Monitoring these trends BMR report thoroughly studies the key drivers, restraints and opportunities keeping the future of the sector robust. As per as the study LBS market is expected to register a CAGR of 37.38% by 2018.
Over the past five to six years, industry experts have heralded 2016 ripe of “Location Based Services (LBS)”. But it’s a report added by “Big Market Research “, titled “Global Consumer LBS Market 2014-2018”, which has captured how different pieces of the maze are finally falling into place.
Study clearly indicates, while GPS enables mobile phones keep generating riches of location information, government bodies have realized the advantages geo-spatial solutions can offer to the state and country. Furthermore, enterprise segments explored in the report introduces the capabilities of location based analytics and advertising amongst others.
Researchers seem to have drawn inspiration from a proud moment where Rivada Networks received Japanese Patent No. 5856675 that covers its improved LBS.
Research further assesses the significance of LBS in retail and hospitality industries, which are fast transforming to serve the omni – channel customer requirements. Its presence in these sectors also offers prospects for experimenting with and taking a leap in creating user loyalty.Report confirms that retailers are applying LBS to push attractive promotional offer to those investing an extended amount of hours in a particular department. Similarly analysts add, hospitality sector is focused at offering customized remote access and assistance to improve guest’s stay and encourage loyalty.
This is clear from the fact how “GasBuddy” application observed over 52 million downloads as well as how customers are helping each other save billions every year.
Beneficial location data experienced by the industry has now been exposed via DPMs and DSPs. Thus study lists out Oracle Marketing Cloud that has aggregated the location data and has added it to different contextual data to enhance targeting.
There is an array of companies out in the market that offers SDKs supported with contextual personas as well as geo- fencing. This enables users to capture customer behavior as well as perform things beyond ad: including Wireless Registry, Skyhook.
Study weighs up on “Internet of Things “that suddenly got so serious and widely accepted. True, there is gamut of enterprises attempting of make beacons advantageous for users.
Since its inception Tile has enabled users locate their keys and mobile phone. On the other hand, Pixie aids users to put beacons on such things and make them into virtual reality viewfinder.
Extensively research document shows how consumer tech has got smarter as well as science fiction associated with connected home has strengthened. This indicates that users can not interact with their microwave oven and the dryer via smart phones, but also instruct their sprinkler systems and in –house security cameras.
Many have admired the way Weft took over the logistics sector and applied location to enable business owners makes profitable supply-chain decisions. Thus, the research is focused on helping business owners drive decisions.
Companies such as Localytics have been top rated for driving in customer experience decisions by displaying data in interaction route. This company is known to use location to help provide a breakdown where customers are across different countries.
Enterprises that enable users to get closer than fifty meter accuracy often intrigue industry experts.
Prominent vendors covered during the research include Appello Systems, Garmin International, Verizon Communications, Skyhook Wireless and Rogers Wireless among others. Researchers evaluating the industry reveal that fast adoption of the GPS – driven smart phones is driving the industry worldwide.
Besides this, there are clear indications that application of analytics is likely to enhance consumer engagement.
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