2014-02-12 05:38:01 - Location-based Service Market in North America 2012-2016 - a new market research report on companiesandmarkets.com
The North America Location-based Service market is to grow at a CAGR of 24.48 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing adoption of location-enabled smartphones and tablets. The market has also been witnessing an increasing use of location-based services across industries. However, increasing concern for data privacy could pose a challenge to the growth of this market.
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 inventory management. The Retail, and Food and 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 drivers in this market is the increasing adoption of location-enabled smartphones and tablets. In North America, the penetration of GPS-enabled smartphones is expected to increase substantially during the forecast period. This in turn is expected to drive the usage of mobile LBS solutions during the forecast period.
One of the major challenges in this market is the growing concerns over privacy. The data about a subscriber´s location is owned and controlled by the respective network operators, which include mobile carriers and mobile content providers. With operators being privy to such information, end-users are concerned about their privacy despite the presence of legal frameworks to safeguard it.
The key vendors dominating this space include Foursquare Labs Inc., Navteq Corp., TeleNav Inc., and TomTom NV. The other vendors mentioned in the report are AdMoove, AT&T Inc., Broadcom Corp., ChalkBoard Pte Ltd., Garmin Inc., Google Inc., Loopt Inc., Placecast, Poynt Corp., Qualcom Inc., Rogers Wireless Inc., SiRF Technology Inc., Skyhook Wireless Inc., TeleCommunication Systems Inc., Telemap Ltd., Telemax Corp., Texas Instrument Inc., and Verizon Communication Inc.
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