The Global Location Based Advertising Market size is expected to reach $163. 5 billion by 2026, rising at a market growth of 18. 5% CAGR during the forecast period. Location-based advertising includes online and offline strategies created to help businesses plan and execute marketing activities based on the geographical location of customers.
New York, Aug. 24, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Location Based Advertising Market By Type, By Application, By Content Type, By Region, Industry Analysis and Forecast, 2020 - 2026" - https://www.reportlinker.com/p05953648/?utm_source=GNW
The usage of consumer data to display relevant brand messages to a highly targeted audience is at the heart of location-based marketing. Localized marketing, also known as geo-marketing, is not a new idea. Businesses have always recognized the importance of marketing to people on the basis of their location. Owing to this, a number of brick-and-mortar businesses also send direct mailers, and that’s why during the tax season, a lot of people can be seen wearing Statue of Liberty costumes on the roadside.
Consumers have to opt-in to allow this kind of data to be available, and location-based marketing is therefore driven through the consumer’s granted permissions. Relevance is also at the root of the approach. If a consumer dines in a restaurant, they might see an ad on their phone for an ice-cream shop only a block away. When a shopper is always in the Little League area on springtime Saturdays, and the data reveals that he hits the grocery store on Thursdays, so the location data has helped to come onto a conclusion that says Tuesday or Wednesday can be the perfect time to deliver a game-friendly snacks package.
Rapidly growing digitalization across business verticals, increasing adoption of internet & GPS enabled mobile devices, and accelerated usage of customer data by advertisers are the key factors that drive demand growth for Location Based Advertising (LBA). Furthermore, the growing usage of social media by users and the move of advertisers from conventional banner ads to new channels have driven the use of LBA across industries. In addition, regulatory initiatives to ensure consumer health, the proliferation of new data sources and the changing marketing approach are expected to encourage demand development over the forecast period.
Based on Type, the market is segmented into Push and Pull. Based on Application, the market is segmented into Public Spaces, Retail Outlets and Airports & Others. Based on Content Type, the market is segmented into Multimedia and Text. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ericsson AB (Placecast), Google, Inc., IBM Corporation, Near Pte. Ltd., Telenity, Inc., Scanbuy, Inc., Foursquare Labs, Inc., Shopkick, Inc. (Trax), GroundTruth, Inc., and AdMoove SAS.
Strategies deployed in Location Based Advertising Market
Jun-2020: GroundTruth introduced the Connected TV (CTV) solution and Desktop offering, coupled with its existing mobile capabilities. With these capabilities, GroundTruth aimed to provide marketers broader access to cross-device channels to drive consumers to physical points of interest or convert them online.
May-2020: Google collaborated with Singapore Press Holdings (SPH). The collaboration was aimed to grow digital advertising revenue and develop their digital video content business.
May-2020: GroundTruth partnered with Yext, Inc., the Search Experience Cloud company. Following the partnership, the companies aim to create customized location-based mobile advertising campaigns for marketers who utilize the Yext platform. The customers can manage their listings within the Yext platform and utilize GroundTruth’s proprietary Blueprints mapping technology to identify and target customers with tailored ads and offerings.
Jun-2019: IBM introduced Watson Ads Builder, a self-service advertising solution. The solution uses artificial intelligence (AI) designed to empower creative agencies and developers. This solution helps creative agencies and developers build engaging, one-on-one conversations between brands and consumers across any digital property.
May-2019: Foursquare acquired Placed from Snap Inc. Foursquare has added the Placed product—#1 in-store visit attribution across digital, OOH and TV to Foursquare’s bundle of location-based offerings. The acquisition helped the company to build the world’s most trusted, independent location technology platform.
Sep-2018: Ericsson Emodo partnered with Axonix following which Emodo unveiled Emodo Supply, the first and only carrier data-powered product. The product enables demand-side platforms (DSPs) to filter media supply for accuracy, thus bringing clean and reliable inventory into the programmatic environment. By filtering media supply before the bidding process, Emodo Supply ensures that only carrier-verified, high-quality inventory is purchased for campaigns, reducing wasted ad spend, and improving ROI.
Sep-2018: Foursquare announced its partnership with the Hotel group, Hilton. The partnership was aimed to launch a new feature in the Hilton Honors mobile app called Explore. It helps guests discover local places to visit, which have been selected by Hilton team members who live in the area. The Hilton Honors app uses Foursquare’s Places API as the source of its information, which includes ratings, real-time information, photos, and basic information like opening times.
Aug-2018: Google Mobile Advertising business, AdMob signed partnership agreement with Unity Technologies, creator of the world’s leading real-time 3D development platform. Under the partnership, the companies have been working on the way advertisers reach gamers on-the-go and help mobile game developers monetize their apps.
Jun-2018: Ericsson Emodo, Ericsson’s mobile advertising and monetization platform launched Emodo Audiences. The product uses highly accurate data at scale to pre-verify mobile audiences and inventory, then make it available through any major demand-side platform (DSP).
May-2018: Ericsson Emodo, Ericsson’s mobile advertising, and monetization platform introduced Emodo Verification. This product help advertisers minimize wasted mobile ad dollars and more effectively reach target audiences. The product is an independent verification tool that uses carrier data to validate the accuracy of mobile audiences and ad campaigns.
Apr-2018: Foursquare announced that it launched Sixteen by Foursquare. This solution has been dedicated to exploring the intersection of creativity and location technology.
Apr-2018: Foursquare introduced the Places API for Start-Ups, a product that provides access to Foursquare location intelligence capabilities. This enabled startups and SMBs to integrate applications with Foursquare platform data and capabilities such as global venue database, descriptive place attributes, and Snap-to-Place.
Feb-2018: GroundTruth unveiled the GroundTruth Ads Manager, the industry’s first end-to-end self-serve platform for mobile location-based advertising. Marketers can now simply access GroundTruth’s platform, which sees 2 out of 3 smartphone users, to sign-up, input a credit card, and create their first campaign in a matter of minutes, no minimum spend required.
Jan-2018: IBM teamed up with Jivox, the personalized digital marketing technology leader. Following the collaboration, the latter company has integrated WEATHERfx data from IBM Watson Advertising (formerly The Weather Company’s ad sales business) into its Jivox IQ platform that powers dynamic content optimization (DCO). Through this integration, the WEATHERfx triggers inform the Jivox DecisionGraph technology, its AI-powered recommendations, and dynamic audience scoring, to enable brand marketers to optimize marketing campaigns in real-time, and adjust messaging and creative based on local weather conditions.
Scope of the Study
• Public Spaces
• Retail Outlets
• Airports & Others
By Content Type
• North America
o Rest of North America
o Rest of Europe
• Asia Pacific
o South Korea
o Rest of Asia Pacific
o Saudi Arabia
o South Africa
o Rest of LAMEA
• Ericsson AB (Placecast)
• Google, Inc.
• IBM Corporation
• Near Pte. Ltd.
• Telenity, Inc.
• Scanbuy, Inc.
• Foursquare Labs, Inc.
• Shopkick, Inc. (Trax)
• GroundTruth, Inc.
• AdMoove SAS
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