Dublin, Feb. 10, 2022 (GLOBE NEWSWIRE) -- The "Location Based Advertising (LBA) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Location Based Advertising (LBA) Market to Reach US$133 Billion by the Year 2026
The global market for Location Based Advertising (LBA) estimated at US$63.9 Billion in the year 2020, is projected to reach a revised size of US$133 Billion by 2026, growing at a CAGR of 12.8% over the analysis period.
Growth in the global market is propelled by rapid digitization across various industry verticals, increasing dependence of marketers on consumer data, along with rising penetration of GPS-enabled mobile devices and the internet. Growing usage of mobile data and mobile search, increasing penetration of smartphone devices, and favorable consumer demographics also boost market prospects.
With mobile Internet growing at a much faster rate than computer-based Internet access, particularly in the developing countries and among the younger demographic, LBA is expected to grow at robust rate. Technological advancements, especially in the mobile phone segment and the development of novel advertisement platforms in conjunction with the requirement to reach customers on the move is another factor driving the use of LBA.
In order to gain greater acceptance, LBA applications need to include the required technology to allow user freedom in search and at the same time determine the type of advertisement to reach the consumer. Also, emphasis must be placed on the advertisement context to gain the attention of user. The increased use of Wi-Fi technology also supports the growth of LBA especially in indoor environments.
Retail Outlets, one of the segments analyzed in the report, is projected to grow at a 12.2% CAGR to reach US$62.9 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Public Places segment is readjusted to a revised 14.2% CAGR for the next 7-year period. This segment currently accounts for a 28.3% share of the global Location Based Advertising (LBA) market.
The public places segment's growth is due to growing adoption of LBS among institutions, brands, and enterprises in public places. Businesses and brands with physical stores can join hands with analytics companies and LBS providers for geofencing locations, which will enable them to capture the audiences visiting such locations.
Airports Segment to Reach $22.3 Billion by 2026
Airports represent an established end-use application sector for location-based advertising. Several options for advertising in airlines have come up, of which location-based advertising is one that is gaining increasing foothold. Airports now offer private Wi-Fi networks freely, which are being used by marketers to obtain location-based information about customers.
The airlines then provide passengers with targeted advertising based on their interests and preferences. In the global Airports segment, USA, Canada, Japan, China and Europe will drive the 12.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$8.4 Billion in the year 2020 will reach a projected size of US$19.4 Billion by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.2 Billion by the year 2026, while Latin America will expand at a 14.9% CAGR through the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Impact of COVID-19 Pandemic and Looming Global Recession: 2020 Marked as a Year of Disruption & Transformation
- As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021?
- COVID-19 Pandemic Upends the Advertising Landscape
- The Market for Contextual Advertising and the Pandemic Impact
- COVID-19 Impact on Advertising Industry Affects AI Investments
- Advertising: Essential for Corporate/Brand Survival & Existence
- Activity-based and Location-based: The two Leading Contextual Advertising Types
- Rising Importance of Location-based Advertising Augurs Well
- Evolution of LBA and Factors Responsible for its Success
- Benefits of LBA
- Location-Based Advertising: Types
- Examples of Successful Location-Based Mobile Advertising
- Launching a Successful LB Marketing Campaign
- Geo-Location Data Vs Location Based Advertising
- LVD Technology & the Future of Marketing
- Global Market Prospects & Outlook
- Key Growth Drivers
- Analysis by Application
- Competitive Scenario
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 53 Featured)
- Aislelabs Inc.
- Foursquare Labs, Inc.
- Gamigo AG
- GroundTruth
- Scanbuy, Inc.
- Yoose PTE. Ltd.
3. MARKET TRENDS & DRIVERS
- Mobile Marketing Future: Precise Location-Based Advertising
- Technology Trends Impacting Location-Based Marketing
- Most Marketing Budgets Prioritize and Focus on Location-Based Marketing
- Growing Importance of Digital Advertising Favors Growth
- Growing Relevance of AI to Location-Based Advertising
- Rise in Smartphone Usage Lends Growth Opportunities for LBA
- Integrating SMS in LBA Increases Success Rate of Reaching Target Customers
- Launch of 5G Networks to Boost Growth
- Millennials: An Important Demographic
- LBA Draws Greater Consumer Insights
- Mobile Search, and Navigation Apps to Drive Growth
- Social Media with Location Based Features: Emerging Avenues for Marketing
- Location-based Advertising Better Grasps Consumer Attention on Paid Social Media
- How Location-based Advertising Helps Formulating Strategy?
- Best Networks to Launch Localized Advertisements
- LBA: A Useful Advertising Tool for Retail Outlets
- Location-based Advertising (LBA) Gains Foothold at Airports
- Geotargeting for Hospital Advertising
- CheckPoints, a Location-Based Advertising Approach
- Context Sensitive Advertising: Significance of Context in LBA
- Issues and Challenges
- Privacy Concerns Remain Big Issue
- Perception of Location-Based Advertising as Spam
- Restrictions on Collection of Location Data to Cost Marketers
- Location Based Advertising: A Conceptual Review
- Push Approach/Push Advertising
- Pull Approach/Pull Advertising
- LBA Ecosystem
- Significant Aspects of LBA: The Three 'R's of LBA
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
UNITED STATES
CANADA
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA
For more information about this report visit https://www.researchandmarkets.com/r/pjv9fp
