According to the latest market research study released by Technavio, the global indoor location-based search and advertising market is expected to grow at a CAGR of more than 63% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global indoor location-based search and advertising market based on application type:
Global indoor location-based search and advertising market share by application 2015
|
Search |
116 million |
|
Messaging |
86 million |
|
Display |
44 million |
Source: Technavio
The top three revenue contributing application segments are discussed below:
Search
In 2015, the search segment contributed revenues of around 116 million to the global indoor location-based search and advertising market. Search application allows advertisers to endorse brands and products when users search directly for information by providing them with ads and promotions related to the search keyword entered by the customer.
“The search method can be seen on mobile web applications such as Yelp! Yelp helps people look for businesses through improved reality applications and platforms. Search ads display significant dynamics that enhance their efficiency and return on investment (ROI) over time,” says Abhishek Sharma, a lead analyst at Technavio for research on machine to machine and connected devices.
Search advertising with AdWords helps enterprises reach new customers and grow their businesses.
Messaging
The increasing penetration of smartphones and the decreasing price of data services has made messaging consumers through SMS the most cost-effective and easiest method of advertising. In retail stores, related information can be sent via SMS notification to customers’ smartphone using beacon technology. Beacons offer an attractive experience for shoppers in the retail segment. Beacons installed at several locations in retail stores, big shopping malls, and restaurants spot smartphone devices and provide necessary services to a customer as per his/her preferences based on analytics. Besides this, companies such as Thumbvista are providing location-based SMS dashboard that is designed to be simple, clean, and user-friendly. Various actions such as setting up campaigns, defining geo-fences, data based opt-ins, managing text messages, and reporting and analytics are provided in a user-friendly environment to offer modified solutions. Hence, the messaging application is anticipated to witness a significant growth compared to other application methods during the forecast period.
Display
Display is an advertising method where advertisers can place an ad banner on a phone application such as a social networking site. This method helps promoters to recognize a potential buyer nearby to push an appropriate notification such as an ad or a coupon. In addition, the content displaying the advertisement can be static or dynamic depending upon the user’s geographical location. For instance, Google provides contextual targeting tools and audience targeting tools that allow enterprises to reach involved consumers who are interested in buying what a company or brand is selling. However, repetitive display of unrelated ad content on a page can also deviate the potential customer away from the targeted product and make promoters less familiar with the customer’s buying behavior.
The top leading vendors operating in the global location-based search and advertising market are:
- Apple
- Foursquare
- xAD
Other prominent vendors in the market include Accuware, Admoove (HiMedia), Aisle411, Aislelabs, Broadcom, Cartogram, Cisco, Estimote, Facebook, Gimbal, Groupon, Indoo.rs, Insiteo, Jatis Mobile, MazeMap, Micello, Microsoft, Near (Ad Near), Nexage (Verizon), Ping Mobile, Pinmicro, Polaris Wireless, Qualcomm Technologies, Scanbuy, Sensewhere, Shopkick (SK Telecom), Social Retail, Sprooki, Thinknear (TeleNav), Thumbvista, Verve Wireless, Waze (Google), and Yoose.
A more detailed analysis is available in the Technavio report titled, ‘Global Indoor Location-Based Search and Advertising Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Indoor LBS Market 2016-2020
- LBS Market in the US 2016-2020
- Location-based Search and Advertising Market in the US 2016-2020
- Enterprise Indoor Location-based Services Market in the US 2016-2020
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