Pune, India, Dec. 23, 2021 (GLOBE NEWSWIRE) -- The global location-based advertising market size is expected to showcase substantial growth owing to the rising e-commerce platforms and the increasing adoption of advanced technologies that will drive the demand for innovative location-based advertising solutions and services across the globe. Fortune Business Insights published this information in its upcoming report, titled, “Location-based Advertising Market size, share & industry analysis, By Component (Solution, Services), By Location (Indoor, Outdoor), By End-user Industry (Retail and E-Commerce, Hospitality, Transportation and Logistics, Automobiles, Real Estate, Others) and regional forecast 2021-2028.’
The effect of the global pandemic, COVID-19, has been felt across several economies that are facing unprecedented loss. Owing to the lockdown announced by the government agencies, several industries have been on a standstill with limited operational activities. However, a collective effort from the government as well as the industries is likely to bring the economy back on track and aid in resumption of industrial activities.
Location-based advertising solutions presents advertisers a unique platform, wherein they can provide personalized messages to the people based on their location. These services enable the businesses to customize their product offerings taking into consideration the demographics to improve sales and consumer engagement.
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What does the Report Include?
The Location based Advertising Market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to announce partnerships, introduce new products, and collaboration that will further contribute to the growth of the market between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies such as SWOT and PESTEL analysis to extract information about the current trends and industry developments that will drive the market growth during the forecast period.
DRIVING FACTORS
Rising E-commerce Sector to Accelerate Growth
The COVID-19 pandemic has led to drastic changes in the lives and livelihoods of people across the globe. In this scenario, businesses have increased their focus on taking care of their people and customers and are developing their strategies to meet the evolving consumer habits. This has led to the rising e-commerce sector as more and more people are adopting digital sources to fulfill their needs. For instance, according to a 2019 marketing report by Factual, 9 out of 10 businesses were of the view that location-based advertising services lead to increased customer engagement and sales backed by the increasing adoption of online platforms. Moreover, high adoption of modern technologies such as the internet of things (IoT) is expected to favor the global location-based advertising market growth in the forthcoming years.
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REGIONAL INSIGHTS
Presence of Established IT Infrastructure in North America to Aid Growth
Among all the regions, North America is expected to hold the highest position in the global location-based advertising market during the forecast period. This is ascribable to factors such as the presence of well-established IT infrastructure that propels the demand for advanced location-based advertising services in countries such as the U.S. in the region between 2020 and 2027.
Europe, on the other hand, is expected to hold the second position in the market in the forthcoming years. This is attributable to the imposition of laws and regulations by the European Union (EU) regarding general data protection that is likely to favor the adoption of advanced location-based advertising solutions in the region.
COMPETITIVE LANDSCAPE
Key Players Focus on Merger Strategies to Expand Their Product Portfolio & Boost Sales Revenue
Global location-based advertising is consolidated by the presence of major companies that are merging with other companies to expand their location-based advertising solutions to secure their footprint across different horizons. Moreover, other key players are adopting strategies such as the introduction of new products, partnerships, and collaboration to maintain their strongholds that will favor Location-based Advertising Market growth.
Industry Development:
April 2020 - Factual, the location-based data solutions provider in California, United States, announced its merger with Foursquare. The merger is aimed at strengthening their position in the global market for location-based advertising.
List of the Companies Operating in the Global Location-based Advertising Market:
- xAd, Inc. dba GroundTruth.
- AdMoove
- AdNear.
- Foursquare
- Alphabet Inc.
- Proximus
- Scanbuy, Inc.
- Shopkick, Inc.
- YOOSE Pte. Ltd.
- Aislelabs
- IBM Corporation
- Others
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