This market research report by Technavio presents a detailed segmentation of the LBS market in GCC by usage (indoor LBS and outdoor LBS). The major vendors analyzed in this market research are Etisalat, Google, HERE, Nearbuy, TomTom, and Zain.
Technavio’s market research analysts estimate the indoor LBS market in GCC, to be a billion dollar industry by 2020. Location-based tracking, advertising, and analytics are the emerging applications of LBS in the region. Increasing sales of smartphones and the popularity of location-based applications such as navigation and tracking have boosted the demand for LBS in GCC. Large number of satellites are being launched in the region, which improve the accuracy and reliability of LBS as they operate on real-time data.
The new market research report from Technavio provides a breakdown and analysis of the LBS segments by technology.
“Of late, many SMEs use location information of consumers to provide targeted advertisements to consumers inside or outside malls and airports. This helps consumers to avail attractive offers and discounts while they visit the stores of competitors. The ability of LBS to bolster the sale of products by providing targeted advertisements to consumers will result in this market’s rapid growth during the forecast period,” says Rakesh Panda, Lead Analyst, ICT, Technavio Research.
The indoor LBS segment will be the largest market segment during the forecast period and will grow at a profound CAGR of around 52% by 2020. The augmented utilization of LBS in indoor locations, such as shopping malls, airports, auditoriums, convention centers, and hospitals, will result in this segment’s strong growth during the forecast period.
LBS market segmentation by usage in the GCC 2015-2020 ($ millions)
Source: Technavio, 2016
The leading vendors in the indoor LBS market in GCC are Etisalat, Google, HERE, Nearbuy, TomTom, and Zain. This is an emerging market 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. The prospects for growth in this market are rapidly increasing as many players are entering this market with innovative solutions.
A more detailed analysis is available in the Technavio report, Indoor LBS Market in GCC 2016-2020.
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