The latest report published by IMARC Group, titled “Location Based Advertising (LBA) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on Location Based Advertising (LBA) market size. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global location based advertising (LBA) market is expected to exhibit a growth rate (CAGR) of 11.6% during 2023-2028.

Location-Based Advertising (LBA) is a specialized form of digital advertising that targets potential customers based on their geographical location. Utilizing real-time data gathered from smartphones or other GPS-enabled devices, LBA delivers relevant ads to users when they are in proximity to a particular physical space such as a retail store or restaurant. The technology leverages advanced algorithms to analyze consumer behavior, location history, and current geographical position to offer targeted advertising messages. LBA is characterized by its high degree of personalization, which aims to increase user engagement and click-through rates. The primary advantages of LBA include greater ad relevance, more effective use of marketing budgets, and the ability to reach consumers at a time when they are most likely to make a purchase.

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Market Trends:

The global market is principally driven by the widespread adoption of smartphones equipped with GPS capabilities. In line with this, the growth in mobile e-commerce is compelling marketers to turn to LBA as a more effective method of reaching consumers, thereby providing an impetus to the market. Moreover, advancements in artificial intelligence and data analytics are acting as significant growth-inducing factors, enabling more personalized and precise targeting. In addition to this, the general rise in digital advertising spend is fueling increased investment in LBA solutions. Some of the other factors contributing to the market include the embrace of Internet of Things (IoT) in marketing strategies, heightened privacy regulations that actually validate quality LBA providers, the development of smarter cities with more data touchpoints, and the implementation of more efficient payment systems that facilitate quicker purchases following ad engagement.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Emodo Inc. (Telefonaktiebolaget LM Ericsson)

• Foursquare Labs Inc.

• Google LLC

• GroundTruth

• International Business Machines Corporation

• Near Pte. Ltd.

• Scanbuy Inc.

• Shopkick Inc. (Trax)

• Telenity Incorporated

• YOOSE Pte. Ltd

Location Based Advertising (LBA) Market Segmentation:

Our report has categorized the market based on region, type, content and application.

Breakup by Type:

• Push

• Pull

Breakup by Content:

• Text

• Multimedia

Breakup by Application:

• Retail Outlets

• Public Spaces

• Airports

• Others

Breakup by Region:

• North America (United States, Canada)

• Europe (Germany, France, United Kingdom, Italy, Spain, Others)

• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

• Latin America (Brazil, Mexico, Others)

• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:

• Market Performance (2017-2022)

• Market Outlook (2023-2028)

• Porter’s Five Forces Analysis

• Market Drivers and Success Factors

• SWOT Analysis

• Value Chain

• Comprehensive Mapping of the Competitive Landscape

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