LBS Market in the APAC 2016-2020 - Lack of Reliability & Accuracy of Data a Key Challenge

DUBLIN–Research and Markets has announced the addition of the “LBS Market in the APAC 2016-2020” report to their offering.

The report forecasts the LBS market in APAC to grow at a CAGR of 28.86% during the period 2016-2020.

The market is divided into the following segments based on usage:

Indoor LBS
Outdoor LBS

Big data analytics provides insights on 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 strategy.

According to the report, many consumers use location-based applications to obtain bus and subway train schedules and find taxis. Location-based apps also provide information about the nearest available doctors, clinics, and hospitals. The increased usage of location-based apps among consumers will drive the LBS market in APAC.

Further, the report states that consumers using LBS expect reliable and accurate real-time information. However, providing accurate information is a challenging task.

Key vendors: