Geolocation technology is growing at a very rapid rate, and the market will be considerably larger in 2018.
A Berg Insight Report is now making recent news as it has revealed that location based marketing and advertising will soon make up a healthy 7 percent of all digital ads, which means that its popularity will be expanding quite rapidly over the next four years.
This will mean that geolocation advertising will represent 2 percent of all global ad spending.
If the report from the analysis firm is correct, then it will mean that the total value of the real time mobile location based marketing and advertising marketplace will have risen from where it was last year, at $1.66 billion, at a 54 percent compound annual growth rate (CAGR), to the point that it will have reached $14.8 billion by 2018.
This will then mean that location based marketing will make up 38.6 percent of all mobile advertising.
The report also underscored some of the latest evolutions in the real time mobile location based marketing ecosystem. This includes the latest popular geolocation using technologies such as the beacons that use Bluetooth low energy (BLE). Though even the most commonly used among these methods is still relatively rare, Berg Insight predicts that the adoption of beacon using methods will have exploded before the end of 2014.
This use of beacon technology will be used the most among retail marketers that will be adopting them as a part of innovative new programs to help to engage with consumers and provide them with ads and content that they will find useful and relevant. This will also be very appealing to retailers as it will provide them with a far greater opportunity to understand how customers use their stores, from the time spent in various areas, to the actual navigation patterns.
According to Berg Insight senior analyst, Rickard Andersson, while discussing this location based marketing study, “The concept of Bluetooth marketing has been reinvigorated following Apple’s introduction of iBeacon in 2013.” He added that the broadening of the beacon ecosystem now includes a number of other very important players, including Qualcomm and PayPal, as well as some promising startups, such as Shopkick and Swirl.
A new tech from the company could be able to alter the way that mobile device users function.
A new form of Qualcomm geolocation technology that can be used for the formation of a series of on-the-fly, reliable wireless networks could soon also be able to provide the users of high end mobile devices throughout the United States with a completely new and different experience that would marry their digital identity and their live presence.
The tech has been labeled with the name GIMBAL smartphone technology.
GIMBAL has just recently been moved from the Qualcomm Labs into that chip makers unit for retail services. This geolocation based tech could prove to have a tremendous range of different applications. At the moment, focus is starting to be placed on the possibility that consumers will be willing to share their location in order to receive shopping offers and deals and improved convenience, in return.
Devices powered by GIMBAL could help to skyrocket geolocation based digital content.
This could help the location based marketing and advertising industry to take off, beyond the requirement for internet WiFi connection. This mobile tech first proved itself in Austin at the SXSW, in which it allowed the automatic establishment – and subsequent dismantling – of a number of ad hoc, secure networks for 150 highly interactive design sessions. This was accomplished by a Vancouver, Canada based wireless events startup.
According to the co-founder of Eventbase, Jeff Sinclair, “This wasn’t possible before GIMBAL. GPS wasn’t precise enough,” to spontaneously create indoor mapping and data collection at live events. Eventbase was the Canadian company that provided the service to the SXSW event.
A more basic version of this service was provided by the company to the Sochi, Russia Winter Olympics, as well as at the Summer Olympics in London in 2012. It started providing these services at the Winter Olympics in 2010 in its own home city.
Now that GIMBAL powered wireless services have successfully proven themselves through the trial at the SXSW, similar geolocation services will be available to iPhone and iPad users at the Tribeca Film Festival in New York, which will be held in April, as well as to the advertising awards show, Cannes Lion, in June in the South of France.
