The latest report published by IMARC Group, titled “Location Based Advertising (LBA) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on Location Based Advertising (LBA) industry report. 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 CAGR of 13.20% during 2022-2027.
Location based advertising (LBA) refers to a form of advertising that allows businesses to provide location-specific advertisements on mobile devices. It combines location-based services (LBS) with mobile advertising for targeting consumers at a granular level via offline and online messaging services. Additionally, it involves the utilization of a global positioning system (GPS)-targeting technology to reach a specific target audience by creating new campaigns and driving traffic and sales. Its adoption assists enterprises to reach their customers based on several factors, such as events happening and proximity to a store across the location. In comparison to billboard advertising, it is convenient, cost-efficient and targets a larger audience.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The global market is primarily driven by the widespread penetration of global positioning system (GPS)-enabled devices. This is supported by the availability of high-speed internet connectivity and rapid digitization across industrial verticals. Moreover, the rising funding by private and public agencies in order to expand the 5G infrastructure is also propelling the market. This has encouraged leading players to heavily invest in the deployment of location-based advertising solutions, thereby catalyzing the market growth. Moreover, continuous developments in the e-commerce infrastructure, coupled with the rapid outbreak of coronavirus (COVID-19) that has impelled the masses to adopt online shopping services, are impacting the market favorably. Furthermore, the increasing investments by key players in the development of aggressive marketing strategies and promotional campaigns are creating a positive outlook for the market. Other factors, including rapid urbanization, the emerging information technology (IT) sector, the growing initiatives towards smart city development and intensive business competition, are also influencing the growth of the market.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
Location Based Advertising (LBA) Market Segmentation:
Our report has categorized the market based on region, type, content and application.
Breakup by Type:
Breakup by Content:
Breakup by Application:
Breakup by Region:
Key highlights of the report:
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