Wilmington, Delaware, Oct. 18, 2023 (GLOBE NEWSWIRE) -- According to RationalStat, the Global Location Based Advertising Market valued at US$ 24.6 billion in 2023 and is expected to rise at a strong CAGR of over 17.4% over the forecast period of 2023-2030
Market Definition, Market Scope, and Report Overview
Location-based advertising (LBA) is a marketing approach that provides mobile device users with targeted digital content or advertisements based on their geographic location.
The growing use of smartphones equipped with GPS has resulted in a big user base for location-based services and advertising. As more individuals use cellphones, LBA's potential reach expands.
- According to a deep-dive market assessment by RationalStat, the global Location Based Advertising market has been analyzed on the basis of market segments, including component, promotion type, advertisement type, application, industry vertical and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Location Based Advertising market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units/Users) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Location Based Advertising market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Location Based Advertising Market: Segmental and Market Share Analysis
- Based on component, in 2022, the geofencing segment dominated the global location based advertising market with a revenue share of more than 37.0%. The use of GPS, RFID, Wi-Fi, or cellular data to create virtual borders around physical sites is known as geofencing.
- Based on promotion type, in 2022, the search result promotion segment accounted for more than 22.0% of total income. The proliferation of cellphones equipped with GPS technology has aided in the market's rise.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 24.6 billion |
| Market Size Forecast | US$ 75.8 billion |
| Growth Rate | 17.4% |
| Dominant Segment | Geofencing |
| Dominant Region | North America |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global location based advertising market include,
- In August 2023, Google Inc. launched vehicle ads, a new ad format on a search that allows auto advertisers to endorse their vehicle inventory to customers shopping for vehicles on Google.
- In February 2023, Cidewalk Technologies Inc. introduced BannerAI, a free digital billboard ad creative solution powered by OpenAI, to complement its new flagship RTB-enabled programmatic billboard advertising platform.
Some of the prominent players and suppliers operating and contributing significantly to the global location based advertising market growth include AdMoove, Emodo, Facebook Inc, Foursquare, Google Inc, GroundTruth, IBM Corporation, Near Pte Ltd, Proximus Mobility LLC, and Telenity, among others.
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RationalStat has segmented the global location based advertising market based on component, promotion type, advertisement type, application, industry vertical and region
- Global Location Based Advertising Market Value (US$ Million), Volume (Units/Users), and Market Share (2019-2030) Analysis by Component
- Geofencing
- Geotargeting
- Beacon Advertising
- Geoconquesting
- Global Location Based Advertising Market Value (US$ Million), Volume (Units/Users), and Market Share (2019-2030) Analysis by Promotion Type
- Banner Display/Pop-ups Promotion
- Video Promotion
- Search Result Promotion
- E-mail & Messages
- Voice Calling Promotion
- Social Media Content Promotion
- Global Location Based Advertising Market Value (US$ Million), Volume (Units/Users), and Market Share (2019-2030) Analysis by Advertisement Type
- Push Advertising
- Pull Advertising
- Global Location Based Advertising Market Value (US$ Million), Volume (Units/Users), and Market Share (2019-2030) Analysis by Application
- Retail Outlets
- Public Spaces
- Airports
- Global Location Based Advertising Market Value (US$ Million), Volume (Units/Users), and Market Share (2019-2030) Analysis by Industry Vertical
- Retail
- Healthcare
- BFSI
- Education
- Hospitality
- Automotive
- Technology & Media
- Transportation & Logistics
- Global Location Based Advertising Market Value (US$ Million), Volume (Units/Users), and Market Share (2019-2030) Analysis by Region
- North America Location Based Advertising Market
- US
- Canada
- Latin America Location Based Advertising Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Location Based Advertising Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Location Based Advertising Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Location Based Advertising Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Location Based Advertising Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Location Based Advertising Market
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Key Questions Answered in the Location Based Advertising Report:
- What will be the market value of the global Location Based Advertising market by 2030?
- What is the market size of the global Location Based Advertising market?
- What are the market drivers of the global Location Based Advertising market?
- What are the key trends in the global Location Based Advertising market?
- Which is the leading region in the global Location Based Advertising market?
- What are the major companies operating in the global Location Based Advertising market?
- What are the market shares by key segments in the global Location Based Advertising market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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