What is the Addressable Market Opportunity for “Location Based Advertising (LBA)”?
The global market for Location Based Advertising (LBA) is projected to reach US$50.2 billion by 2025, driven by the ability of the technology to engage better and personalize marketing for better conversion rates.
Global Industry Analysts, Inc. (GIA) launches comprehensive analysis of industry segments, market trends, growth drivers, market share, size and demand forecasts on the Location Based Advertising (LBA) market. Report segmentation includes Application (Retail Outlets, Public Places, Airports, Hospitals, and Other Applications).
10 June 10:09 A.M., California/Marketwire/ - According to the new market research report, the global market for Location Based Advertising (LBA) is projected to reach US$50.2 billion by 2025, driven by the ability of the technology to engage better and personalize marketing for better conversion rates. Location-based advertising (LBA) constitutes a new type of advertising, encompassing the integration of mobile advertising with location-based services. The Location Based Advertising (LBA) market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned.
Personalization; timeliness; and ability to geo-target are key attributes that will drive the technology`s success. Block chain is expected to emerge to overthrow privacy concerns and will encourage consumer willingness to opt-in for LBA programs. The demand for location-based advertising is growing rapidly, driven by increasing number of companies using location-based applications for the promotion of their products. Within the LBS market, location based advertising and searches are expected to make the largest headway in the near future. Location based services are also witnessing increased activity in merchandising and shopping, encouraging advertisers to take advantage of the consumer behavior trends. With smart phone penetration rising to new highs worldwide, LBA is poised to emerge into the next big thing. Consumers are becoming increasingly receptive regarding the sharing of locations with services and applications in exchange for local, well-timed and appropriate promotions and deals, reflecting a shift towards location relevant ads being provided by location-based applications. In future, the rise in buying power of millennia`s, who are more open to the idea of sharing personal data and are receptive to native social advertising compared to conventional formats such a banners is expected to drive growth in the market. Majority of the consumers utilize location-based application through their phones with few consumers exhibiting willingness to use such applications several times in a day. In addition, many consumers engage with an ad only when they are relevant to their location.
Key Competitors Covered in the Report
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Geographies Analyzed in the Report
Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe)
Asia-Pacific (Australia, India, South Korea, and Rest of Asia-Pacific)
Latin America (Argentina, Brazil, Mexico, and Rest of Latin America)
Middle East (Iran, Israel, Saudi Arabia, United Arab Emirates, and Rest of Middle East)
This latest edition of the research study is conducted and published by Global Industry Analysts, Inc., in close collaboration with senior executives in the industry driving strategy, business development, marketing, sales, product management, technology and operations. All analysis and findings published in the report are based on validated engagements from a total executive pool size of 3516. Among this pool, 633 direct interactions with domain experts were carried out via our proprietary market research platform, MarketGlass. Among the 103 unique participations, a total of 46 validated responses were received as part of this report's primary research outreach program. We are unique in the industry to provide our clients with the validated list executive engagements and the complete project data stack.
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