AdNear, Alibaba Group Holding Ltd., and Facebook Inc. are three key vendors highlighted in a new Technavio report
LONDON—Technavio has published a new report on the global LBS market, which is expected to grow at a CAGR of almost 38% from 2015-2019.
“LBS are used to determine the behavioural pattern of the consumers on a regular basis, and whether they go to the respective stores after receiving ads in their smartphones. In 2014, Google introduced a feature called visit monitoring, which gathers information about common places visited by the user daily”
Location-based services market segmentation including service category, usage, and geography
Technavio’s report analyses the solutions and products offered by market vendors and presents a comprehensive breakdown in terms of market segmentation for different service categories, including location-based services and applications (LBSA), location-based tracking, location-based navigation, location-based infotainment, location-based analytics, and location-based recreation and fitness.
Additionally, analysts have segmented market projections by key geography, including the US, the rest of North America, China, Western Europe, Latin America, India, the Middle East, Africa, and South East Asia.
“LBS are used to determine the behavioural pattern of the consumers on a regular basis, and whether they go to the respective stores after receiving ads in their smartphones. In 2014, Google introduced a feature called visit monitoring, which gathers information about common places visited by the user daily,” says Faisal Ghaus, Vice President of Technavio.
LBS: Market scope and calculation of market size
This report covers the present scenario and the growth prospects for the global LBS market from 2015-2019. To calculate the market size, the report considers revenue generated from indoor and outdoor LBS.
Industry analysis includes:
- Key Vendors:
- Alibaba Group Holding Ltd.
- Facebook Inc.
- Foursquare Labs Inc.
- TomTom NV.
- Yelp Inc.
- Market Growth Drivers:
- Increased adoption of location-based media and location-based content
- Use of location-based analytics in business intelligence
- Market Challenges:
- Privacy concerns among users
- Legal concerns
- Market Trends:
- Increased use of LBS to monitor consumer behavior
- Location-based alerts and other information
View the global LBS market report.
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