Global LBS Market to Register High Growth between 2017 and 2021

Renewable energy

The global LBS market is currently valued at around USD 24 billion and is expected to surpass USD 96 billion by 2021, says Technavio.

Technavio has announced its latest market research report on the global LBS market, under its machine-to-machine (M2M) and connected devices portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like libaba, Apple, Foursquare, Google, and HERE.

According to Abhishek Sharma, a lead analyst for machine-to-machine (M2M) and connected devices research at Technavio, “The demand for mobile computing devices devices among mobile users and business travelers, that have a higher need for portability and connectivity, is experiencing an upsurge. Consumers and business users are increasingly looking to connect multiple devices to high-speed Internet at a lower cost. The high penetration of the Internet and the need for high data rates is driving the adoption of faster telecommunication services.”

Enterprises are keen on mobile cloud computing for cost-cutting as it helps eliminate investments required for hardware storage and other physical infrastructure. This is driving the growth of advanced mobile technologies in business enterprises, which is likely to increase the deployment of enhanced mobile communication antenna networks across extensive coverage areas.

Click here to request a free sample of this report

LBS using LED fixtures

The use of LED fixtures for LBS is a cost-effective approach to indoor positioning as it eliminates the need for additional hardware infrastructure beyond the lights themselves. Indoor LBS using LED fixtures to provide directions to varied services in airports, museums, and retail shops. These services help people locate the required products or services quickly. They also help retailers offer customized incentives and sales offers to shoppers, which helps boost the volume of sales.

Growing popularity of proximity-based mobile advertising among enterprises

Proximity-based mobile marketing or advertising provides numerous opportunities for businesses and improves customer experience and engagement. Useful information about the nearest restaurants, shopping malls, bars, and lounges is delivered to people through the proximity marketing service depending on the user’s location. Proximity-based solutions not only send relevant offers and information to people but also help companies track data regarding people at different venues and locations. These solutions also help companies discover common traffic patterns to understand and analyze the buying behavior of consumers.  

This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.

A more detailed analysis is available in the Technavio report titled, ‘Global LBS Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.

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