Location-based Search and Advertising Market in the US 2016-2020
About Location-based Search and Advertising
Location-based search and advertising involves integrating advertisements with location-based solutions. It is basically used to differentiate a set of customers based on their interests and location. People use their mobile devices to search for local events in their vicinity related to dining, movies, travel, children, or home decor. Location-based search and advertising is the best way to communicate the right message to the right set of customers at the right time in a meaningful and engaging way. It is a method of direct communication between consumers and marketing companies, and it helps companies figure out the right set of target customers based on their likes, interests, and geographical locations.
Technavio’s analysts forecast the location-based search and advertising market in the US to grow at a CAGR of 38.59% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the location-based search and advertising market in the US for the period 2016-2020. To calculate the market size, the report considers revenue generated from the following:
Technavio Announces the Publication of its Research Report – Location-based Search and Advertising Market in the US 2016-2020
Technavio recognizes the following companies as the key players in the Location-based Search and Advertising Market in the US: Foursquare, xAD, Groupon, Scanbuy and Shopkick.
Other Prominent Vendors in the market are: Yoose, Verve, Thumbvista, Ping Mobile, Qualcomm Izat, Thinknear, Polaris Wireless, Waze (Google), bfonics, Gimbal, and Social Retail.
Commenting on the report, an analyst from Technavio’s team said: “The rapid deployment of beacons is one major factor, which is anticipated to drive market growth during the forecast period. 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.”
According to the report, with an increased per capita income in the US, customers are more focused on quality of service and personalization. Organizations are leveraging this consumer behavior with the help of location-based pull marketing techniques, to enhance their product visibility through advertisements and online campaigns.
Further, the report states that lack of accuracy in communication and information is a major challenge confronting the location-based search and advertising market in the US.
Foursquare, xAD, Groupon, Scanbuy, Shopkick, Yoose, Verve, Thumbvista, Ping Mobile, Qualcomm Izat, Thinknear, Polaris Wireless, Waze (Google), bfonics, Gimbal, Social Retail.