Select Language
According to the latest report by IMARC Group, titled "Location Based Advertising (LBA) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global location based advertising (LBA) market to grow at a CAGR of 13.20% during 2022-2027. Location based advertising (LBA) refers to a form of advertising that allows businesses to provide location-specific advertisements on mobile devices. It combines location-based services (LBS) with mobile advertising for targeting consumers at a granular level via offline and online messaging services. Additionally, it involves the utilization of a global positioning system (GPS)-targeting technology to reach a specific target audience by creating new campaigns and driving traffic and sales. Its adoption assists enterprises to reach their customers based on several factors, such as events happening and proximity to a store across the location. In comparison to billboard advertising, it is convenient, cost-efficient and targets a larger audience.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Location Based Advertising (LBA) Market Trends:
The global market is primarily driven by the widespread penetration of global positioning system (GPS)-enabled devices. This is supported by the availability of high-speed internet connectivity and rapid digitization across industrial verticals. Moreover, the rising funding by private and public agencies in order to expand the 5G infrastructure is also propelling the market. This has encouraged leading players to heavily invest in the deployment of location-based advertising solutions, thereby catalyzing the market growth. Moreover, continuous developments in the e-commerce infrastructure, coupled with the rapid outbreak of coronavirus (COVID-19) that has impelled the masses to adopt online shopping services, are impacting the market favorably. Furthermore, the increasing investments by key players in the development of aggressive marketing strategies and promotional campaigns are creating a positive outlook for the market. Other factors, including rapid urbanization, the emerging information technology (IT) sector, the growing initiatives towards smart city development and intensive business competition, are also influencing the growth of the market.
Market Summary:
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us
IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91-120-433-0800 )
Drop us an email at
sales@imarcgroup.com