Location based services can be defined as an information service provided by a device that knows where it is, and modifies the information it provides accordingly. Location data is a vital part of the mobile experience and enables some of the most widely used mobile apps, which can be used for geo-social networking, navigation and travel, retail and real estate searches, and mobile marketing and advertising. With the increase in the number of smart phone users, location-based technologies are emerging at faster pace, and hence, diversifying its business providing ubiquitous applications on location base data.
This report encompasses a detailed overview of the overall Location based services market with a qualitative viewpoint at every phase of segmentation. The global LBS market is broadly classified on the basis of technologies, services provided, applications, end users, regions, and target audience. The technologies under LBS market constitute cell ID, E-OTD, A-GPS, E-GPS, and hybrid technology. Among the various technologies, hybrid technology is emerging and is expected to grow tremendously in the near future. The sub segments of applications include mapping, infotainment and discovery, business intelligence and analytics, emergency support and disaster management, leisure and social networking, location-based advertising, games and augmented reality, and tracking.
The major industry verticals where Location based services are deployed include healthcare, transportation and logistics, hospitality, government, advertising, and retail. The governments across the globe are taking initiatives and investing hefty capital to promote the growth of this market. The retail, and food and beverages industries are the two major industries where LBS devices are increasingly being used in SCM to reduce the transportation costs. The Location based services market is segmented into five major regions, namely NA, Europe, APAC, LA, and MEA.
MarketsandMarkets expects that the increase in the number of Smartphone users will lead to further comprehensive smart alerts related to LBS. Though the adoption of these solutions was initially gradual, due to concerns about privacy, cost, government regulations, but these services are witnessing wide acceptance across various verticals.
The market research report categorizes the global Location based services market on the basis of products, services, technologies, applications, verticals, and regions. It also forecasts volumes, revenues, and analyzes trends in each of the submarkets.