This market research study presents a detailed segmentation of the LBS Market in the US by technology (outdoor LBS, indoor LBS) and by applications (location-based games and augmented reality, analytics, emergency support and disaster management, location-based navigation, location-based tracking, location-based search and advertising, and others). The leading vendors identified in the market are Apple, Foursquare, HERE, Micello, and Telenav.
Technavio’s market research analysts estimate the LBS market in the US, to grow at a CAGR of 30% between 2016 and 2020. Increase in the use of indoor LBS solutions in the retail sector is expected to propel the growth of LBS market during eth forecast period. Indoor LBS analytics helps retailers track the buying patterns of the customers and offer specific discounts or coupons accordingly. Moreover, the marketers can advertise easily, quickly, and efficiently using LBS solutions compared to digital techniques.
The new market research report from Technavio provides a breakdown and analysis of the LBS segments by technology.
“Of late, several smartphone manufacturers are collaborating with LBS providers to develop applications that integrate location-enabled search with social networking sites. Additionally, LBS service providers like GeoSolutions Holdings and Pelago offer location-based mobile social networking services that let users share their real-life experiences using geo-tagged, user-generated multimedia content. Moreover, the integration of location-based search with social networking websites helps local advertisers to target potential customers easily,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research
The outdoor LBS segment dominates the US’ LBS market and is anticipated to reach more than USD 12 billion by 2020. 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 key vendors in the LBS market in the US include Apple, Foursquare, HERE, Micello, and Telenav. This market is highly competitive and consists of stakeholders like location providers, location technology developers, digital map providers, navigation providers, proximity marketing providers, among others. This market has high growth potential owing to the presence of many start-ups that offer innovative solutions.
A more detailed analysis is available in the Technavio report, LBS Market in the US 2016-2020.
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