This market research report presents a comprehensive segmentation of the LBS market in APAC by usage (indoor LBS and outdoor LBS) and by end users (enterprises, individual users, and government organizations). It also provides a detailed market share analysis of the leading companies in this market, including AutoNavi Holdings, Diaping, Google, HERE, MapmyIndia, NavInfo, Near, TeleNav, and TomTom.
Technavio’s market research analysts predict that the LBS market in the APAC is expected to cross over $15 billion in revenue by 2020. The increased availability of faster Internet connections, demand for smartphones, and rise in popularity of location-based apps are some of the factors fueling the growth of this market during the forecast period. At present, China dominates the LBS market in the APAC, with almost 1.5 billion mobile connections, due to the availability of smartphones at low market prices.
This new market research report from Technavio provides a breakdown and analysis of the LBS market segments by technology.
“Users can enjoy location-based gaming, and location-based tracking and navigation. The number of people installing LBS applications on their smartphones are increasing rapidly because of this very reason. The introduction of search and advertising, and analytics are also expected to contribute to the growth of the LBS market in the APAC during the forecast period,” saysRakesh Panda, Lead Analyst, ICT, Technavio Research.
Enterprises account for the major portion of this market’s revenue with a share of over 45%. This is due to the fact that LBS serves as a convenient and cost-effective medium to reach customers. Hence, numerous enterprises are using location-based advertising to send targeted advertisements and promotional offers to potential and existing consumers. This segment of the LBS market in the APAC is projected to grow at a CAGR of almost 38% between 2016 and 2020. For instance, Sprooki (an LBS provider) has partnered with Skyfii (a guest Wi-Fi and data analytics platform provider) to offer mobile retail solutions to their customers.
The leading vendors in the LBS market in the APAC include AutoNavi Holdings, Diaping, Google, HERE, MapmyIndia, NavInfo, Near, TeleNav, and TomTom. This market is highly competitive and consists of various stakeholders like LBS device providers, map providers, location-based advertisers, platform providers, application developers, navigation providers, mobile operators, location-aware application and media providers, proximity marketing providers, location-based content providers, and mobile search providers. Since LBS applications are mainly popular among the youth, a large number of LBS providers are entering the market through M&A to tap this large customer base.
A more detailed analysis is available on the Technavio report, LBS Market in the APAC 2016-2020.
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