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Technavio’s market research analyst predicts the location-based search and advertising market in the US to grow at a CAGR of more than 38% during the forecast period. Location-based search and advertising is an emerging trend, and it is expected to grow remarkably during the forecast period because it offers cost-effective communication that helps SMEs achieve their business goals.
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. For instance, the typical beacon’s cost would range from $30 - $40 and the only other cost that incurs would be the time and resources required to create the content.
In terms of technology, the push advertising segment is leading the location-based search and advertising market in the US, as the majority of the companies in the US are making massive investments in this segment and hence, it is expected to witness further growth in the forecast period.
Messaging through SMS is the easiest and cost-effective method of advertising to consumers due to the increasing penetration of smartphones and the decreasing price of data services. Therefore, the messaging application segment is expected to witness a significant growth compared to other application methods in the forecast period.
The location-based search and advertising market in the US is highly fragmented with the presence of various stakeholders such as advertisers, platform providers, application developers, navigation providers, and mobile operators. Also, since location-based search and advertising is a substitute for electronic and print media advertising, many regional SMEs are shifting their investments to this market.
The top vendors in the market are -
Other prominent vendors in the market include Yoose, Verve, Thumbvista, Ping Mobile, Qualcomm Izat, Thinknear, Polaris Wireless, Waze (Google), bfonics, Gimbal, and Social Retail.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Market segmentation by technology
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Appendix
PART 15: Explore Technavio
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