LONDON – The LBS Market in the APAC Region is expected to grow at a CAGR of 33.20 percent from 2015-2019, thanks to increased adoption of location-enabled devices in this area, says research firm TechNavio.
“Coffee chain Café Coffee Day uses LBA to drive traffic to their outlets. Baidu also launched a service in China that helps retailers push their ads to nearby users.”
The popularity of location based services (LBS) and demand for GPS-enabled handsets has increased significantly in different APAC countries like India and China.
“Sales of smartphones have increased drastically in India, with this number reaching 44 million in 2013,” says Faisal Ghaus, Vice President of TechNavio.
According to the latest report by TechNavio, location based advertising (LBA) is one of the fastest growing market segments for LBS in the APAC region. LBA is a more focused and efficient marketing tool for advertisers, which provides an additional revenue source for LBS vendors. Mobile operators use LBA to offer free advertisement-funded navigation that helps them promote LBS and increase their profitability.
“The LBA Market in India is growing 65 percent every year, and many new players like AdNear, dealchat.com, Nimbuzz and Zomato Media are entering this market,” says Ghaus.
“Coffee chain Café Coffee Day uses LBA to drive traffic to their outlets. Baidu also launched a service in China that helps retailers push their ads to nearby users.”
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
About TechNavio
TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. 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.
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