What Is The Current and Historic Market Size Analysis Of The Location based Advertising Market?
The location based advertising market has seen considerable growth due to a variety of factors.
• The expansion of the market size for location-based advertising has been significant lately. It's expected to surge from $123.34 billion in 2024 to $143.47 billion in 2025, with a compound annual growth rate (CAGR) of 16.3%.
Factors such as the emergence of location-centric social platforms, the development of smart cities and IoT, increased consumer inclination towards personalized experiences, a spike in demand for custom advertising, and the wide adoption of dynamic creative optimization (DCO) have contributed to the historic period growth.
What Is The Forecast For The Location based Advertising Market Size?
The location based advertising market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for location-based advertising is set to experience a swift expansion in the forthcoming years. The growth is projected to reach $263.45 billion by 2029, demonstrating a compound annual growth rate (CAGR) of 16.4%.
This surge during the predicted period can be linked to factors such as extensive usage of mobile devices, the introduction of 5G technology, increase in e-commerce services, real-time location data of customers and better comprehension of customer behaviour. Predicted trends for this period encompass progress in geolocation technology, amalgamation with artificial intelligence (AI) and machine learning (ML), real-time bidding (RTB), augmented reality (AR) advertising, and location intelligence platforms.
What Are The Essential Drivers Behind The Growth Of The Location based Advertising Market?
The escalating prevalence of mobile devices is anticipated to boost the expansion of the location-based advertising market in the future. These devices provide continual internet access to users, ensuring immediate access to data, news, and updates. They facilitate location-based advertising by utilizing global positioning system technology to provide users with ads that are both pertinent and targeted based on their real-time geographical position. For example, Uswitch Limited, a UK-based financial conduct authority, reported in February 2024 that the count of mobile connections in the UK had surged to 71.8 million, marking a 3.8% rise (around 2.6 million connections) from 2021. Predictions for 2025 indicate that out of the 68.3 million UK inhabitants, 95% (or roughly 65 million individuals) will own smartphones. Thus, the growing prevalence of mobile devices is stimulating the expansion of the location-based advertising market.
How Is The Global Location based Advertising Market Divided Into 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
Subsegments:
1) By Geotargeting: Regional Targeting, City-Level Targeting, Country-Level Targeting
2) By Geofencing: Proximity-Based Advertising, Real-time Location Alerts
3) By Beaconing: Bluetooth Low Energy (BLE) Beacons, Proximity marketing With Beacons
4) By Mobile Targeting: App-Based Targeting, Device-Based Targeting, Location-Triggered Ads
5) By Geo-Conquesting: Competitor Location Targeting, Brand-specific Location Targeting
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What New Trends Are Influencing The Location based Advertising Market?
Key players within the location-based advertising market are striving to create cutting-edge technological solutions, including platforms for location-based advertising, to secure a competitive advantage. These platforms employ geographic data from mobile or other devices to deliver contextually relevant ads based on real-time or historical location data. For example, in July 2022, Moovit, a mobile advertising firm based in Israel, introduced a fresh platform for location-based advertising, enabling brands to engage with commuters on the move. Advertisers can target Moovit users along their route during their journey based on current location data. Compliance with the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA) is safeguarded on this platform as users must give explicit consent to be tracked, a consent that can be revoked anytime.
Who Are the Key Players In The Location based Advertising Market?
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.
What Are The Regional Insights Into The Location based Advertising Market?
North America was the largest region in the location-based advertising market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the location-based advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
