Northbrook, IL -- (SBWire) -- 09/11/2018 --The proximity marketing market is an emerging one with the presence of many players. The proximity marketing market is expected to be worth USD 52.46 Billion by 2022, growing at a CAGR of 29.8% between 2016 and 2022.
APAC and North America are the major regions that are expected to witness growth in this market.
Players such as Apple Inc. (U.S.), Google Inc. (U.S.), Microsoft Corporation (U.S.), Qualcomm Inc. (U.S.), and Zebra Technologies Corporation (U.S.) dominated the proximity marketing market in 2015.
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Currently, North America is the leading market for proximity marketing; however, the APAC market is expected to register the highest growth rate between 2016 and 2022. The boom in the retail sector, significant investment by big players, and use of improved technology together contribute to the growth of the proximity marketing market in APAC.
Apple Inc. (U.S.) and Google Inc. (U.S.) are the two major players in the proximity marketing market.
Apple Inc. (U.S.) was ranked first in the proximity marketing market in 2015. It is constantly involved in innovating hardware, software, and services to offer the best user experience to its customers throughout the world. With its ever-increasing customer base, the company has immensely benefitted from the positive reception at every new product/service launch or upgrade.
The company implemented context-aware computing features into its devices such as iPhone and Mac for upgrading contextual features. Moreover, the company has been investing significantly in R&D, advertising, and marketing. For instance, it invested USD 8.07 billion on R&D in 2015. The acquisitions and partnerships by Apple have helped it to enhance its future technological developments and expand worldwide.
For instance, in May 2016 Apple and SAP (Germany) entered into a partnership to transform the mobile work experience with the cutting-edge capabilities of the SAP HANA platform for all enterprise customers. This partnership combines powerful native apps for iPhone and iPad, where they can build iOS apps according to their business needs. In August 2015, Apple and Cisco Systems, Inc. (U.S.) entered into partnership to enhance Cisco networks for iOS devices and apps.
Google Inc. (U.S.) was ranked second in the proximity marketing market in 2015. The company recently launched Google Proximity Beacon API which includes Eddystone and Nearby API which is expected to enhance its share in the proximity marketing market.
Google identifies suitable opportunities for growth through acquisitions and investments. These are planned out by the Corporate Development team in such a way that all its operations are sustainable, by applying innovative technologies and business practices. Google aims to strengthen its portfolio by investing more in R&D. It invested 16.4% of its total revenue in 2015 on R&D compared to 12.9% in 2013.
The company is also expected to increase its workforce to build new systems and products and improve the existing services. The company fosters a strong brand image by maintaining users trust and following high product quality standards, ensuring that Googles users are protected from web abuse and fraud across Google products.
For instance, in July 2015, Google launched Proximity Beacon API, a part of the Bluetooth Low Energy (BLE) beacon platform, which also includes Eddystone, an open beacon format from Google. In addition, Google also launched Nearby API which detects nearby devices including beacons or other phones. The apps can easily share contacts, links, and other information with the phone that is nearby and execute other proximity-based tasks.
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Market for Proximity Marketing: North America Expected to Hold the Largest Market Share, While APAC Would Witness the Highest Growth Rate
Market for Proximity Marketing worth 52.46 Billion USD by 2022.