Location-based advertising market to gain ground; E-Commerce Industry Rising to Boost Growth: Fortune Business Insights ™

Pune, India, December 23, 2021 (GLOBE NEWSWIRE) – The world location-based advertising market The size is expected to show substantial growth due to the rise of e-commerce platforms and the increasing adoption of advanced technologies that will drive the demand for innovative location-based advertising solutions and services across the globe. Fortune Business Insights has published this information in its upcoming report, titled, “Location Based Advertising Market Size, Industry Share & Analysis, By Component (Solution, Services), By Location (Indoor, Outdoor), By End User Industry (Retail & E-Commerce, Hospitality, Transportation & Logistics, Automobiles, Real Estate, Others) and regional forecast 2021-2028. ‘

The effect of the global pandemic, COVID-19, has been felt in several economies facing unprecedented losses. Due to the lockdown announced by government agencies, several industries are at a standstill with limited operational activities. However, a collective effort by government as well as industry is likely to get the economy back on track and help the resumption of industrial activities.

Location-based advertising solutions give advertisers a single platform where they can deliver personalized messages to people based on their location. These services allow businesses to customize their product offerings based on demographics to improve sales and consumer engagement.

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What does the report include?

The Location Based Advertising Market report includes qualitative as well as quantitative analysis of several factors such as major drivers and restraints that will impact the growth. Further, the report provides information on regional analysis which covers different regions, which are contributing to the growth of the market. It understands the competitive landscape that involves leading companies and the adoption of strategies by them to announce partnerships, introduce new products and collaboration that will further contribute to the growth of the market between 2021 and 2028. In addition, the Research analyst has adopted several of the research methodologies such as SWOT and PESTEL analysis to extract information on current trends and industry developments that will drive the market growth during the forecast period.

DRIVING FACTORS

Rise of the e-commerce sector to accelerate growth

The COVID-19 pandemic has brought about drastic changes in the lives and livelihoods of people across the world. In this scenario, companies are focusing more on caring for their employees and customers and developing their strategies to respond to changing consumer habits. This has led to the boom in the e-commerce industry as more and more people embrace digital sources to meet their needs. For example, according to a 2019 Factual marketing report, 9 out of 10 companies believed location-based advertising services lead to increased customer engagement and sales supported by the growing adoption of online platforms. Moreover, the massive adoption of modern technologies such as the Internet of Things (IoT) is expected to drive the growth of the global location-based advertising market in the coming years.

Click here to learn about the short and long term impact of COVID-19 on this market.

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REGIONAL OVERVIEW

Presence of an IT infrastructure established in North America to foster growth

Among all the regions, North America is expected to occupy the highest position in the global location-based advertising market during the forecast period. This is attributed to factors such as the presence of a well-established IT infrastructure that is propelling the demand for advanced location-based advertising services in countries such as the United States in the region between 2020 and 2027.

Europe, for its part, is expected to occupy the second position in the market in the years to come. This is due to the imposition of laws and regulations by the European Union (EU) regarding general data protection which is likely to drive the adoption of advanced location-based advertising solutions in the region.

COMPETITIVE LANDSCAPE

Major players focus on merger strategies to expand their product portfolio and increase sales revenue

Global location-based advertising is consolidated by the presence of large companies that merge with other companies to extend their location-based advertising solutions to secure their footprint across different horizons. In addition, other key players are adopting strategies like new product introduction, partnerships and collaboration to maintain their strongholds which will drive the growth of the location-based advertising market.

Industry development:

april 2020 – Factual, the provider of location-based data solutions in California, United States, has announced its merger with Foursquare. The merger aims to strengthen their position in the global location-based advertising market.

List of companies operating in the world Location-based advertising market:

  • xAd, Inc. dba GroundTruth.
  • AdMoove
  • AdNear.
  • Foursquare
  • Alphabet Inc.
  • Proximus
  • Scanbuy, Inc.
  • Shopkick, Inc.
  • YOOSE Supt. Ltd.
  • Aislelabs
  • IBM Company
  • Others

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