The location targeted mobile advertising market is expected to grow at a CAGR of 16.87% over the forecast period (2021-2026). It is the distribution of advertisement messages to cellular users located in specific geographic locations, which enables the marketers to deliver ads that are customized to an individual’s tastes and geographical location, at any time of the day.

- Moreover, the advancement in mobile communication and geo-positioning technologies is expected to augment the steady momentum of the location-targeted mobile advertising market globally.
- Location-based personalization of any advertisement is expected to create a positive experience for the customer and an increase in the effectiveness of the advertisement campaign.
- The increase in the adoption of 5G technology in the coming years is also expected to drive the market further due to the faster and more accurate location tracking offered by 5G technology.

Key Market Trends

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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.

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.

Competitive Landscape

The location targeted mobile advertising market concentration is moderately fragmented, with the companies offering various technologies to the marketers. However, the major players, like Google and Facebook, dominate other players in terms of market shares.

- In 2019, InMarket announced its plans to acquire Thinknear to expand its market share in Location-Based Mobile Marketing. The combination of Thinknear and inMarket businesses will create a location-based marketing technology platform with clients across various industries.
- Major players, such as Google and Facebook, contributed about 63% of the US digital ad revenues in 2017. However, various marketers are starting to recognize the need for other options in the market.

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For sample report please visit: https://www.statzyreports.com/report/sr497462/location-targeted-mobile-advertising-market