The Global Location-based Search and Advertising market is to grow at a CAGR of 49.49 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing use of location-based application-enabled mobile media. The Global Location-based Search and Advertising market has also been witnessing the increasing adoption of location-based advertising by certain notable global brands. However, the increasing concern about privacy could pose a challenge to the growth of this market.
Currently, many big retail, restaurant, food, beverage, and travel companies are investing in location-based advertising to attract potential customers. For instance, in China, Starbucks Corp. tied up with Jiepang API, the leading Chinese location-based platform developer and service provider, for its Valentine's Day offers. Similarly, in the US, McDonald's promotes its products and prices through an iAd campaign. Further, as the results of the location-based campaigns are encouraging, an increasing number of advertisers are feeling more comfortable investing in location-based mobile advertising. In addition to this, as location-based advertisements are bringing about a change in marketing perceptions and investment in new technologies and creative concepts, more big brands are adopting location-based advertising.
One of the major drivers is the increasing use of location-based application enabled mobile media. Earlier, smartphones were mostly used for voice and internet browsing purposes. However, equipped with more functionalities and applications, the latest smartphones are capable of performing several other tasks. This allows users to run location-based services such as location finder and navigation software in their mobile devices.
The key vendors dominating this market space are Foursquare Labs Inc. Jiepang API, Loopt Inc. The other vendors mentioned in the report are AdMoove, ATandTMobility, BhartiAirtelLtd., BLIPSystemsA/S, ChalkBoard Pte Ltd., FranceTelecomSA, MTNGroupLtd., NavteqCorp., Placecast, PoyntCorp., ProximusMobilityLLC, QypeGmbH, ScanbuyInc., ShopkickInc., Taganode, TaptuLtd., TeleCommunicationSystemsInc., Telemap Ltd., TeleNav Inc., TomTom Inc., VodafoneGroupPLC, xAD Inc., and Xtify Inc.
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