What is Proximity Marketing Market?
Proximity Marketing is known as wireless location based spreading channels of advertising medium that connect to consumers. Proximity Marketing market is expected to mark significant growth over forecasted period owing to increasing demand of multi-channel marketing, providing high adoption of BLE beacon and technological advancement. There has been significant rise in active beacons in their spaces with figure stood up to 3.5 million in United States alone in 2018, the future for proximity marketing looks promising. This result in rising availability of spatial data and analytical tools platforms and escalating penetration of mobile phones may trigger demand and help in industry expansion.
The market study is being classified by Type (Wi-Fi, BLE Beacon, Near Field Communication (NFC), GPS Geofencing and Others), by Application (Retail & E-Commerce, Healthcare, Infrastructural, Banking, Financial Services, and Insurance (BFSI) and Other) and major geographies with country level break-up. According to AMA, the Global Proximity Marketing market is expected to see growth rate of 28.3% and may see market size of USD52342.0 Million by 2026.
Apple Inc. (United States), Google Inc. (United States), Microsoft Corporation (United States), Qualcomm Inc. (United States), Zebra Technologies Corporation (United States), Bluvision Inc. (United States), Estimote Inc. (United States), inMarket Media LLC (Italy), Proxama PLC (U.K.), ROXIMITY (United States) and Shopkick Inc. (United States) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Swirl Networks (United States), Unacast (United States), Foursquare Labs, Inc. (United States) and Scanbuy Inc. (United States).
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Proximity Marketing market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Proximity Marketing market by Type, Application and Region.
On the basis of geography, the market of Proximity Marketing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Stiff Competition Between the Business Intelligence Boost the Proximity Marketing Market.
- Rapid Demand of Smartphones and Development of Analytical Tools Fuelled Up Market.
- Increasing demand in developing countries
- Rise in demand of 4G technology boost the proximity marketing market
- Security and Privacy Concerns Hamper the Proximity Marketing Market.
- Low Awareness among End Users.
- Rise in Retail and E-Commerce Sector Leads to Grow the Proximity Marketing Market.
- Upsurge Demand Due to Technological Advancements Such as Field Communication, GPS Geo Fencing and Others.
- Limitation on the Consumer Behavior are Anticipated to Challenge the Market.
- Lack of Expert Workforce Diminished the Proximity Marketing Market.
In August 2018, HPIL Holding completely acquired MyFlyWiFi. This acquisition is beneficial in providing mobile user to receive an advertising message or other customizable content based on their location.It also delivers highly customized promotions, coupons to individuals.
“According to Privacy Act, its provide privacy to customers upon proximity marketing, where individual's personal information is handled. It also provides personal information by lawful and fair means and from the customer themselves, unless it is unreasonable or impractical to do so.”
Key Target Audience
Proximity Marketing Manufacturers, Proximity Marketing Traders, End-Use Market Participants of Different Segments of Proximity Marketing, Government and Research Organizations, R&D Institutions and Others
Frequently Asked Questions (FAQ):1. Which factors would majorly drive the Proximity Marketing Market?
"Stiff Competition Between the Business Intelligence Boost the Proximity Marketing Market.
" is seen as one of major growth factors of Proximity Marketing Market in years to come.2. Can we have customized study for Proximity Marketing Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.