The location-based services market is segmented on the basis of component, technology, application, industry vertical, and region. Moreover, increase in demand for location-based services among e-commerce companies, food delivery & shopping apps, tourism websites, social networking apps, and others are expected to propel the growth of the location-based services market at a significant rate. Proactive government initiatives to standardize defense technologies coupled with rapid urbanization & infrastructural developments in the emerging economies are expected to foster the market growth in the government & defense sector. The adoption of LBS has increased across various verticals such as government & public utilities, media & entertainment, transportation, retail & e-commerce, healthcare, and others (education, BFSI, and healthcare). However, increased prices of real-time based LBS components and concerns associated with personal data security issues are some of the factors that hinder the growth of the location-based services market.
Moreover, rise in demand for active check-in apps and increase in use of business intelligence tools for fraud management & secure authentication further fuels the location-based services market growth. Upsurge in adoption of wireless devices such as tablets, smartphones, and handheld devices boosts the social networking platforms and provides new avenues for location-based marketing & advertising opportunities. In addition, LBS works by accessing real-time geo-data points from a smartphone device to gain information, entertainment, or security data for further processing. Location-based services are used to locate people, objects, and vehicle movements as well as for navigation, logistics, and inventory management. Location-Based Service (LBS) is an application used to identify location of a mobile or wireless device.
0 kommentar(er)
