DUBLIN -- (BUSINESS WIRE) -- Research and Markets (http://www.researchandmarkets.com/research/pgpd6l/locationbased) has announced the addition of the "United States Location-based Search and Advertising Market 2014-2018 with Foursquare Labs, Google, Groupon & xAD Dominating" report to their offering.
The Location-based Search and Advertising market in the US will grow at a CAGR of 43.01% to 2018.
The Location-based Search and Advertising market in the US can be divided into three segments based on application into Search, Display, and Messaging. The market can also be divided into two segments based on the type of advertising into Push Advertising and Pull Advertising.
In addition to traditional advertising media such as electronic and print media, social media marketing is gaining much popularity among SMEs in the US. This is because social media marketing is highly effective, affordable, and ensures real-time advertising, all of which helps SMEs to effectively communicate with their target audience. In addition, many restaurants and leisure service providers are attracting customers, especially those in the immediate vicinity of their locations, with innovative deals, offers, and coupons. Thus, the growing adoption of location-based advertisements by SMEs is driving the growth of the Location-based Search and Advertising market in the US over the next few years.
One of the main drivers in this market is the increasing adoption of location-enabled smartphones and tablets. The penetration and sales of GPS-enabled smartphones and tablets have increased significantly in the US. In 2013, the US reported a penetration rate of more than 65 percent for location-enabled smartphones, and this is expected to increase to over 90 percent by 2016.
Further, the report states that one of the major challenges in this market is the increasing concerns over privacy. To receive location-based coupons, deals, and advertisements, customers have to reveal their location to advertisers and other third parties. For instance, the user check-in information in Foursquare, which is stored in its database, can be retrieved and used by third-party advertisers without the users' consent.
The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Key Topics Covered:
For more information visit http://www.researchandmarkets.com/research/pgpd6l/locationbased