Global Location-Based Services (LBS) Market 2017-2021
About Location Based Services
Location-based services (LBS) are part of a software application that uses location data for IP-capable mobile devices to trace where the mobile device is located.
Technavio’s analysts forecast the global LBS market to grow at a CAGR of 39.77% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global LBS market for 2017-2021. To calculate the market size, the report considers the revenue generated from mobile computing devices, the revenue from in-dash location-based devices, and the revenue from the applications of personal navigation device in automobiles, and wearable location-enabled.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Location Based Services (LBS) Market 2017-2021
Technavio recognizes the following companies as the key players in the global LBS market: Alibaba Group, Apple, Foursquare, Google and HERE.
Other Prominent Vendors in the market are: Aisle411, Baidu, Dianping, Etisalat, Facebook, Intel, MazeMap, Micello, MTN Group, NavInfo, Near, Nearbuy, Polaris Wireless, Shopkick, Spirent Communications, Sprint, Telenav, Tencent, TomTom and Zain.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing popularity of proximity-based mobile advertising among enterprises. LBS enable retailers to offer a personalized shopping experience based on location data and behavioral insights. Proximity-based mobile marketing or advertising provides numerous opportunities for businesses and improves customer experience and engagement.”
According to the report, one driver in the market is increased number of mobile computing devices. Consumers are increasingly using computing devices for multiple purposes like accessing social networking apps, reading the news, surfing the web, and checking e-mail. The expanding horizons of IoT is another reason for the market growth as a majority of the IoT devices are controlled by apps installed on mobile computing devices.
Further, the report states that one challenge in the market is privacy and security issues. People need to reveal their personal information to the advertisers and other third parties to receive coupons, deals, and promotions. This information is shared among players in the LBS value chain, which could lead to a leakage of information without the consent of the concerned people. Network providers also manage and own the databases in which the information is stored.
Alibaba Group, Apple, Foursquare, Google, HERE, Aisle411, Baidu, Dianping, Etisalat, Facebook, Intel, MazeMap, Micello, MTN Group, NavInfo, Near, Nearbuy, Polaris Wireless, Shopkick, Spirent Communications, Sprint, Telenav, Tencent, TomTom and Zain.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook