Proximity Marketing Market 2019: Profit Analysis, Size, Share, Industry Growth and Global Trends by Forecast to 2023

September 07 15:16 2019
Proximity Marketing Market 2019: Profit Analysis, Size, Share, Industry Growth and Global Trends by Forecast to 2023

Proximity Marketing Market
Global Proximity Marketing Market is expected to grow at approximately USD 52 Billion by 2023, at 28% of CAGR between 2017 and 202

Proximity Marketing Market Highlights:

Proximity marketing is a platform that provides a hyper-localized strategy to send highly-targeted messages to the people at specific locations. These messages contain information about the stores, entertainment & shopping places, and eateries nearby so as to drive the traffic to the actual brick and mortar shop. While location-based marketing tracks the approximate location of devices using GPS technology, proximity marketing aims to send messages to people based on their specific location.

Over the past few years, the market for proximity marketing is growing leaps and bound. Reason being, growing competition across the industries, and increasing emphasis on business intelligence. The increasing adoption of smartphone and the development of analytical tools is a significant factor escalating the market on the global platform.

According to an eminent research firm, Market Research Future (MRFR), the global Proximity Marketing Market is poised to get evaluated at approximately USD 52 BN by 2023, at a whopping CAGR of 28% throughout the forecast period (2017 to 2023). The rapidly growing eCommerce sector is a key driving force behind the growth of the market.

Additionally, high adoption of futuristic technologies such as BLE beacon in the retail industry and increasing application of it in multi-channel marketing are some of the factors substantiating the market growth. Market penetration of GPS geofencing that enables users to enhance their business by sending push notification to the people who are into close proximity of their store is further fuelling the market growth.

On the other hand, complexities of technicalities in deploying beacons technology successfully, due to their needs for apps, Bluetooth, and opting in options, etc. are impeding the growth of the market. Conversely, beacons provide marketers with a lot of data and they’re easy to set-up, which would support the growth of the market, increasing the uptake of beacons.

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Major Key Players:

Players leading the proximity marketing market include Google Inc. (US), Apple Inc. (US), Microsoft Corporation (US), Zebra Technologies Corporation (US), Qualcomm Inc. (US), Bluvision Inc. (US), inMarket Media LLC (Italy), Estimote Inc. (US), Proxama PLC (UK), and ROXIMITY (US), among others.

Proximity Marketing Market Segments:

For a better understanding, the report has been segmented into four key dynamics:

  • By Component: Hardware (Sensors, RFID tags, and others), Software (Content Management System, Location Analytics, Context Accelerator & Geofencing, and others), By Service (Consulting Service, Deployment & Integration Services, Application Support & Maintenance Services, and others.) 
  • By Technology: Wi-Fi, BLE Beacon, Near Field Communication (NFC), and GPS Geofencing, among others.
  • By Application: Retail & E-Commerce, Healthcare, Infrastructural, Media & Entertainment, Transportation & Logistics, Hospitality, and BFSI, among others.           
  • By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.

Proximity Marketing Market Regional Analysis:

The North American region is projected to remain the largest market for proximity marketing, globally, throughout the forecast period. The presence of major technology providers equipped with advanced technologies alongside, the implementation of cutting-edge technology in the advertisement sector in the region drives the growth in the market. Rise in the usages of the Internet and smartphones and an increasing number of shoppers depending on reviews and shopping experience of others drive the growth of the market.

The Europe proximity marketing market accounts for the second-largest market, globally.  The presence of various notable players provides a competitive advantage to the regional market. Huge deployments of proximity marketing platforms by middle and large enterprises are some of the major factors that drive the regional market.  High adoption of proximity marketing across the growing number of agencies, brands, and retailers, propels the growth of the regional market.

Proximity Marketing Market Competitive Analysis:

Characterized by the presence of a number of well-established players, the proximity marketing market appears to be highly competitive. These players incorporate strategic initiates such as acquisition, collaboration, expansion, and technology launch to gain a competitive advantage and thus to maintain their position in this market. Such strategic moves support the growth and expansion plans of players incorporating them.

Market players enable agencies, brands, retailers, shopping malls, and others to power mobile, and other digital shopping experiences. They strive to provide the data & analytics to power mobile shopping experiences that drive consumers’ path to purchase in brick-and-mortar locations

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Industry/Innovation/Related News:

June 26, 2019 – ShopAdvisor, Inc. (the US), a leading global provider of end-to-end proximity marketing solutions, launched a new mobile marketing platform that can help small brands boost traffic.

The new platform, a customer acquisition accelerator program, is designed for small and mid-sized QSR and fast casual restaurants.  It provides a virtual turnkey and cost-effective way to grow brand awareness, target prospective customers with the right offer at the right time, increases traffic to restaurant locations, and generates sales lift.

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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