Proximity as a Service: Introduction
- Proximity as a service is a model that distributes hyper-local data by using location-based wireless technology to distribute highly personalized advertising content to mobile subscribers at specific locations.
- Proximity as a service model uses technology such as Wi-Fi, Bluetooth, NFC, and GPS to deliver highly personalized hyper-local data to specific locations.
- This service model can be used in various applications including distributing data in smart city projects, delivering commercial information in malls, sharing news feeds for campuses and office centers, as well as city games and personal classifieds, among others.
- The global proximity as a service market is expected to expand at a rapid pace over the forecast period, due to advancement in technologies, growing digitalization, and rapidly increasing use of proximity marketing in the field of advertising and information across various sectors.
Global Proximity as a Service Market: Dynamics
Global Proximity as a Service Market: Key Drivers
- Growing adoption of smartphones and proximity technology, rising market competitiveness, and increased focus on business intelligence are the prime factors boosting the growth of the proximity as a service market.
- Increase in adoption of proximity marketing by marketers due to the perfect way it targets the desired audience is expected to drive the growth of the market in the coming years.
- Moreover, the rising need for better customer services & response, increasing use of BLE beacons based proximity marketing, and technological advancements in location-based services further fuels market demand.
- Proximity marketing builds automated fundamental marketing strategies and also reduces economic pressure, thereby propelling the demand for proximity as a service across the globe.
- A rise in adoption of smart technologies, and the advent of 5G and distributed applications are also anticipated to boost the proximity as a service market during the forecast period.
- Concerns regarding security & privacy, lack of expert workforce, and low awareness among end-users may hamper the growth of the market.
- The emergence and advancements in technologies are expected to provide ample growth opportunities to players in the proximity as a service market.
Impact of COVID-19 on the Global Proximity as a Service Market
- Increasing cases of COVID-19 across the globe is resulting in economic slowdown. Developed countries are strongly affected by the pandemic. Customers are spending less time in-stores, thereby it becomes critical for retailers and store owners to inform them of new product launches, offers, special discounts, etc. Thus, retailers are using proximity marketing to notify people of promotions, events, discounts, and other alerts. This, in turn, is projected to indirectly boost the global proximity as a service market during the COVID-19 pandemic.
North America to Hold a Major Share of the Global Proximity as a Service Market
- In terms of region, the global proximity as a service market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America dominated the global proximity as a service market in 2020. The U.S. is a key market in the region due to rising implementation of latest technologies, increase in smartphone penetration, and introduction of 5G network, which is expected to boost the proximity as a service market in North America.
- The market in Asia Pacific is projected to expand at a rapid pace during the forecast period. A rise in deployment and integration of consulting services is driving the demand for proximity solutions, which is boosting the proximity as a service market.
Global Proximity as a Service Market: Competition Landscape
Several local, regional, and global players are active in the proximity as a service market with a strong presence. Rapid technological advancements have created significant opportunities in the global proximity as a service market. Players are increasingly focusing on collaborations, mergers, and acquisition activities to provide better customer service and response in order to improve offerings and market reach.
Key players operating in the global proximity as a service market include:
- Apple Inc.
- Datamatics Global Services Limited
- Google Inc.
- HID Global
- Knorex, Inc.
- Microsoft Corporation
- Proxama PLC (Location Sciences Group PLC)
- Proximity Marketing
- Zebra Technologies
- Estimote Inc.
Global Proximity as a Service Market: Research Scope
Global Proximity as a Service Market, by Technology
- Near Field Communication (NFC)
Global Proximity as a Service Market, by Service Type
- Consulting Services
- Deployment & Integration Services
- Application Support & Maintenance Services
Global Proximity as a Service Market, by End-user
- Retail and e-commerce
Global Proximity as a Service Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.