This market research report outlines the market analysis and segmentation of the location-based services (LBS) market in Southeast Asia by end-users (enterprises, individual consumers, and government organizations). It also outlines the market shares of key regions such as Indonesia, Malaysia, Singapore, Thailand, Philippines, and other Southeast Asian countries. The key vendors analyzed in the report are Foursquare, Google, HERE, Maxis, Near, SingTel, and TomTom.
Technavio has released updated information on the LBS market, with the publication of its new market research report, LBS market in SEA. The LBS market in SEA is expected to generate revenues of $1.5 billion between 2016 and 2020. Much of is market’s growth can be attributed to an increase in the sales of smartphones and the subsequent popularity of location-based apps among consumers. Indonesia is the major revenue-generating nation in the South Asian region, thanks to the increasing penetration of 4G services in the country.
“Organizations are looking forward to increase their consumer engagement through analytics. They are integrating LBS information with big data analytics to analyse the procuring decisions of consumers. For instance, analytics companies extract information about consumers based on their activity on social networking sites, track their location, and send contextual promotions to them. Also, by using analytics, retailers cite relevant data based on a consumer’s Internet browsing records and social networking profile, and push advertisements tailored to his/her needs,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.
One of the major drivers contributing to the growth of the LBS market is the rapid adoption of smart devices. Consumers in countries such as Singapore, Philippines, Vietnam, Indonesia, Thailand, and Cambodia are gadget-lovers. Hence, the demand of smartphones in these regions are very high. Therefore, the high penetration of smartphones with increasing activity around mobile LBS and location-enhanced marketing is propelling the LBS market growth.
The leading vendors in the LBS market in SEA include Foursquare, Google, HERE, Maxis, Near, SingTel, and TomTom. This highly competitive and fragmented with the presence of large international and regional players. The intense competition among the vendors has resulted in an increased number of mergers, with smaller entities being acquired by or being merged with major players. Also, a large number of venture capitalists are also funding LBS value chain providers.
A more detailed analysis is available in the Technavio report, LBS Market in SEA 2016-2020.
We can customize this reports by other regions and specific segments upon request.
Other related reports:
- Global LBS Market 2015-2019
- LBS Market in China 2015-2019
- Indoor LBS Market in Western Europe 2015-2019
- Mobile LBS Market in Southeast Asia 2015-2019
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