Global Indoor LBS Market 2016-2020
About Location-Enabled Mobile
Location-enabled mobile devices include smartphones, tablets, and devices fitted in vehicles. The location of such devices is determined by a mechanism known as localization, which considers the user's browsing activities related to navigation, lifestyle, shopping, social networking, public transportation, utilities, and games. Indoor LBS provide information regarding ongoing local events, shopping, and entertainment with the support of mobile devices, and have become a key component of marketing strategies and monitoring systems.
Technavio’s analysts forecast the global indoor location-based services (LBS) market to grow at a CAGR of 43.44% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global indoor location-based services (LBS) market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of indoor LBS software, applications, and platforms.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Indoor Location-Based Services (LBS) Market 2016-2020
Technavio recognizes the following companies as the key players in the global indoor location-based services (LBS) market: Apple, Google, Micello, and Shopkick.
Other Prominent Vendors in the market are: Aisle411, Beaconinside, Bluepath, Cartogram, Comtech Telecommunications, DecaWave, Estimote, Gimbal, GiPStech, IndoorAtlas, Insiteo, Intel, MazeMap, Microsoft, Navizon, Nextome, Nimble Devices, Pinmicro, Pointr Labs, Qualcomm Technologies, Quantitec, Ruckus Wireless, Social Retail, Spreo Indoor Location Services, Sprooki, Thumbvista, and Yoose.
Commenting on the report, an analyst from Technavio’s team said: “One of the recent trends in indoor LBS is 3D navigation using motion sensors. The technology gathers data from inertial sensors such as accelerometers that are found in smartphones and provides a 3D navigation system. This navigation technology does not require any infrastructure. In 2014, Google announced its 3D sensors project, Project Tango. It allows 3D scanning for computer vision and navigation and mapping.”
According to the report, increased adoption of LANs will be a key driver for market growth. The number of deployments of local area networks (LANs) and home area networks such as Wi-Fi and WLAN has been increasing globally. This is because of the availability of high-speed mobile broadband networks and decreasing deployment costs. In addition, most of the business organizations and university campuses are adopting virtual private networks (VPNs) for their data security and providing a seamless connection to their employees and students. The adoption of VPNs by business organizations and universities enables them to provide indoor LBS on their premises. Further, most of the airport authorities in regions such as the US and Singapore are using indoor LBS to track and monitor assets used in the airport. In addition, airport authorities use indoor LBS to offer location search, advertising, providing updates on flight position and scheduled flights, and airport floor layout tracking, thereby helping them to offer better customer service.
Further, the report states that low user acceptance due to privacy and security concerns is one of the major challenges for the indoor LBS market. Since most LBS suites are hosted on open platforms to make computing simple, the security of user data is a serious concern. To receive coupons, deals, and promotions, people need to reveal their personal information to the advertisers and other third parties. This information is shared among players in the LBS value chain, and this could lead to information leakage without the consent of the concerned people. Also, a network provider manages and owns the database in which the information is stored. The provider, therefore, has access to the information. In addition, while using LBS, people have to give details such as the places they visit, the events they attend, and the people they meet. Such information can be obtained illegally and misused as well. Therefore, many people are apprehensive about sharing their information with LBS providers.
Apple, Google, Micello, Shopkick, Aisle411, Beaconinside, Bluepath, Cartogram, Comtech Telecommunications, DecaWave, Estimote, Gimbal, GiPStech, IndoorAtlas, Insiteo, Intel, MazeMap, Microsoft, Navizon, Nextome, Nimble Devices, Pinmicro, Pointr Labs, Qualcomm Technologies, Quantitec, Ruckus Wireless, Social Retail, Spreo Indoor Location Services, Sprooki, Thumbvista, Yoose.
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