Tuesday 5 December 2017

Rising Use Navigation Systems to Drive Location-based Services (LBS) Market

The global location-based services (LBS) market is expected to exhibit lucrative growth in future, according to a report on Radiant Insights, Inc. LBS is a solution or application that integrates information pertaining to geographic locations with several business processes and offers in-depth analysis of such information. The primary objective of LBS is to identify the location of a user. It consists of various applications including location-based search, advertising, navigation, analytics, tracking, augmented reality, and gaming.
In September 2017, Broadcom Limited, one of the leading manufacturers and global dealer of a wide range of digital and analog semiconductor connectivity solutions, announced the world’s first dual frequency GNSS receiver device called “BCM47755”.
This device is specially designed to enhance LBS applications for mobile devices such as tablets, cellular phones, and fitness wearable devices. It is equipped with advanced Global Navigation Satellite System (GNNS) and is capable of “centimeter accuracy” with low power consumption. This application is suitable for augmented reality and lane-level vehicle navigation.
Growing use of smartphones and increasing integration of location-based search with social networking apps may drive the location-based services market. Additionally, growing government efforts related to development of protective standardized defense technologies can boost the market through the forecast period (2017–2022).
However, limited consumer awareness, higher development cost of LBS, and privacy and security concerns regarding personal data can restrain market growth. Consumers fear that this kind of information might threaten their safety if fallen into the wrong hands.
By type of service, the market can be segmented into recognition, location, query, navigation, and event checking. Based on application, the market can be segmented into automotive, cloud, mobile phone, and others. Regionally, U.S. has been a prominent market due to technological advancements and presence of developed infrastructure. India and China are expected to show rapid growth owing to rising number of smartphone users.
Some of the leading companies operating in the market are Ericsson, Ekahau, TomTom International, DigitalGlobe, and Pitney Bowes.
Radiant Insights, Inc. provides a comprehensive review of market trends and estimates for global as well as major regional markets. It also provides insights on strategic activities of leading companies worldwide.
About Radiant Insights, Inc:Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Contact Details:Michelle Thoras
Corporate Sales Specialist, USA
Radiant Insights, Inc
Phone: 1-415-349-0054
Toll Free: 1-888-202-9519
Email: sales@radiantinsights.com
Web: http://www.radiantinsights.com
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