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Location-based Advertising Market Analysis 2024-2033 | Growth, Size, Demand, Analysis, Insights
Location-based Advertising Market
The location-based advertising market size is expected to see rapid growth in the next few years. It will grow to $225.96 billion in 2028 at a compound annual growth rate (CAGR) of 16.3%. The growth in the forecast period can be attributed to mobile device penetration, 5G technology adoption, e-commerce services, real-time customer location data, customer behavior understanding. Major trends in the forecast period include advancements in geolocation technology, integration with artificial intelligence (AI) and machine learning (ML), real-time bidding (RTB), augmented reality (AR) advertising, location intelligence platforms.
Market Overview -
Location-based advertising refers to a form of advertising that integrates mobile advertising with location-based services. It uses technology to pinpoint a consumer's location and provide location-specific advertisements, allowing organizations to deliver personalized content to individuals based on their physical location.
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Mobile Device Proliferation Fuels Growth In The Location-Based Advertising Market
The increasing proliferation of mobile devices is expected to propel the growth of the location-based advertising market going forward. Mobile devices provide users with constant connectivity to the internet, enabling instant access to information, news, and updates. Mobile devices enable location-based advertising by leveraging global positioning system technology to deliver targeted and relevant ads to users based on their real-time geographical location. For instance, in February 2024, according to Uswitch Limited, a UK-based financial conduct authority, the number of mobile connections in the UK rose to 71.8 million, reflecting a 3.8% increase (approximately 2.6 million connections) compared to 2021. By 2025, there will be 68.3 million people living in the UK, of whom 95% (or about 65 million people) will have smartphones. Therefore, the increasing proliferation of mobile devices is driving the growth of the location-based advertising market.
Competitive Landscape -
Major companies operating in the location-based advertising market are Google LLC, Microsoft Corporation, Facebook (Meta Platforms Inc.), International Business Machines (IBM) Corporation, Oracle Corporation, Salesforce Inc., Adobe Inc., The Proximus Group, Epsilon Data Management LLC, Yelp Inc., Yext Inc., Telenav Inc., Skyhook Interactive, Foursquare Labs Inc., Near Intelligence Inc., Knorex Inc., Telenity, GroundTruth, PlaceIQ, Emodo (Placecast), Bluedot Innovation, Radar Labs Inc., Enroute Systems Corporation, Verve Group Inc., Telesoft Technologies Ltd., Cuebiq Inc., Cidewalk Technologies Inc., Enradius LLC, Mobiquity Networks Inc., AdMoove SAS, Adello Inc.
Innovative Advancements Redefine The Location-Based Advertising Landscape With Advanced Platforms
Major companies operating in the location-based advertising market are focused on developing innovative and advanced technological solutions, such as location-based advertising platforms, to gain a competitive edge in the market. This platform, as a digital marketing tool, utilizes geographic information from mobile devices or other sources to deliver targeted advertisements to users based on their real-time or historical location data. For instance, in July 2022, Moovit, an Israel-based mobile advertising company, launched a new location-based advertising platform that allows brands to connect with transit riders while they are on the go. This platform lets advertisers target Moovit users based on their current location and route points during their journey. This ad platform is compliant with the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA), as users must provide consent to allow the app to track their location, and they can withdraw that consent at any time.
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Key Segments -
The location-based advertising market covered in this report is segmented -
1) By Type: Geotargeting, Geofencing, Beaconing, Mobile Targeting, Geo-conquesting
2) By Advertisement Type: Push Advertising, Pull Advertising
3) By Promotion Type: Banner Display And Pop-ups Promotion, Video Promotion, Search Result Promotion, E-mail And Messages, Social Media Content Promotion, Voice Calling Promotion
4) By Application: Retail Outlets, Public Spaces, Airports, Other Applications
5) By Industry Vertical: Retail, Hospitality, Healthcare, Banking, Financial Services And Insurance (BFSI), Education, Technology And Media, Transportation And Logistics, Automotive, Other Industry Verticals
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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