Push Notifications Software Market Size, Industry Analysis Report, Regional Outlook, Industrial analysis report, Growth Potential, 2020 - 2026
Report ID: GMI4664
Push Notifications Software Market size is anticipated to rise at a considerable rate during the forecast period, as the software can help stimulate user engagement, retain users, value addition to users, and increase conversion rates for companies across the spectrum. Push notifications provide value and convenience to users by showing utility messages on their lock screens, for instance, a particular app can show users flight delays, traffic delays or weather reports, which will help customers in planning better.
Opportunity showcasing message is the most ideal approach to expand transformation rates since it can advise clients or make a sense of urgency to move quickly. La Redoute, a French company, has also implemented push notifications as a mechanism to counter the problem of abandoned carts without final purchase. La Redoute sends notifications to consumers if they leave the store with items still in their carts, and using this, the company has increased its retargeting click through rate by two to three times compared to classic mobile ads.
For application distributers, push notifications provide a mechanism to talk directly to a client. Messages do not get lost in spam channels, or filters or overlooked in an inbox. The click through rates can be twice as high as emails. Push notifications remind clients to utilize an application, regardless of whether the application is open or not. Push notifications can also be utilized to drive activities, such as promotion offers, to expand deals, which can animate client commitment.
The push notifications software market based on components is divided into software and services. Push notification software helps businesses send messages directly to a customer’s computer or mobile device. Push notification software allows for the complete customization of a message’s images and text directly within the platform. These tools also offer detailed analytics, enabling a business to monitor data such as delivery rates and click-through rates of its messages. The leading companies are providing services of push notifications, which can be helpful for smaller businesses, as the cost of implementation is high, and the services require a certain degree of technical expertise. For instance, Amazon Simple Notification Service (SNS) has been going on since 2010, and it is compatible with AWS (Amazon web services). It also allows app owners to push notifications to several platforms such as Android, Windows, iOS, etc. Sending one million push notifications on Amazon SNS costs $1.00. With its free tier, the company offers first million notifications for free every month.
Based on deployment model, the push notifications software market is segmented into on-premise model and cloud model. Companies using public or private cloud systems can face some issues with achieving full compliance. Cloud model has characteristics, such as flexibility to access and efficiency in process or infrastructure, and cloud services are also less expensive, so push notification software models are mostly deployed on cloud model.
On the basis of end use, the market is segmented into retail, BFSI, mass media, travel, and hospitality. The BFSI industry traditionally used cold calling or email marketing to upsell its products. Now, the BFSI industry is also catching up with this trend, and instead of using conventional marketing methods, the industry has adopted browser push notifications in order to elevate its user engagement and therefore target users who visited its website without completing the transaction. Various retail outlets have also started implementing push notification software, benefitting the industry in a significant manner. For instance, in 2018, Buy Whole Foods Online in its first push notification, offered a 17% discount on one of its bestselling products, Ecover Non-Bio Washing Powder. The notification was delivered to 736 subscribers. 49 of them clicked through. Majority of these customers completed the purchase.
Based on enterprise size, the market has been segmented into Small and Medium size Enterprises (SMEs) and large enterprises. The market for SMEs is expected to grow at a higher CAGR during the forecast period. An increasing number of vendors are likely to come up with solutions specifically to cater to the demands of SMEs.
North America along with Asia is expected to see a major growth in the push notifications software market by 2026. In 2020, the maximum number of smartphone users are in China, followed by India and then the U.S. Therefore, the market for push notifications software in Asia Pacific and North America will see a major boost in the coming years.
The major players in the push notifications software market are providing services to smaller businesses at cheaper rates, which is not only helping the business for client outreach but also resulting in the growth of the market. Some of the key market players are AbstractBrain, Amazon Web Services, BRAZE, Leanplum, NotifyVisitors, OneSignal, Pushwoosh, PushBots, PushAssist, PushEngage, Swrve, SendPulse, WebEngage, Wingify, and WebEngage.
Market by Component, 2015-2026 (USD Million)
Market by Enterprise Size, 2015-2026 (USD Million)
- Large Enterprises
- Small and Medium Enterprises (SME)
Market by Deployment Model, 2015-2026 (USD Million)
Market by End User, 2015-2026 (USD Million)
- Mass Media
The above information has been provided for the following regions and countries:
- North America
- Australia & New Zealand (ANZ)
- South Korea
- Southeast Asia
- Latin America
- South Africa
- Saudi Arabia
- Amazon Web Services
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