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
Retailers are delivering navigation and product details to assist the customer for better purchase decisions. The retail industry constitutes approximately 60% of the overall market.
Segmentation of indoor LBS market in SEA by product
Location and alerts
Location-based advertising services
Secure transactions and redemptions
Analytics and insights
Competitive landscape and key vendors
The indoor LBS market includes many stakeholders such as application developers, map providers, data providers, platform providers, location-aware application, and media providers. The development of innovative LBS solutions such as the use of LED fixtures automatically increases customer demand. Hence, many businesses across industries are deploying indoor LBS leading to increased competition.
The key vendors in the market are-
Other prominent vendors in the market include Cartogram, Foursquare, IndoorAtlas, Insiteo, Micello, Near (AdNear) , Qualcomm IZat, and Shopkick.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the indoor LBS market in SEA?
What are the key market trends impacting the growth of the indoor LBS market in SEA?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the vendors in the indoor LBS market in SEA?
What are the key outcomes of the five forces analysis of the indoor LBS market in SEA?
Indoor LBS Market in the US 2014-2018
Indoor LBS Market in Western Europe 2015-2019
Global Indoor LBS Market 2015-2019
Enterprise Indoor LBS Market in the US 2014-2018
Mobile Indoor LBS Market in North America 2014-2018
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