In proximity marketing, wireless location-based spreading channel advertises content to consumers who are looking for shopping in their nearby place. Individuals interested in activating the service through phone or another device can receive those messages. Market Research Future (MRFR) has published a research report that foretells massive growth for the global proximity marketing market with 28% CAGR (Compound Annual Growth Rate) between 2017 and 2023. In terms of cash, the market is expected to rise with the US $ 52 bn by the end of the forecast period.
Observing the market structure, this report evaluates the future growth potential of the Proximity Marketing Market and analyzes the strategies of the key players in the market. It also follows the competitive developments such as joint ventures, new product developments, mergers and acquisitions, new product developments (R & D) in the market. According to this report, the key factors that are driving the growth of this market include growing competition among various sectors, the increasing importance on business intelligence, and increasing adoption of smartphone and development of the analytical tool.
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Major Key Players:
The key players in the global proximity marketing market include Apple Inc. (USA), Bluvision Inc. (USA), Estimote Inc. (USA), Google Inc. (USA), inMarket Media LLC (Italy), Microsoft Corporation (USA), Proxama PLC (UK), Qualcomm Inc. (USA), ROXIMITY (USA), and Zebra Technologies Corporation (USA).
The global proximity marketing market has been segmented on the basis of application, components, technology, and lastly region. Based on application, this market has been segmented into Banking, Financial Services and Insurance (BFSI), healthcare, infrastructural, media & entertainment, retail & e-commerce, transportation & logistics and others. On the basis of the component, the market has been segmented into hardware, software, and services.
Hardware has been further segmented into sensors, Radio-frequency identification (RFID), and others. The sub-segmentation of software covers content management system (CMS), context accelerator & geofencing, and location analytics. The segmentation of services covers consulting service and technology & integration services. The technology-based segmentation of the market comprises of Bluetooth low energy (BLE) beacon, near field communication, global positioning system (GPS) geo-fencing, Wi-Fi, and others. According to the report, the BLE beacon segment has been estimated to witness the highest growth during the forecast period.
The regional segmentation of the global proximity marketing market has segmented the market into regional markets namely North America, Europe, Asia Pacific, and the rest of the world (RoW). In North America, the market is growing due to technological advancement and high adoption of proximity marketing tools in retail and healthcare sector. Proximity marketing is popular among youths due to busy work schedule and changing lifestyle. The biggest markets in this region are the United States of America (USA) and Canada. Many key players of this market are based in North America and Europe.
According to the report, Europe is one of the prominent markets for proximity marketing market due to the emergence of e-commerce industries from the region. Maximum market revenue in this region comes from France, Germany, and the United Kingdom (UK). During the forecast period, Asia Pacific market has been estimated to be one of the fastest growing markets as governments of various countries in this region are continuously investing into R&D of proximity marketing market. Increasing IT landscape is also boosting the market in the region. Due to increasing IT infrastructure and robust industrialization Developing countries such as India and China are adopting proximity marketing at a large scale, spelling boost for the market in the region. By software segment, content management system and location analytics are driving the market in this region.
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Latest Industry News:
- HPIL Holding has completed the acquired proximity marketing business known as MyFlyWiFi from My Boca Holdings Inc. and Mr. Ray Wong of Boca Raton, Florida. 27 AUG 2018
- National Payments Corporation of India (NPCI), the umbrella organization for all payment systems in the country, has launched a pilot in order to allow proximity payments through UPI. The pilot project has commenced in collaboration with PhonePe, ToneTag, and UltraCash. 20 APR 2018
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