Location Based Advertising Market Share, Size, Trends, Industry Analysis Report, By Component (Geofencing, Geotargeting, Beacon Advertising, Geoconquesting), By Advertisement Type, By Promotion Type, By Application, By End Use, And Segment Forecasts, 2023

Location Based Advertising Market Share, Size, Trends, Industry Analysis Report, By Component (Geofencing, Geotargeting, Beacon Advertising, Geoconquesting), By Advertisement Type, By Promotion Type, By Application, By End Use, And Segment Forecasts, 2023 - 2032

The global location-based advertising market size is expected to reach USD 386.77 billion by 2032, according to a new study by Polaris Market Research. The report “Location Based Advertising Market Share, Size, Trends, Industry Analysis Report, By Component (Geofencing, Geotargeting, Beacon Advertising, Geoconquesting), By Advertisement Type, By Promotion Type, By Application, By End Use, And Segment Forecasts, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The market's momentum is fueled by the widespread use of mobile devices, advancements in geolocation technologies, and the growing need for tailored advertising content. This dynamic industry is transforming how businesses engage with their audience by providing a potent means to convey messages exactly when and where consumers are most receptive. The primary catalyst for this growth is the prevalence of smartphones; with over 6.5 billion users worldwide, businesses have a vast audience accessible through these devices. Location-based advertising utilizes the GPS features of these smartphones to deliver highly specific messages based on users' real-time locations.

Advancements in geolocation technologies have significantly enhanced the precision and accuracy of location-based targeting. GPS, when combined with technologies like Wi-Fi triangulation and beacon technology, enables advertisers to accurately determine users' locations. This opens opportunities for hyper-localized campaigns, allowing businesses to engage consumers at specific points of interest such as retail stores, restaurants, or events. Retailers and brick-and-mortar businesses have embraced this marketing strategy, recognizing its potential to attract foot traffic and boost in-store sales by targeting consumers near their physical locations.

The proliferation of mobile apps has significantly influenced market growth, as many apps now request access to users' location information, offering advertisers valuable data for targeted campaigns. However, this access comes with the responsibility to handle data carefully and respect user privacy. Personalization is another vital factor driving market success; by understanding a user’s location, businesses can customize their messages to fit the local context. For instance, a retail chain can promote specific products or offers based on the demographics and preferences of a particular area. This high level of personalization not only improves the user experience but also enhances the chances of conversion.

Additionally, the efficacy of advertising is supported by powerful analytics and attribution capabilities. Advertisers can monitor and evaluate the performance of their campaigns, obtaining insights into user engagement, foot traffic, and conversion rates. This data-focused approach enables continuous refinement, guaranteeing that advertising endeavors generate the maximum return on investment.

Location Based Advertising Market Report Highlights

Geofencing segment held the largest share, primarily due to advancements in technology and applicability in varied industry verticals

Search result promotion segment garnered the largest revenue share, due to rapid adoption of smartphones enabled with the GPS technology

Retail outlets segment will grow rapidly, owing to rising necessity of gathering customer’s shopping behavior and patterns

North America held the largest share, due to high penetration of smartphones for socializing and information gathering

The key market players include Cidewalk Technologies, Enradius, Emodo, Facebook, Foursquare, Google, GroundTruth, IBM Corporation, and Near Intelligence.

Polaris Market Research has segmented the location-based advertising market report based on component, promotion type, advertisement type, application, end use, and region:

Location Based Advertising, Component Outlook (Revenue - USD Billion, 2023 - 2032)

Geofencing

Geotargeting

Beacon Advertising

Geoconquesting

Location Based Advertising, Promotion Type Outlook (Revenue - USD Billion, 2023 - 2032)

Banner Display/Pop-ups Promotion

Video Promotion

Search Result Promotion

E-mail and Messages

Social Media Content Promotion

Voice Calling Promotion

Location Based Advertising, Advertisement Type Outlook (Revenue - USD Billion, 2023 - 2032)

Push Advertising

Pull Advertising

Location Based Advertising, Application Outlook (Revenue - USD Billion, 2023 - 2032)

Retail Outlets

Public Spaces

Airports

Others

Location Based Advertising, End Use Outlook (Revenue - USD Billion, 2023 - 2032)

Retail

Hospitality

Healthcare

BFSI

Education

Technology & Media

Transportation & Logistics

Automotive

Multimedia & Entertainment

Others

Location Based Advertising, Regional Outlook (Revenue - USD Billion, 2023 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Latin America

Argentina

Brazil

Mexico

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa