What is Proximity Marketing?
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.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 28.3% |
Analysts at AMA Research estimates that Vendors from United States will contribute to the maximum growth of Global Proximity Marketing market throughout the predicted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
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 that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Swirl Networks (United States), Unacast (United States), Foursquare Labs, Inc. (United States) and Scanbuy Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global Proximity Marketing market by Type (Wi-Fi, BLE Beacon, Near Field Communication (NFC), GPS Geofencing and Others), Application (Retail & E-Commerce, Healthcare, Infrastructural, Banking, Financial Services, and Insurance (BFSI) and Other) 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 2021. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Services, the sub-segment i.e. Consulting Service will boost the Proximity Marketing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Software, the sub-segment i.e. Content Management System will boost the Proximity Marketing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Location, the sub-segment i.e. Indoor will boost the Proximity Marketing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
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.”
Market Drivers
- Stiff Competition Between the Business Intelligence Boost the Proximity Marketing Market.
- Rapid Demand of Smartphones and Development of Analytical Tools Fuelled Up Market.
Opportunities
- 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.
Restraints
- Security and Privacy Concerns Hamper the Proximity Marketing Market.
- Low Awareness among End Users.
Challenges
- Limitation on the Consumer Behavior are Anticipated to Challenge the Market.
- Lack of Expert Workforce Diminished the Proximity Marketing Market.
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
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.