Majorly fuelling the global location based marketing services market are increasing penetration of GPS equipped smartphones and internet. This enables savvy retailers and other service providers to locate prospective consumers and send them push notifications and other promotional messages accordingly.
Albany, NY -- (SBWIRE) -- 12/08/2017 -- The global location based marketing services market is likely to witness robust growth during the forecast period 2017-2025 on account of growing penetration of smartphones and penetration of mobile internet. According to a new report added to the repository of Market Research Reports Search Engine (MRRSE), the global location based marketing services market is likely to grow at a CAGR of nearly 20% through 2025. The report titled "Location Based Marketing Services Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025" offers valuable insights on the growth of the location based marketing services market during the forecast period.
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According to the report, the rapid proliferation of GPS-enabled smartphones and 24x7 internet connectivity has given marketers an opportunity of tapping into the local promotional activities. Earlier, marketing was done on a broad scale, which meant that customers often did not get deals that were tailored to their location. However, as GPS-enabled smartphones have grown in number, especially in developing countries, marketers are sending push notifications to leverage on the emerging opportunities. Although the global location based marketing services market is likely to grow at an impressive pace, concerns about the privacy and confidentiality of consumers has been a deterrent for further expansion.
To give readers detailed insights on the global location based marketing services market, the report offers segmentation on the basis of location type, promotion type, industry vertical, and region. By location type, the key segments include physical location and location of interest; by promotion type, the segmentation has been done on the basis of banner display/pop ups, video, search result, e-mail and message, social media content, and voice calling. By industry vertical, the key segments include retail, hospitality, healthcare, BFSI, education, technology & media, transportation & logistics, and automotive. According to the report, by location type, physical location currently accounts for higher revenue share, and the trend is likely to continue during the forecast period. On the basis of promotion, search results are more prominent, as it gives marketers in-depth insights.
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North America, led by the US, remains one of the leading markets for location based marketing services globally. The North America location based marketing services market is likely to grow at 20% CAGR through 2025, presenting a host of opportunities to key players in this market. Europe is the second largest market for location based marketing services, and is likely to grow at 19.3% CAGR during the assessment period. Asia Pacific, although smaller in terms of revenues than North America and Europe, is likely to grow at a higher CAGR during the forecast period.
Some of the leading players profiled in the report include Placecast, Near Pte. Ltd., Foursquare Labs, Inc., Groupon Inc., Google Inc, Shopkick, Inc., Groundtruth, PlaceIQ, Scanbuy Inc., and Telenity, Inc.
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