London, 10 November 2014 – With the adoption of GPS-enabled smartphones, the Global Consumer LBS Market is expected to grow at a CAGR of 37.38 percent from 2014-2018, says research firm TechNavio.
Heavy reliance on smartphones and internet connectivity, increased dependence on location-based services (LBS) and falling smartphone prices are acting as catalysts for the increased adoption of mobile LBS applications.
The latest report from TechNavio indicates that more organizations are relying on analytics to increase consumer engagement. Many advertising companies use big data analytics and information gleaned from LBS to understand consumer behavior. They extract all information pertaining to consumers, based on their movements on the internet and on social networking websites, and profile potential customers in order to push targeted advertising according to consumer profiles.
“Cisco provides new location-based analytics technology to retailers to gain a better understanding of the consumers’ shopping patterns and to deliver a compelling experience when they visit outlets,” says Faisal Ghaus, Vice President of TechNavio.
“McDonald’s is undertaking similar initiatives. With the introduction of the McCafé menu, the restaurant is using competitive location data to understand consumer behaviors related to morning versus afternoon visits to other cafes.”
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
https://www.technavio.com/%3Cp%3E%3Cstrong%3EAbout%20TechNavio%3C/strong%…
