Location Based Advertising (LBA) Market Analysis, Trends, Outlook and Future Growth Insights 2023-2028

The latest report published by IMARC Group, titled "Location Based Advertising (LBA) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on Location Based Advertising (LBA) market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global location based advertising (LBA) market is expected to exhibit a growth rate (CAGR) of 11.6% during 2023-2028.

What are location based advertising (LBA)?

Location-based advertising (LBA) is an advertising approach that enables businesses to deliver location-specific advertisements on mobile devices, thereby providing relevant information regarding several products and allowing marketers to target specific audiences through the creation of new campaigns. This form of advertising has proven to generate significantly higher returns compared to traditional mobile advertising solutions. It offers convenience, is cost-efficient, targets a larger audience, etc. As a result, LBA is widely utilized in public spaces, airports, retail outlets, etc. Presently, it also comprises the utilization of a global positioning system (GPS)-targeting technology to reach a specific target audience by making new campaigns and driving traffic and sales.

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What are the growth prospects and trends in the location based advertising (LBA) industry?

The growing penetration of high-speed internet connectivity is primarily driving the location based advertising (LBA) market. Additionally, the increasing investments by private and public agencies to expand the 5G infrastructures are further bolstering the market growth. Besides this, the widespread adoption of location-based advertising that offers flexibility concerning the content, as expired, misplaced, or out-of-date information can be replaced quickly by remote access, is acting as another significant growth-inducing factor. Moreover, the rising usage of mobile applications for shopping online is encouraging leading players to advertise content on various social media platforms, which is positively influencing the global market. Apart from this, the inflating need among consumers for disclosing their data in exchange for timely personalized information based on their locations is also stimulating the market growth. Furthermore, the expanding e-commerce industry is anticipated to fuel the location based advertising (LBA) market over the forecasted period.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Emodo Inc. (Telefonaktiebolaget LM Ericsson)
• Foursquare Labs Inc.
• Google LLC
• GroundTruth
• International Business Machines Corporation
• Near Pte. Ltd.
• Scanbuy Inc.
• Shopkick Inc. (Trax)
• Telenity Incorporated
• YOOSE Pte. Ltd

Location Based Advertising (LBA) Market Segmentation:

Our report has categorized the market based on region, type, content and application.

Breakup by Type:
• Push
• Pull

Breakup by Content:
• Text
• Multimedia

Breakup by Application:
• Retail Outlets
• Public Spaces
• Airports
• Others

Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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This release was published on openPR.