LBS: Key market research findings
- Rise in demand for location-based games
- Growing popularity of outdoor LBS
Technavio has released a new market research report on the LBS market in China, which is expected to generate revenues of $12 billion between 2016 and 2020. The use of mobile-based activities related to banking, gaming, online shopping, and LBS, and social networking are extremely popular in China. The proliferation of smartphones among the broad customer base has boosted the LBS market in China. The most popular LBS in China are targeted and customized advertising.
The new industry research report from Technavio discusses in detail the key drivers and trends responsible for the growth of this market and its sub-segments.
“Currently, the market is witnessing augmented demand for location-based games. The easy availability of affordable smartphones has led to the growing popularity of location-based games such as Ingress and Tourality. Owing to the growing popularity of location-based games, many businesses and LBS app developers are focusing on gaming as an important sales channel. Therefore, the integration of location-based services with mobile games will impel the prospects for growth in this market until the end of 2020,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research
Outdoor LBS is more popular and used service in China as compared to indoor LBS. Outdoor LBS has extensive applications in city planning as they help in the intelligent design of city infrastructure using population density heat maps. These maps enable public transport managers plan and update routes to match the actual and future needs of the commuters. With growing smart city planning activities, outdoor LBS also provide monitored solutions to improve energy efficiency, thereby propelling this market segment’s growth over the forecast period.
The leading vendors in the LBS market in China include Alibaba Group, Baidu, Dianping, Navinfo, and Tencent. The market is highly competitive owing to the presence of several SMEs and established companies. This market has high growth potential as many big enterprises have launched applications that offer innovative retailing solutions.
A more detailed analysis is available in the Technavio report, LBS Market in China 2016-2020
We can customize reports by other regions and specific segments upon request.
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