Location-based Advertising Market to Witness Robust Expansion by 2031

Global location-based advertising market is anticipated to grow at a CAGR of 14.5% during the forecast period (2024-2031). A major factor supporting the growth of the market is fueled by a surge in innovative advertising technologies. Technological advancements like Global Positioning System (GPS), geofencing, and advanced data analytics are enabling advertisers to target consumers with increased focus as it allows advertisers to leverage user location data to deliver highly personalized and relevant ads such as if a person is walking past a coffee shop and receiving a notification for a discount on his/her favorite product they tend to buy that product. This level of personalization increases engagement and conversion rates, making location-based advertising more attractive to businesses.

Artificial intelligence (AI) is emerging as a game-changer in location-based advertising. By analyzing vast amounts of data on consumer demographics, location trends, and purchasing habits, AI can predict where users are most likely to be receptive to specific advertisements. This allows for proactive targeting, reaching consumers even before they enter a specific location, and influencing their purchase decisions at the crucial moment. This smarter analysis enhances the accuracy of targeted advertising, allowing businesses to predict and cater to consumer needs with more precision and efficiency in their marketing strategies. For instance, in February 2023, Cidewalk Technologies Inc. launched BannerAI an OpenAI-powered free digital billboard ad creative service, to complement its new flagship RTB-enabled programmatic billboard advertising platform.

Governments are making investments in geospatial technology by promoting the rules and infrastructure necessary to handle location-based data. Precise location-based services are made possible by these investments in open data, GPS, and improved mapping. The location-based advertising business benefits from this support since it makes geotargeting more accurate and dependable. For instance, in December 2022, the Indian government launched the National Geospatial Policy, targeting startup encouragement and technological advancement. This initiative was aimed at propelling geospatial innovations to aid diverse sectors reliant on accurate location data.

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Market Coverage

• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031

Segment Covered- 

• By Type
• By Advertising Type
• By End-User

Regions Covered-

• North America
• Europe
• Asia-Pacific
• Rest of the World

Competitive Landscape- Google LLC, IBM, Meta Platforms, Inc., Microsoft, Amazon.Com, Inc., and Oracle, among others.

 Location-based Advertising Market Report Segment

By Type

• Geo-targeting
• Geo-fencing
• Beaconing
• Mobile Targeting
• Geo-conquesting

By Advertising Type

• Push
• Pull

By End-User

• Retail and E-commerce
• Travel and Hospitality
• Entertainment and Media
• Healthcare
• Automotive and Transportation
• Others (BFSI)

A full Report of Location-based Advertising Market is Available @ https://www.omrglobal.com/industry-reports/location-based-advertising-market

Location-based Advertising Market Report Segment by Region

North America                                                                                                           

• United States
• Canada

Europe

• UK
• Germany
• Spain
• France
• Italy
• Rest of Europe

Asia-Pacific

• India
• China
• Japan
• South Korea
• Rest of APAC

Rest of the World

• Latin America
• Middle East and Africa 

Company Profiles

• Adobe, Inc. 
• Cidewalk Technologies Inc.
• Cuebiq Group, LLC
• Enradius
• Emodo, Inc.
• Foursquare
• GroundTruth
• Oracle Corp.
• Salesforce, Inc. 
• Simplifi Holdings, LLC
• Telenity, Inc.
• Yext, Inc. 

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