Taco Bell would love nothing better than to offer you a coupon for a Triple Steak Burrito when you’re just a block away. Retailers are jumping at the chance to entice with special offers when you’re walking by the door.
Some of that’s already happening. And it’s only going to grow as adoption of GPS-enabled devices accelerates.
That assurance comes via a new Technavio report on the global mobile location-based services (LBS) market, which is expected to grow at a CAGR of over 36 percent from through 2019.
“The latest report by Technavio draws attention towards the location-based advertising services that are gaining popularity because of the increased adoption of LBS,” notes a statement provided to MMW. “Location-based advertising (LBA) is the newest form of mobile advertising that uses LBS technology and targets users based on their current location.”
Technavio execs are seeing more and more interest in LBA.
“Some important examples of location-based advertising are alerts for flash sales, happy hours at a nearby pub, and special discounts offered to the customers at restaurants,” says Faisal Ghaus, Vice President of Technavio.
Technavio’s report also examines the use of social networking sites such as Facebook, Twitter, and other mobile platforms that are experiencing impressive growth.
“End-users have started sharing information such as their location through these sites,” said Ghaus. “Therefore, these websites, as well as smartphone manufacturers, have integrated with LBS providers to enhance the user experience.”
The report covers current conditions and growth prospects for global mobile location-based services from 2015-2019. It examined the revenue generated LBS-enabled mobile devices such as smartphones, tablets, and wearable devices; outdoor and indoor mobile LBS; and emergency services using mobile LBS platforms.
Also analyzed were the impacts of key vendors, including Facebook, Foursquare, Google, Groupon, HERE, and TomTom NV.