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New report shares details about the enterprise LBS global market to grow at a CAGR of more than 23% from 2016 to 2020

The rising adoption of real-time location systems (RTLS) tags in hospitals is a critical factor that will impel the prospects for growth in this market until the end of 2020. In the healthcare sector, a large number of hospitals are deploying RTLS tags to enhance operations and increase profitability. These tags help in the location of hospital equipment like hospital beds, wheelchairs, ventilators, oxygen cylinders, and infusion pumps, and are also used to monitor sensitive equipment, patients, and hospital staff, including doctors and nurses.

This global market research presents a detailed analysis of the key drivers, challenges, and upcoming trends that influence market growth. IT also segments the global enterprise LBS market by application (location-based search and advertising, location-based navigation, location-based infotainment and analytics, location-based tracking, and other LBS) and by geography (Americas, APAC, and EMEA).

The leading vendors analyzed are AeroScout, Apple, Foursquare, Groupon, Google, HERE, and xAD.

Outlook of the global enterprise LBS market

A location-based service, or LBS, helps to track the location of users within a wireless network by utilizing location-enabled mobile devices like smartphones, tablets, personal navigation devices (PND), and certain in-dash devices fitted in vehicles. The global market for enterprise LBS is anticipated to grow at a significant rate during the forecast period and will be positively affected by the growing popularity of location-based search and advertisement among small, medium, and large enterprises in the retail sector.

Furthermore, factors such as the rising utilization of big data analytics for understanding consumer insights, growing smartphone penetration, high adoption of location-based marketing, increased adoption of GPS-enabled devices by enterprises and individual consumers, growing coverage of mobile broadband networks, and the success of new business models will result in this market’s impressive CAGR of more than 23% over the forecast period.

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Application-based segmentation of the enterprise LBS market

  • Location-based search and advertising
  • Location-based navigation
  • Location-based infotainment and analytics
  • Location-based tracking

In this market study, analysts have estimated the location-based search and advertising segment to be the largest revenue generating segment during the forecast period. Enterprises, retail outlets, and restaurant owners find this medium convenient to advertise their products, as it enables them to reach their customers efficiently and at a low cost.

Comprehensive market research carried out by the analysts at Technavio has shown that the location-based search and advertising segment will grow exponentially at a CAGR of over 30% by the end of 2020.

Geographical segmentation of the enterprise LBS market

  • Americas
  • APAC
  • EMEA

In this segmentation analysis, it was observed that the Americas was the largest market for enterprise LBS during 2015 as it accounted for more than 46% of the total market share. Factors like the high penetration rate of smart phones, the increased adoption of mobile social media, and growing advertising costs will aid in the growth of this market in the Americas during the forecast period.

Competitive landscape and key vendors

The global enterprise LBS market is highly competitive and consists of stakeholders like LBS device providers, map providers, location-based advertisers, platform providers, application developers, mobile operators, location-aware application and media providers, and location-based content providers. In this market, a large number of venture capitalists are funding LBS value chain providers, which, in turn, is leading to the rapid growth of the global enterprise LBS market.

The leading vendors in this market are -

  • AeroScout
  • Apple
  • Foursquare
  • Groupon
  • Google
  • HERE
  • xAD

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Other prominent vendors analyzed in this market research are Accuware, Adfalcon (Noquoush), Aislelabs, Appello Systems, Bfonics, BLIP Systems A/S, Burpple, Broadcom, COUPIES, Cisco, Facebook, Gimble, Hungry Go Where (Singtel Digital Media), indoo.rs, Intersec, Jatis Mobile, Komli Mobile, madvertise media, Millennial Media (Verizon), Nexage (Verizon), NextNav, Polaris Wireless, Pole Star, Scanbuy, Shopkick (SK Planet), ShowNearby (Honeybay), Skyhook Wireless (TruePosition), Social Retail, Sprooki, Thinknear (TeleNav), Thumbvista, TomTom, Verve Wireless, Vouchercloud (Vodafone), Waze (Google), Weve (O2), and Yoose.

Key questions answered in the report include

  • What will the market size and the growth rate be in 2020?
  • What are the key factors driving the global enterprise LBS market?
  • What are the key market trends impacting the growth of the global enterprise LBS market?
  • What are the challenges to market growth?
  • Who are the key vendors in the global enterprise LBS market?
  • What are the market opportunities and threats faced by the vendors in the global enterprise LBS market?
  • What is the trending factors affecting the market shares of the Americas, APAC, and EMEA?
  • What are the key outcomes of the five forces analysis of the global enterprise LBS market?

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