DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Global Location-based Search and Advertising Market 2016-2020" report to their offering.
The report forecasts the Global Location-Based Search and Advertising Market to grow at a CAGR of 45.95% during the period 2016-2020.
An emerging trend in the LBS market is the use of LED fixtures. The use of LED fixtures for location-based services is cost-effective for indoor locations as it eliminates the need for additional hardware chips manufactured by lighting companies are embedded in the overhead LED lights used in offices. The chips communicate using consumer's smartphones and use sensors to track the direction in which users move inside stores. Indoor location-based services that use LED fixtures provide directions in airports, museums, and retail shops, where these services help shoppers locate the appropriate products. In addition, LBS help retailers to offer customized sales offer to buyers, thus boosting the volume of sales.
According to the report, a key driver of market growth is the reduced cost of marketing and enhanced customer outreach. Most of the enterprises such as retail, automotive, logistics, and food processing use the location-based search and advertisement platform to minimize their operational costs. In the past, traditional media such as billboards and pamphlets were employed for advertising. However, an increasingly intensified competitive environment and lower margins have prompted companies to shift focus toward targeted form of publicity that helps to increase operational efficiency and profitability. Compared to traditional media, location-based search and advertising send more targeted advertisements to consumers.
Further, the report states that one challenge that would likely hamper market growth is the limited bandwidth and incompatible location technology used by advertising companies.
Key vendors:
- Admoove (HiMedia)
- Foursquare
- Groupon
- Near
-
xAd
Key Topics Covered:
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 type of advertising
PART 07: Market segmentation by application
PART 08: Geographical segmentation
PART 09: Market drivers
PART 10: Impact of drivers
PART 11: Market challenges
PART 12: Impact of drivers and challenges
PART 13: Market trends
PART 14: Vendor landscape
For more information visit http://www.researchandmarkets.com/research/fmsl5z/global
