Integration with Social Networking Websites Will Aid the LBS Market in Africa to Grow at a CAGR of Over 49% from 2016-2020, Reports Technavio

LONDON--()--Technavio analysts forecast the LBS market in Africa to grow at a CAGR of over 49% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the LBS market in Africa for 2016-2020. To calculate the market size, the report considers revenue generated from the annual sales of the following:

  • LBS applications, software, and digital maps
  • LBS map, mobile LBS, and LBS solution segments

Technavio ICT analysts highlight the following four factors that are contributing to the growth of the LBS market in Africa:

  • Rise in demand for personal and enterprise navigation services
  • Indoor LBS applications for public safety and emergency support
  • Integration of location-based search with social networking websites
  • Rapid adoption of beacon technology

Rise in demand for personal and enterprise navigation services

The demand for personal and enterprise navigation services has surged dynamically over a period of time. This, in turn, has led to the growth of the LBS market globally. Navigation services include real-time navigation, LBA, and payment. These services generate revenue primarily through fees for map updates, advertisements that lead to purchases, and other fees (toll or parking fees).

According to Rakesh Kumar Panda, a lead analyst at Technavio for research on M2M and connected devices, “The high availability and declining costs of smartphones are facilitating the adoption of workforce management services, which improve operational efficiency for businesses. Logistics companies such as MDS Logistics can track the movement of goods across the country using real-time sensors. LBS also include voice-enabled in-car and pedestrian navigation services, which contribute to the market revenue considerably.”

Indoor LBS applications for public safety and emergency support

Indoor LBS is reinventing mobile advertising, app development, and the mobile ecosystem. Indoor navigation is the primary application of indoor LBS. Location sharing enables users to identify contacts and connect with friends either virtually or in person.

Public safety includes the use of location information for emergency response, as well as the protection of individuals and assets. Indoor LBS locates and tracks emergency callers and public safety officers. In addition, LBS enable monitoring of areas sensitive to law and order disruptions through virtual geo-fence technology.

Integration of location-based search with social networking websites

“The use of social networking sites such as Facebook, Twitter, and Flickr on mobile platforms is increasing rapidly worldwide. Simultaneously, the use of LBS applications on smartphones is also witnessing a significant growth. Therefore, most handset manufacturers and LBS providers are developing applications that integrate location-enabled search with social networking sites. This integration helps users post updates on social networking platforms with exact location information,” says Rakesh.

LBS providers such as GeoSolutions Holdings, Pelago, and Loopt offer location-based mobile social networking services, allowing users to share real-life experiences using geo-tagged, user-generated multimedia content. Also, users can reach advertisers on their social networking sites based on their location. In addition, the integration of location-based search with social networking websites helps local advertisers target potential users easily.

Rapid adoption of beacon technology

Business marketers need to improve their marketing strategies, with respect to advances in technology, in order to reach the target audience with relevant advertisements and content. Beacon-triggered marketing enables marketers to send relevant information to people.

Beacons are low-cost devices that are attached to store shelves to ensure effective communication with customer smartphones. They enhance indoor maps, payments services, and other location-sensitive product catalogs. Beacon-triggered marketing, an accurate model of proximity marketing, uses Bluetooth signals from the beacons in stores. Since beacons are inexpensive and easy to deploy, their adoption rate has increased significantly. A typical beacon costs USD 20 to USD 40. Other expenses incurred are related to the time and resources required for content creation.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the LBS market in Africa to grow at a CAGR of over 49% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com