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Push Notifications Software Market size is set to experience substantial growth from 2021 to 2027 on account of the rising need to increase the conversion rates and the consistent demand for e-marketing. Push notifications not only help users with convenience and value as they show the utility messages on their locked screens but also assist application distributors in providing mechanisms to talk directly to their clients.
Increasing usage across a host of business arenas along with the growing popularity of mobile-based social media apps are other impact rendering prospects for the industry size expansion.
On the basis of components, the push notifications software market is identified across software and services. The software segment is likely to witness growth at a significant rate through 2027 with the growing requirement for detailed analytics, as well as optimum message delivery and click-through rates mainly across smaller businesses. The increasing penetration of digital technology in commercial applications will also add to the market expansion.
Based on deployment model, the cloud model is anticipated to witness lucrative growth due to the extensive need for affordability, flexibility, ease of access, and efficiency in business processes.
In terms of end-use, the push notifications software market is classified across retail, BFSI, mass media, travel, and hospitality sectors. Among these, the BSFI sector will record substantial gains with the higher incorporation of Browser Push Notifications (BPN). The software is widely used in effective communication, lead generation, customer retention, and the acquisition of newer users across the BFSI applications.
Based on the enterprise size, the industry revenue from SMEs will garner substantial traction through 2027 with growing need for effective communication channels. A large number of SMEs, including CouponzGuru, are using web push notifications over emails to get enhanced results.
Regionally, North America will be contribute substantially to industry growth owing to the increasing usage of advertising tools and the rise in the number of small businesses. It has been estimated that there are over 28 million small businesses in the U.S.
The demand for push notifications software market in APAC will expand with the surge in the number of smartphone users across the region. As per reports, India is likely to have more than 820 million smartphone users by 2022.
Inorganic marketing strategies, such as partnerships, acquisitions, mergers, and investments along with persistent technological advancements to bring innovations are some of the key initiatives employed by market players to sustain competition.
For instance, in April 2021, OneSignal Inc., announced its strategic investment from HubSpot, a prominent CRM software platform, to accelerate omnichannel marketing automation solutions for customers. The collaboration will give HubSpot's substantial customer base access to mobile and web push notifications.
Likewise, in October 2020, Awesome Motive acquired PushEngage, in an undisclosed deal to build deeper integration with numerous Awesome Motive products and popular platforms, including WordPress, WooCommerce, Shopify, and MemberPress.
Swrve, WebEngage, Amazon Web Services, Pushwoosh, WebEngage, PushBots, AbstractBrain, PushAssist, Leanplum, Wingify, SendPulse, NotifyVisitors, and BRAZE are some of the other major industry participants.
The ongoing COVID-19 pandemic caused havoc on the global economy, as it brought the closure of multiple industries and public gatherings. The arrival of the quarantine and social distancing norms largely transformed the consumer interaction patterns both personally and professionally, forcing them to adapt to various brand -new realities.
However, these barriers imposed a positive outlook on the push notifications software market as businesses increasingly turned to messages to update on their operational changes as well as special discounts on products and deliveries. Push notifications are considered a great resource for communication amidst the pandemic. For instance, after the World Health Organization (WHO) announced the coronavirus as a global crisis, RBC instantly responded with two push notifications to all its clients.