DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/h58jv3/lbs_market_in_the) has announced the addition of the "LBS Market in the APAC Region 2015-2019" report to their offering.
The analysts forecast the LBS Market in APAC to grow at a CAGR of 33.2% over the period 2014-2019
One of the emerging trends in the market is the increased adoption of location-based search and advertising. Advertisers use the location of a smartphone user to send targeted advertising campaigns. LBA is a more focused and efficient marketing tool for advertisers, providing an additional revenue source for LBS vendors. The mobile operators use LBA to offer free advertisement-funded navigation that helps them to both promote LBS and increase their profitability.
According to the report, one key factor driving the market growth is increased adoption of location-enabled devices in the APAC region. The popularity of LBS and demand for GPS-enabled handsets have increased significantly in densely populated APAC region countries such as India and China.
Further, the report states that user privacy poses a major challenge to this market. Information about the consumer's location is shared among players in the LBS value chain. While using LBS, consumers knowingly or unknowingly allow companies to create a profile about their personal life. Companies then share the users' information and send them advertisements, deals, and coupons even if they do not want them.
On the basis of usage, the market is segmented into two categories:
- Indoor LBS
- Outdoor LBS
On the basis of outdoor LBS services, the market is segmented into four categories:
- Location-based Search and Advertising
- Location-based Tracking
- Location-based Navigation
- Location-based Infotainment and Analytics
On the basis of users, the market is segmented into three categories:
- Individual Consumers
- Government Organizations
- Jiepang API
For more information visit http://www.researchandmarkets.com/research/h58jv3/lbs_market_in_the