This market research report presents a segmentation of the location-based search and advertising market in the US by technology type (push advertising and pull advertising) and by application type (messaging, display, and search). The key vendors analyzed in the report are Foursquare, xAD, Groupon, Scanbuy, and Shopkick.
Technavio’s market research analysts estimate the location-based search and advertising market in US, to generate revenues of $6 billion between 2016 and 2020. Location-based search and advertising is an emerging trend, and it is expected to grow remarkably during the forecast period because it offers cost-effective communication that helps SMEs achieve their business goals.
The new market research report from Technavio provides a breakdown and analysis of the location-based search and advertising segments by technology.
“Of late, this market is witnessing the rapid deployment of beacons. Beacon triggered marketing is an accurate model of proximity marketing, which works by utilizing Bluetooth signal from a beacon located with the store. Thus, the adoption rate of beacons is on the rise due to their easy deployment and inexpensive features. For instance, the typical beacon’s cost would range from $30 – $40 and the only other cost that incurs would be the time and resources required to create the content,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research
Messaging through SMS is the easiest and cost-effective method of advertising to consumers due to the increasing penetration of smartphones and the decreasing price of data services. Therefore, the messaging application segment is expected to witness a significant growth compared to other application methods in the forecast period.
The key vendors in the location-based search and advertising market in US include Foursquare, xAD, Groupon, Scanbuy, and Shopkick. This market in the US is highly fragmented with the presence of various stakeholders such as advertisers, platform providers, application developers, navigation providers, and mobile operators. Also, since location-based search and advertising is a substitute for electronic and print media advertising, many regional SMEs are shifting their investments to this market.
A more detailed analysis is available in the Technavio report, Location-based Search and Advertising Market in US 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
- Global Location-based Search and Advertising Market 2015-2019
- Global LBS Market 2015-2019
- LBS Market in India 2015-2019
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