Global QR Code Channel for Mobile Marketing Market Size By Component (Services and Platform), Vertical (Retail and E-commerce, Travel and Logistics, Automotive, BFSI, Telecom and IT, and Others), and Region - Market Share, Trend Analysis, Competitive Intelligence, Historical Data, and Forecast 2023 - 2030

Market Perspective

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.

QR codes have emerged as a powerful tool for mobile marketing, providing a seamless and interactive channel for businesses to engage with their customers. These codes, when scanned using a smartphone, direct users to specific web pages, apps, or promotional content. With their versatility and ease of use, QR codes enable businesses to deliver targeted marketing messages, discount offers, product information, and other content directly to the consumer's mobile device. This creates an immediate and personalized connection, allowing businesses to effectively track customer engagement and gather valuable data for future marketing campaigns. The QR code channel has become an essential component of modern mobile marketing strategies, enhancing customer experiences and driving business growth.

The market is a dynamic industry that relies on quick response (QR) codes as a means to seamlessly connect offline and online platforms. These two-dimensional barcodes are widely used in various industries, offering a versatile solution for marketers to engage with their audience. QR codes can be scanned using smartphones that are equipped with a camera and a QR code reader app, both of which are widely available. There are various applications across diverse sectors including retail and e-commerce, hospitality, and entertainment to which the market caters. Key factors supporting this growth include the growing demand for interactive marketing, the need for enhanced user engagement, and the ability to track and measure campaign performance effectively.

Key Insights

• On the basis of component, the services segment is expected to witness substantial growth over the forecast period with a CAGR of 32.14%
• Based on vertical, the retail and e-commerce segment acquired the largest market share of 33.08% in 2022
• On the basis of region, North America accounted for the largest market share of 39.49% in 2022

Growing Demand for Interactive Marketing to Drive QR Code Channel for Mobile Marketing Market Growth

The growing demand for interactive marketing is fostering market growth. Marketers are increasingly looking for ways to engage with their target audience in a more interactive and immersive manner. QR codes enable this by providing a bridge between physical and digital marketing channels. They allow users to access additional content, such as videos, games, or surveys, simply by scanning the code with their smartphones. This interactive element not only enhances user engagement but also provides valuable data for marketers to tailor their campaigns effectively.

Privacy and Security Concerns Hamper Market Growth

Concerns regarding privacy and security are hindering market growth. With the increasing use of QR codes, there is a growing need to safeguard user data and ensure the security of the information linked to these codes. Privacy regulations have been implemented by governments worldwide, and companies must comply with these regulations, leading to additional expenditures on data encryption, secure storage, and cybersecurity measures. Breaches of these laws can result in substantial financial and reputational damage, making privacy and security a critical issue in the adoption and implementation of QR code-based marketing strategies.

Recent Developments

October 2022: Adobe unveiled the latest advancements in Adobe Express, a user-friendly web and mobile tool for creating, editing, and sharing exceptional content. From students to small business owners and creative professionals, this tool empowers users to easily design logos, develop social media campaigns, update resumes, create flyers and banners, and excel in school projects.

Segmentation Analysis

Based on components, the market is segmented into services and platforms. The services segment dominated the market with a share of 59.16% in 2022 owing to its pivotal role in offering a wide range of solutions to businesses. Services in the QR code channel for the mobile marketing market encompass not only QR code generation but also analytics, campaign management, and customer engagement services. Businesses leverage these services to create and manage QR code campaigns effectively, monitor user engagement and interaction, and optimize their marketing strategies. With the increasing demand for QR code-based marketing, the services segment experienced robust growth, offering a comprehensive suite of solutions to meet diverse industry requisites and use cases.

Based on vertical, the market is classified into retail and e-commerce, travel and logistics, automotive, BFSI, telecom and IT, and others. The retail and e-commerce segment is expected to be the fastest-growing region, depicting a CAGR of 34.39% through the projected period, mainly fueled by the thriving e-commerce landscape and the increasing adoption of QR code-based marketing. In the retail and e-commerce sectors, QR codes play a crucial role in providing consumers with means to engage with businesses and access relevant information through their mobile devices. These industries are constantly looking for cost-effective marketing tools that allow them to monitor user engagement and activities, leading to improved campaign targeting and optimization. The versatility of QR codes further enables personalized and interactive experiences for consumers, fostering brand loyalty in the highly competitive retail and e-commerce space.

North America Held the Largest Market Share of 39.49% Backed by Rising Consumer Awareness

North America dominated the market in 2022 with the highest revenue of USD 10.28 billion, largely driven by its well-developed economy and high consumer awareness regarding the use of the QR code channel for mobile marketing. The region's robust infrastructure, widespread smartphone penetration, and tech-savvy population have made it an ideal environment for the implementation of QR code-based marketing strategies. Marketers in North America have been quick to adopt this technology to connect offline and online channels, enhance user engagement, and gather valuable data for campaign analysis. The well-established corporate sector in North America has further contributed to the adoption of QR codes for various marketing initiatives, solidifying the region's leading position in the market.

Asia Pacific to Emerge as the Fastest-Growing Region Over 2023 to 2030 Due to Growing E-Commerce Sector

Asia Pacific is likely to grow at the highest CAGR of 34.95% over the projected period. This rapid growth can be attributed to several factors, including the increasing adoption of smartphones, the growing e-commerce sector, and a rising awareness of QR code-based marketing strategies. As the middle-class population expands and gains access to mobile technology in countries such as China and India, the demand for innovative marketing solutions such as QR codes has surged. Additionally, businesses in the region are keen to leverage the cost-effectiveness and versatility of QR codes to connect with their target audience and drive engagement. These factors contribute to establishing Asia-Pacific as a leading market for QR code-based mobile marketing, with a promising outlook for future growth.

Competitive Landscape

The global QR code channel for mobile marketing market is fragmented with key players such as Adobe, Salesforce, Inc., Etsy, Inc., Oracle, Airship, SAP SE, Barcodes, Inc., Iterable, Inc., Kochava, and TEC-IT Datenverarbeitung GmbH, amongst others. 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.

The QR Code Channel For Mobile Marketing Market is segmented as follows:

By Component

• Services
• Platform

By Vertical

• Retail and E-commerce
• Travel and Logistics
• Automotive
• BFSI
• Telecom and IT
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Middle East & Africa
  • GCC
  • South Africa
  • North America
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America