Indoor LBS Market in SEA 2016-2020
Market outlook of indoor LBS market in SEA
Technavio’s market research analyst predicts the indoor LBS market in SEA to grow at a CAGR of around 90% during the forecast period. Proximity-based mobile marketing and advertising is the primary growth driver for this market. Proximity-based solutions provide not only relevant offers and information to customers but also help companies to track data regarding people at different venues and locations, and discover common traffic patterns to understand and analyze consumer buying behavior.
The rising popularity of smartphones is anticipated to drive the market growth during the forecast period. Also, due to mobile Internet that provides real-time information and context aware services by leveraging cloud technology, highly personalized location services have been provided to retailers. These solutions help to maintain high customer engagement increasing retailer sales.
Segmentation of indoor LBS market in SEA by industry
Technavio Announces the Publication of its Research Report – Indoor LBS Market in SEA 2016-2020
Technavio recognizes the following companies as the key players in the Indoor LBS Market in SEA: HERE, Sprooki, Ruckus Wireless, Yoose and Google
Other Prominent Vendors in the market are: Cartogram, Foursquare, IndoorAtlas, Insiteo, Micello, Near (AdNear) , Qualcomm IZat, and Shopkick.
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 the accelerometer that is found in smartphones and provides a 3D navigation system. This navigation technology does not require any infrastructure to avail the service. Recently, in 2014, Google announced its 3D sensors project, Project Tango. Although the project does not have any infrastructure, it allows 3D scanning for computer vision, and navigation and mapping.”
According to the report, big data analytics provides enriching insights into consumer buying patterns so that retailers can increase sales volume and enhance customer search experiences. With indoor location-based technology, store owners can retrieve a shopper’s search information and offer unique incentives to bring a strong value-added component in their digital and CRM strategies.
Further, the report states that infrastructure constraints have become one of the major challenges for indoor LBS
HERE, Sprooki, Ruckus Wireless, Yoose, Google, Cartogram, Foursquare, IndoorAtlas, Insiteo, Micello, Near (AdNear) , Qualcomm IZat, Shopkick.