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U.S. LBS Market to Expand at 30.03% CAGR between 2016 and 2020, Increasing Penetration of Smartphone Drives Growth

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Published on : Apr 04, 2016

Albany, New York, April 04, 2016 – The research report, titled “LBS Market in US 2016-2020,” offers a comprehensive analysis of the performance as well as the current status of the U.S. LBS market. The research report presents an analysis of the latest trends, growth drivers, and limitations that influence the U.S. LBS market, emphasizing on the research and development of technologies related to location-based services.

The study also provides an evaluation of revenue opportunities in the U.S. market for LBS over the forecast period. It also analyzes the current and the upcoming trends in this market on the basis of the device, technologies utilized, end users, and the regional spread of this market.

According to the report, the LBS market in the U.S. is likely to expand at a CAGR of 30.03% during the forecast period from 2016 to 2020. The increasing uptake of smartphones, tablets, and other mobile devices has been propelling the U.S. market for LBS over the last few years. The technical advancements in LBS systems have also fueled their adoption significantly across the world.

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On the other hand, the dearth of awareness, as well as expertise pertaining to LBS, is likely to hamper the growth of the U.S. LBS market during the forecast period. However, the rising demand for wearable devices is expected to present massive opportunities to market players in the coming years, states the research report.

Based on technology, the U.S. market for LBS has been classified into Wireless fidelity (Wi-Fi), radio frequency identification (RFID), wireless local area network (WLAN), infrared, ultrasound, and Bluetooth low energy (BLE) in this report. The Wi-Fi segment has acquired the leading position in this market.

By devices, tablets, smartphones, and other devices fixed in automobiles are the major segments of this market, states the report. The smartphones segment leads this market across U.S. Other segment are also exhibiting significant growth, notes the study.

Based on the end user, the report categorized the U.S. LBS market into government organizations, individual consumers, and SMEs as well as large enterprises. The individual consumers segment has been dominating this market since past few years, states the research study.

The research study also offers a competitive landscape of the U.S. LBS market by analyzing the company profiles of the major market participants. As per the report, Foursquare, Telenav, Apple, and Micello are dominating this market. Navizon, Polaris Wireless, Sensewhere, Aisle411, AdNear, Shopkick, MazeMap, Intel, Scanbuy, Spirent Communications, Google, and IndoorAtlas are some of the other prominent companies operating in this market, notes the study.

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