PUBLISHER: The Business Research Company | PRODUCT CODE: 1465819
PUBLISHER: The Business Research Company | PRODUCT CODE: 1465819
Location-based advertising is a form of advertising that seamlessly combines mobile advertising with location-based services. Leveraging technology, this advertising approach accurately determines a consumer's location and delivers location-specific advertisements. This enables organizations to offer personalized content to individuals based on their physical location, enhancing the relevance and effectiveness of the advertising message.
The primary types of location-based advertising encompass geotargeting, geofencing, beaconing, mobile targeting, and geo-conquesting. Geotargeting involves delivering content or advertisements to a specific audience based on their geographical location, determined through methods such as the global positioning system, internet protocol addresses, or device information. Various advertisement types include push and pull advertising, utilized for promotions such as banner displays, pop-up promotions, video promotions, search result promotions, emails and messages, social media content promotions, and voice-calling promotions. Geotargeting finds applications in retail outlets, public spaces, airports, and other areas, catering to diverse industry verticals including retail, hospitality, healthcare, banking, financial services and insurance (BFSI), education, technology and media, transportation and logistics, automotive, among others.
The location-based advertising research report is one of a series of new reports from The Business Research Company that provides location-based advertising market statistics, including the location-based advertising industry's global market size, regional shares, competitors with an location-based advertising market share, detailed location-based advertising market segments, market trends and opportunities, and any further data you may need to thrive in the location-based advertising industry. This location-based advertising market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The location-based advertising market size has grown rapidly in recent years. It will grow from $105.74 billion in 2023 to $123.34 billion in 2024 at a compound annual growth rate (CAGR) of 16.6%. The growth observed in the historical period can be attributed to several factors, including the ascent of location-based social platforms, the emergence of smart cities and the Internet of Things (IoT), consumer demand for personalized experiences, an increased desire for personalized advertising, and the heightened adoption of dynamic creative optimization (DCO). These factors collectively contributed to the expansion of location-based advertising during that timeframe.
The location-based advertising market size is expected to see rapid growth in the next few years. It will grow to $225.96 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%. The anticipated growth in the forecast period can be attributed to factors such as increased mobile device penetration, widespread adoption of 5G technology, the surge in e-commerce services, the availability of real-time customer location data, and a deeper understanding of customer behavior. Key trends expected in the forecast period encompass advancements in geolocation technology, integration with artificial intelligence (AI) and machine learning (ML), real-time bidding (RTB), augmented reality (AR) advertising, and the utilization of location intelligence platforms. These trends collectively contribute to the evolving landscape of location-based advertising.
The upward trajectory in mobile device usage is anticipated to drive the expansion of the location-based advertising market. Mobile devices, offering continuous internet connectivity, enable location-based advertising through the utilization of global positioning system technology. This facilitates the delivery of targeted and pertinent ads to users based on their real-time geographic location. As of February 2024, Uswitch Limited reported a 3.8% increase in mobile connections in the UK, reaching 71.8 million connections compared to 2021. The projection for 2025 indicates that 95% of the UK's population, approximately 65 million people, will own smartphones, underscoring the substantial impact of mobile device proliferation on the growth of the location-based advertising market.
Prominent players in the location-based advertising market are channeling their efforts into the development of cutting-edge technological solutions, including sophisticated location-based advertising platforms. These platforms, serving as digital marketing tools, harness geographic information sourced from mobile devices or other channels to deliver precise and targeted advertisements. A case in point is the initiative by Moovit, an Israel-based mobile advertising company, which introduced a novel location-based advertising platform in July 2022. This platform empowers brands to engage with transit riders in real-time, enabling advertisers to target Moovit users based on their current location and route points during their journeys. Notably, this advertising platform prioritizes user privacy by adhering to the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), requiring user consent for location tracking with the option to withdraw it at any time.
In October 2021, Reveal Mobile, a US-based software company, acquired Mira Analytics. This acquisition enhances Reveal's capabilities in offering a comprehensive ad tech Software as a Service (SaaS) platform, specifically catering to attribution reports in diverse marketing campaigns. Mira Analytics, a US-based location intelligence startup, specializes in out-of-home (OOH) advertising, contributing to Reveal Mobile's broader positioning in the location-based advertising landscape.
Major companies operating in the location-based advertising market are Google LLC, Microsoft Corporation, Facebook (Meta Platforms Inc.), International Business Machines (IBM) Corporation, Oracle Corporation, Salesforce Inc., Adobe Inc., The Proximus Group, Epsilon Data Management LLC, Yelp Inc., Yext Inc, Telenav Inc., Skyhook Interactive, Foursquare Labs Inc., Near Intelligence Inc., Knorex Inc., Telenity, GroundTruth, PlaceIQ, Emodo (Placecast), Bluedot Innovation, Radar Labs Inc., Enroute Systems Corporation, Verve Group Inc., Telesoft Technologies Ltd., Cuebiq Inc., Cidewalk Technologies Inc., Enradius LLC, Mobiquity Networks Inc, AdMoove SAS, Adello Inc.
North America was the largest region in the location-based advertising market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the location-based advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the location-based advertising market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The location-based advertising market includes revenues earned by entities by providing services, such as location-based analytics, tracking, and place-based targeting. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Location-based Advertising Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on location-based advertising market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for location-based advertising ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The location-based advertising market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.