Proximity Marketing Market Growth, Trends, Share, Size by 2031
Analyst Perspective
The market of proximity marketing has grown considerably over the past couple of years. The future of the proximity marketing market looks promising, driven by the increasing number of mobile phone users and the desire for personalized and targeted marketing experiences. By leveraging location-based technologies, businesses can engage with customers in real time, deliver relevant content, and enhance their overall marketing efforts. The availability of advanced analytic tools has helped the market flourish.
Market Overview
Proximity marketing, also known as hyperlocal marketing, is a type of marketing that uses cellular technology to communicate with the users. It uses Bluetooth and Wi-Fi technology to convey a range of marketing messages. Proximity marketing is used in application support and maintenance, consultation, deployment, and integration. The narrow focus allows it to give a more personalized experience. The rising competition among companies in various industries and the emphasis on business learning (BL) are boosting market growth. The North America region is expected to hold a substantial market share owing to the availability of significant technology providers in the region. The market is anticipated to expand with a CAGR of 22.1% during 2023-2031.
Market Driver
The Demand for Personalization
Proximity marketing has the ability to give a more personalized experience to the users. Personalization allows marketers to create a tailored and personalized experience for customers, enhancing their overall customer experience. By leveraging location-based technologies and customer data, businesses can send highly relevant and targeted advertisements to customers based on their locations. This level of personalization demonstrates that businesses care about their customers' user experience, leading to increased customer loyalty.
Market Scope
The "Global Proximity Marketing Market Analysis To 2031" is an in-depth and specialized study of the technology, media, and telecommunications industry focusing on global market trend analysis. The report aims to provide an overview of the proximity marketing market with detailed market segmentation by component, location, technology, application, and geography. The market is anticipated to experience high growth during the forecast period. The report gives vital statistics on the market status of the leading proximity marketing market player and offers key trends and opportunities.
Market Segmentation
The global proximity marketing market is segmented based on components, location, technology, and application. Based on the component, the market is segmented into hardware, software, and services. On the basis of location, the market is segmented into indoor and outdoor. On the basis of technology, the market is segmented into Wi-Fi, Near Field Communication (NFC), and others. Based on the application, the market is segmented into retail, healthcare, transportation and logistics, hospitality, and others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including qualitative and quantitative information. It provides an overview and forecast of the global proximity marketing market based on various segments. It also provides market size and forecast estimates from 2021 to 2031 regarding the five major regions, namely, North America, South & Central America, Europe, Middle East and Africa (MEA), and Asia-Pacific (APAC). The market by region is later segmented into countries and segments. The proximity marketing market report covers the analysis and forecast of 18 countries globally, along with the current trends and opportunities in the region.
The report analyzes factors affecting the proximity marketing market from demand and supply. Further, it evaluates market dynamics impacting the market during the forecast period, i.e., opportunities, future trends, drivers, and restraints. The report also provides an in-depth PEST analysis highlighting factors impacting the proximity marketing market in the regions.
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The report provides a detailed overview of the industry, including qualitative and quantitative information. It provides an overview and forecast of the global proximity marketing market based on various segments. It also provides market size and forecast estimates from 2021 to 2031 regarding the five major regions, namely, North America, South & Central America, Europe, Middle East and Africa (MEA), and Asia-Pacific (APAC). The market by region is later segmented into countries and segments. The proximity marketing market report covers the analysis and forecast of 18 countries globally, along with the current trends and opportunities in the region.
The report analyzes factors affecting the proximity marketing market from demand and supply. Further, it evaluates market dynamics impacting the market during the forecast period, i.e., opportunities, future trends, drivers, and restraints. The report also provides an in-depth PEST analysis highlighting factors impacting the proximity marketing market in the regions.
MARKET PLAYERS
The reports cover key developments in the proximity marketing market as inorganic and organic growth strategies. Many companies are centering on organic growth strategies such as product launches, approvals, patents, and events. Inorganic growth strategies activities seen in the market were acquisitions and partnerships & collaborations. The activities have made way for business expansion and customer base of market players. The market players from the proximity marketing market are anticipated to have lucrative growth opportunities in the future with the rising demand for proximity marketing in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the proximity marketing market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information for the last 3 years, and the key developments in the past five years. The list of a few companies engaged in the proximity marketing market is mentioned below.
- Apple Inc.
- Bluvision Inc.
- Estimote Inc.
- Google Inc.
- Microsoft Corporation
- Proxama PLC
- Qualcomm Inc.
- ROXIMITY
- Unacast
- Zebra Technologies Corporation
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
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Segment Covered
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to segments covered.
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
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to country scope.
- Apple Inc.
- Bluvision Inc.
- Estimote Inc.
- Google Inc.
- Microsoft Corporation
- Proxama PLC
- Qualcomm Inc.
- ROXIMITY
- Unacast
- Zebra Technologies Corporation
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.