London, 22 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the LBS market in India 2015-2019, which is expected to grow at a high CAGR of 58.61% during the forecast period of 2014-2019.
The LBS market in India is expected to witness significant growth during the forecast period because of the migration of mobile users from voice-based to data-based mobile usage. Moreover, various automobile manufacturing companies are using the navigation features as their marketing communication strategy to enhance sales, which is ultimately expected to enhance the adoption of LBS devices during the forecast period.
“With improved technology within reach of consumers at affordable prices, LBS developers are witnessing a surge in demand for better UI applications,” says Faisal Ghaus, Vice President of Technavio.
‘The Indian LBS market has a very high potential for growth by virtue of its size. With the increasing number of smartphones and tablets, and the introduction of wearable tech such as the Apple Watch, the user experience will be critical, more than ever.”
Key Market Drivers
- Increased Adoption of Mobile Internet
- Increased Usage of LBS by National Security Agencies
- Increased Implementation of LBS across Industries
- Cost Benefit to Enterprises
- Increase in LBS-centered Start-Ups
Key Market Trends
- LBS-induced Social Networking
- Demand for Improved User Interface
- Increased Adoption of Location-based Search and Advertising
- Increasing Popularity of LBS
- Increase in Mobile Gaming among Users
Key Market Vendors
- AdNear Pte Ltd.
- CanvasM Technologies Ltd.
- Garmin International
- MapmyIndia
- Polaris Wireless
- Telenity Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
