The global Location Based Advertising market size is expected to be worth around US$ 224.41 billion by 2028, according to a new report by Vision Research Reports.
The global Location Based Advertising market size was valued at US$ 62.34 billion in 2020 and is anticipated to grow at a CAGR of 17.5 % during forecast period 2021 to 2028.
Growing digitalization initiatives among brands and advertisers to promote products and services, proliferation of GPS enabled smartphone usage, and increasing usage of social media and e-commerce sites are aiding the growth of the market for Location Based Advertising (LBA). Mobile applications with location based services have formed a direct link between brands and customers enabling high consumer engagement and increased sales. Moreover, technological advancements in network connectivity such as 5G, proliferation of new data sources, and use of analytics to gain consumer insights is likely to impact the market positively over the forecast period.
As per the recent mobile industry report, in 2020, around 3.5 billion people worldwide were smartphone users, which accounts to about 45% of the world’s population. Similarly, around 49% of the world’s population is active on social media platforms and is anticipated to grow at 8.5% annually. With growing internet, social media, and GPS enabled smartphone penetration, digital advertising has become a significant mode of advertising among marketers. Moreover, prominent players such as Google LLP and Facebook Inc. account for major digital advertisement share of the market and emerged as platform provider for advertisers. However, new players in social media arena are likely to pose competition to existing players owing to their increasing use of location based services for advertising purposes. For instance, in March 2018, Snapchat introduced location based advertisement targeting that will help advertisers to target advertisements based on a radius around a specific geographic area. Snapchat’s move is likely to be followed by other social media platforms and anticipated to boost the location based advertising.
Multimedia location based advertising tools such as online search engines and social media platforms is anticipated to improve the footfall of local businesses. The industry survey states that in 2019 there were around 2.95 billion people using social media and the number is likely to increase to 3.43 billion by 2023. The proliferation of advertisement and marketing is apparent on various social media sites such as Facebook, YouTube, Instagram, Snapchat, and Twitter. Moreover, the movement towards free LBS by social media giant such as Google LLP and Facebook Inc. owing to shift in the business model from monthly subscriptions to the bundling of the services is likely to boost the segment growth in LBA market.
The retail industry has also been increasingly developing channels to reach consumers effectively. Among print, radio, TV, and other forms of media, location based marketing has become an innovative tool in the wake of the increasing use of social media platforms. The increasing consumer engagement with brands on different social media channels opens new avenues for marketing campaigns. Owing to the active engagement of users with brands on mobile, personal computers, and tablets fast-moving and consumer goods marketers are able to target consumers effectively. Moreover, with the help of location-based marketing, big brands are focusing on in-store promotions while smaller stores are trying to understand consumer behavior.
The push type of location based advertising accounted for the major share of more than 60.01% in 2019 owing to its commonality among advertisers. Opt-out type of services is the most approaches deployed by advertisers in push advertising to retain consumers. Moreover, push programmatic advertising has been a growing component of advertising technology owing to upcoming technologies such as artificial intelligence, machine learning, digital OOH, and voice search attracting most advertisers. Besides, on account of launching new products or while operating in a niche market; push-type of LBA is likely to witness significant growth in the coming years.
North America accounted for the major revenue share of over 33% in 2019 owing to the early adoption of location based services and advertising solutions. Presence of prominent vendors in the region such as Google LLP and Facebook Inc. are the prime drivers for the growth of the regional LBA market growth. Moreover, Google LLP and Facebook Inc. combined accounted for around 56.7% of the U.S. digital ad revenues in 2018. In addition, as of 2019, around 84% of the total U.S. population accessed the internet and around 60% are social media users. Thus, a high rate of digitization among industries, growth of social media users, and increasing LBS providers is anticipated to foster the LBA market growth in the region.
Near Pte Ltd.
Proximus Mobility, LLC.
The Location Based Advertising market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Location Based Advertising market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Location Based Advertising market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Location Based Advertising market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Location Based Advertising market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Location Based Advertising capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Location Based Advertising by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Location Based Advertising market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Location Based Advertising market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Location Based Advertising market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Location Based Advertising industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Location Based Advertising market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Location Based Advertising market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Location Based Advertising market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Location Based Advertising market. These factors have benefited the growth of the global market for Location Based Advertising. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Location Based Advertising. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Location Based Advertising are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
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