Market Trends of Location Targeted Mobile Advertising Industry
This section covers the major market trends shaping the Location Targeted Mobile Advertising Market according to our research experts:
Retail Segment to Witness Significant Growth
- The rise in the usage of the smartphone by individuals globally is encouraging retails to adopt location-targeted mobile advertising as they can increase the footfalls if they target customers that are in the vicinity to the store and with personalized content.
- Various developing countries are witnessing better penetration of smartphones with 82% against 80% in developed countries and the smartphone shipments are expected to reach 2.2 billion units globally in the year 2019.
- A study conducted by Swirl witnessed 73% of customers who received a beacon-triggered message on their mobile devices said it increased their desire of making a purchase when visiting the store, while 61 percent told that the notification would make them go to the store more frequently.
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North America is expected to hold major share
- North America is expected to witness a major share for the location-targeted mobile advertising market thanks to the increasing smartphone usage and the growth of IoT technology within the region. The region is home to some of the major players in the market such as Google and Facebook.
- Barneys New York, a chain of US department stores uses location-based marketing model using beacons where their dedicated app provides users all the available items which are in stock whenever the user is near any store and even receive the recommendation of nearby restaurants and attractions.
- In 2017, U.S. companies spent USD 17.1 billion on location-targeted mobile advertising and are expected to witness a further increase in the future due to the large scale implementations of 5G and IoT technologies in the country which would offer even more seamless location tracking and communication among the connected devices.
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