The latest report published by IMARC Group, titled “Location Based Advertising (LBA) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on Location Based Advertising (LBA) market trends. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global location-based advertising (LBA) market is expected to exhibit a CAGR of 13.20% during 2022-2027.
Location based advertising (LBA) represents a form of advertising that usually allows businesses to offer location-specific advertisements on mobile devices. It provides relevant information regarding several products and enables marketers to reach a particular target audience by creating new campaigns. In line with this, location-based advertising aids in generating a considerably higher return than conventional mobile advertising solutions. Consequently, it finds wide-ranging applications in various industries across the globe.
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Market Trends:
The inflating digitalization levels and the escalating demand for global positioning system (GPS)-enabled smartphones and other digital devices are among the key factors stimulating the location-based advertising (LBA) market. Moreover, the growing need for regular maintenance and repairs and numerous associated drawbacks of billboard advertising, including higher costs, are acting as significant growth-inducing factors. Besides this, the widespread adoption of graphics or images instead of text which can result in limited information by billboards and the emerging trend of smart cities are positively influencing the global market. Furthermore, the rising utilization of LBA, as it offers flexibility concerning the content, as misplaced, expired, and out-of-date information can be replaced quickly by remote access, is also propelling the market growth. Apart from this, continuous technological advancements and the elevating popularity of social media platforms are augmenting the global market. Additionally, the increasing consumer willingness to disclose their personal detail in exchange for timely personalized discounts and the expanding information technology (IT) sector are expected to fuel the location based advertising (LBA) market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- Emodo Inc. (Telefonaktiebolaget LM Ericsson)
- Foursquare Labs Inc.
- Google LLC
- GroundTruth
- International Business Machines Corporation
- Near Pte. Ltd.
- Scanbuy Inc.
- Shopkick Inc. (Trax)
- Telenity Incorporated
- YOOSE Pte. Ltd
Location Based Advertising (LBA) Market Segmentation:
Our report has categorized the market based on region, type, content and application.
Breakup by Type:
- Push
- Pull
Breakup by Content:
- Text
- Multimedia
Breakup by Application:
- Retail Outlets
- Public Spaces
- Airports
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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