London, 07 August 2014: TechNavio, the independent tech-focused global research firm, has published a report on the Location-based Services Market in India 2014-2018, which is expected to grow at a high CAGR of 52.79 percent during the forecast period of 2013-2018.
LBS are used to track the location of users within a wireless network using location-enabled mobile devices through Geographic Information System technology and internet. It is used for discovering places and routes, tracking, obtaining traffic updates and real-time directions, routes to landmarks, information regarding ongoing local events, finding friends, location-based advertising, location-based shopping, location-based social networking, and location-enabled searches and is also used for location-based entertainment and infotainment.
Key Market Drivers
- Increased Penetration of GPS-enabled Smart Devices
- Increased Adoption of Mobile Internet
- Improvement in Navigation Technology and Satellites Launched
- Availability of Improved GIS Devices
- Rapid Advances in Technology
Key Market Trends
- Increased Adoption of Location-based Search and Advertising
- Growth in Popularity of LBS among Young People
- Increased Partnerships among Multiple LBS Stakeholders
- Increased Usage of LBS in M-Agriculture
- Increased Usage of LBS by Government and Security Agencies
“The LBS market in India is growing at a rapid pace with the implementation of upcoming technologies. LBS users require accuracy, privacy, and good network connectivity while using LBS applications. In order to provide LBS services, the network requires the installation of hardware devices,” says Faisal Ghaus, Vice President of TechNavio.
To define the market circumstances 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.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
