DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/x6fqt4/global) has announced the addition of the "Global Location-based Search and Advertising Market 2015-2019" report to their offering.
The Global Location-based Search and Advertising market to grow at a CAGR of 43.23% over the period 2015-2019
Location-based search and advertising deals with the concept of integrating the advertisements with the location based solutions. It is used to stand out a particular set of customers based on their interests and location. There are two types of advertisements that comes under location based search as push advertisements and pull advertisements.
One major trend emerging in this market is the increased adoption of Web 2.0-based applications. Web 2.0 has emerged as a major trend in the online space for two-way communication between users and a company. Most of the vendors and application developers are designing applications that help in integrating social networking sites with LBS, which helps them target the potential users easily.
According to the report, one of the major drivers of the market is the increased adoption of cost-effective marketing techniques. Intense competition has compelled companies to focus on effective marketing communication, where the cost of converting an individual into a loyal customer is lower. Location-based marketing serves this purpose because the user opts for customized promotional deals and offers based on his current location. This leads to personalized marketing, which adds value to the overall process of effective marketing communication for the company. The customer turnout ratio is higher in this case because the potential for the company to increase its customer portfolio is high.
Further, the report states that one of the major challenges that the market faces is the lack of data availability. A user needs to put in information about his location to get relevant information on the current events in his vicinity. Limited information about the target audience leads to the failure of a marketing campaign.
The Global Location-based Search and Advertising market by Application can be segmented into:
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