DUBLIN, June 24, 2015 /PRNewswire/ --
Research and Markets(http://www.researchandmarkets.com/research/t6825f/global_lbs_market) has announced the addition of the "Global LBS Market 2015-2019" report to their offering.
The analysts forecast the global location-based services market to grow at a CAGR of 37.68% over the period 2014-2019
LBS use location-enabled devices to track the location of users within the range of a wireless network. This is done with the help of GIS and the Internet. Location-enabled mobile devices such as smartphones, tablets, PNDs; and location-enabled in-dash devices can search for places and routes; obtain traffic updates and real-time directions; provide information on current local events; find friends; assist in location-based advertising and shopping; enable location-based social networking and searches; and provide location-based entertainment and infotainment.
LBS are used to determine the visitor pattern. The feature of check-ins allows the companies to ascertain where their consumers go on a regular basis and if they go to the respective stores after receiving ads in their smartphones. Based on this concept, in 2014 Google introduced a feature called Visit Monitoring. This feature collects information about common places visited by the user in day-to-day life. In addition, developers are providing a feature that can recommend places and points of interest to the users depending on their frequently visited places.
According to the report, social media are gaining popularity because of the advances in LBS. Social media platforms such as Facebook, Foursquare, and Twitter allow users to check in to a location and find out about that place. This feature is becoming popular among users because of various discounts offered by checking in at locations. For instance, Starbucks offers discount coupons to Foursquare users if they pass by a store. In addition, other apps such as Google Maps and Yelp apps have made it easier for tourists to find and access a location. LBS are becoming important in an individual's life, and companies are undertaking R&D to come up with innovations in LBS and location-based media.
Further, the report states that user privacy is a major challenge for this market and it has a severe impact on the usage pattern of LBS.
The global location-based services market can be segmented into:
- Location-based search and advertisement
- Location-based tracking
- Location-based navigation
- Location-based infotainment
- Telecommunications system
Key Topics Covered:
- Executive Summary
- List of Abbreviations
- Scope of the Report
- Market Research Methodology
- Market Landscape
- Market Segmentation by Usage
- Market Segmentation by Service Category
- Global Digital Map Market and its Impact on LBS
- Market Size and Forecast 51
- Geographical Segmentation
- Buying Criteria
- Market Growth Drivers
- Drivers and their Impact
- Market Challenges
- Impact of Drivers and Challenges
- Market Trends
- Trends and their Impact
- Vendor Landscape
- Key Vendor Analysis
For more information visit http://www.researchandmarkets.com/research/t6825f/global_lbs_market
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SOURCE Research and Markets