- The LBS Market in North America is expected to grow at a CAGR of 27.05 percent during the forecast period of 2013-2018.
London, 20 August 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Location-based Services (LBS) Market in North Americas 2014-2018. The LBS market in North America is driven by the high adoption and penetration of location-enabled smartphones and tablets. Location-enabled pull advertising is expected to witness rapid growth during the forecast period because of the growth in the development of location-enabled pull advertising platforms by the leading location-based advertising providers.
Rapid growth of the market is due to the increased adoption of location-enabled devices such as smartphones, tablets, and personal navigation devices. The growing popularity of LBS for applications such as location discovery, friend finder applications, location-based advertising, location-based shopping, location-based social networking, and location-enabled search is enhancing the adoption of location-based applications and devices.
“Most of the handset manufacturers and location-based service providers are developing applications that integrate location-enabled search with social networking sites,” says Faisal Ghaus, Vice President of TechNavio Research.
“This helps users post updates in their social networking sites along with their exact location. The integration of location-based search with social networking sites is helping local advertisers to target potential users very easily.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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