022. Furthermore, the region is projected to maintain its rapid growth with the highest CAGR of 31.15% from 2022 to 2030. The U.S. secured the largest market share of 73.03% in 2022 due to a well-developed economy and consumer awareness regarding the use of QR code channels for mobile marketing, propelling the market growth.
The global QR code channel for mobile marketing industry study report will provide valuable insight with an emphasis on the fragmented nature of the global market. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their respective market shares across different regions. Expansion & investments involve a range of strategic initiatives including investments in R&D activities, new manufacturing facilities, and supply chain optimization. The major players in the QR code channel for mobile marketing market are
- Salesforce, Inc.
- Etsy, Inc.
- Barcodes, Inc.
- Iterable, Inc.
- TEC-IT Datenverarbeitung GmbH
The global QR Code Channel for Mobile Marketing Market is segmented as:
- Retail and E-commerce
- Travel and Logistics
- Telecom and IT
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- North Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America