2014-01-30 05:53:01 - Global Location Based Services (LBS) Market 2012-2016 - a new market research report on companiesandmarkets.com
The Global Location-based Service (LBS) market is to grow at a CAGR of 35.25 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing adoption of GPS-enabled devices. The Global LBS market has also been witnessing the increasing adoption of LBS across various industries. However, the increasing concern associated with personal data privacy could pose a challenge to the growth of this market.
One of the main trends witnessed in the Global LBS market is the increasing adoption of LBS across industries. Several industries are increasingly adopting LBS devices to enhance the efficiency of their supply chain operations. LBS applications are used to track logistics, vehicle movements, stocks (commodities at outdoor outlets), and
for inventory management. The Retail and Food & Beverages industries are the two major industries where LBS devices are increasingly used in SCM to reduce transportation costs. In addition, the increasing adoption of LBS in fleet management provides a competitive advantage for companies since it helps establish communication between drivers and fleet management operators. Thus, the increasing adoption of LBS across industries augurs well for the growth of the market during the forecast period.
One of the main factors driving the market is the increasing adoption of GPS-enabled devices. The adoption of GPS-enabled devices such as smartphones, tablets, PNDs, handhelds devices, wrist-worn devices, two-way radios, sports devices, and portable LBS devices has increased significantly over the past few years.
One of the main challenges is growing concerns over privacy. In order to be able to effectively use various LBS applications such as the friend finder application, location-based games, location-based coupons, location-based deals, and location-based advertisements, LBS users have to reveal their location to the respective network providers, advertisers, and other third parties.
The key vendors dominating this space include Foursquare Labs Inc., Garmin Ltd., Navteq Corp., Telecommunication System Inc., TeleNav Inc., and TomTom N.V.
The other vendors mentioned are AdMoove, AT&T Mobility, Autonavi, Bafang, Bharti Airtel Ltd., Broadcom Corp., ChalkBoard Pte Ltd., Digu.com, Foursquare Lab Inc., France Telecom SA, Google Inc., Guantu, Jiepang Api, Kaikai.com, Loopt Inc., MiTac International Corp., MTN Group Ltd., Naviinfo, PDAger Technology, Placecast, Poynt Corp., Proximus Mobility LLC, Qieke.com, Qualcom Inc., Qype GmbH, Rogers Wireless Inc., Scanbuy Inc., Shopkick Inc., Sifang, SiRF Technology Inc., Skyhook Wireless Inc., Taganode, Taptu Ltd., Telemap Ltd., Tiros Technology, Verizon Communication Inc., VLD, Vodafone Group plc, xAD Inc., and Xtify Inc..
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