The mobile marketing industry is predicted to generate $184.5 million this year, new data has revealed.

According to Future Market Insights (FMI), this rapid growth is driven by technology advancements, consumer behaviour shifts, and global expansion.

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As a result, the market is set to be worth $1.4 billion in 2034, the report revealed.

It added that the number of mobile users will surpass seven billion by 2025 and with a 22% market share, the mobile web segment will dominate mobile marketing by 2024.

FMI Managing Director Sudip Saha said: “Mobile marketing will become a huge industry with the rise of smartphones and the integration of new technologies in the market. With the advent of digital marketing and high-speed Internet, demand for mobile marketing has increased.”

The news comes as Reddit’s Head of Mid Market UK, Hannah Walker, predicted the era of categorising consumers solely by age may be drawing to an end this year.

According to Walker, who has been with the social media giant since October last year, consumers, regardless of their age, are increasingly breaking away from societal norms.