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London, United Kingdom, 2013/09/11 - Key players in this market include - Foursquare Labs, Inc,. Garmin Ltd, Navteq Corp., Telecommunication Systems, Inc., Telenav, Inc., TomTom n.v. - TechNavio.com.
The Global Location Based Services (LBS) Market is up for a major breakthrough with a growth forecast of 35.25 percent for the period 2012-2016.
As per the latest research findings by the London based global research firm TechNavio, the markets in North America and South America have been generating more than 50 percent revenue followed closely by the APAC with 27.92 percent in 2012, in the LBS market.
Increasing adoption of GPS-enabled devices coupled with increasing consumerism and urbanization in APAC region has heightened the need for tracking and monitoring services in these markets. Further, a large number of mobile phone users and the proliferation of enabling technologies such as location-enabled Wi-Fi, and terrestrial network expansions have provided an environment for easy proliferation of these services.
The prolific growth of the LBS market has been witnessing increasing usage over the years. The government organizations are using this service for citizen safety purposes such as 9-1-1 and E-9-1-1. Similarly, individual customers are using it for their personal safety such as parents in collaboration with the schools using the LBS for their child's safety. Similarly, enterprises are using LBS for employee monitoring and safety.
Speaking on this occasion, one of the senior analyst and co-author of this report said,“The Enterprises segment dominating the Global LBS market, accounted for a major share of the market revenue in 2012 and will continue to do so till 2016. The free to use consumer LBS application business model ensures that consumers do not have to pay for the basic use of the LBS. In some cases, consumers have to pay for the additional content purchased. On the other hand, enterprise users get a large amount of revenue from the location-based advertisement from several SMEs and large enterprises.”
The Global LBS market is witnessing intense competition due to the presence of numerous vendors. Hence, vendors are focusing mainly on mergers and acquisitions to gain a competitive advantage. Moreover, several large companies across the globe are adopting this strategy to enter the market and acquiring small applications, maps, and content developers to play big in this market. The key players dominating this market Foursquare Labs Inc. Garmin Ltd. Navteq Corp., TeleCommunication Systems Inc. TeleNav Inc. and TomTom N.V.
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of drivers, challenges, and trends of this market featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in order of importance.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of the Global Location Based Services (LBS) Market. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information on this topic and our upcoming research on please send an e-mail to enquiry[at]TechNavio[dot]com
TechNavio (technavio.com) is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
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Founded in 2003, TechNavio has about 200 analysts globally. We cover more than 500 technologies across 80 countries. Our analysts are closely monitoring the market every day by talking to all the industry participants. We have proprietary databases that provide us with a complete perspective of the market. TechNavio develops over 2000 pieces of research deliverables every year.