LBS Market in the US 2016-2020

Outlook of the location-based services (LBS) market in the US

Technavio’s market research analysts have predicted the location-based services (LBS) market in the US will grow at an impressive CAGR of more than 30% over the forecast period. This market will be positively affected by the increasing adoption of smartphones in the coming years. The consumer demand for smartphones has been increasing rapidly over the years which has led to the introduction several new smartphone models and the development of compelling mobile applications. Moreover, the US is one the world’s largest 4G market and has a 100% smartphone adoption rate with respect to its population. Furthermore, due to a high-speed mobile Internet connection that provides real-time information and context-aware services using cloud technology, highly personalized location solutions are offered to retailers. Such solutions ensure high customer engagement, thereby increasing sales.

The integration of location-based search with social networking sites like Facebook, Twitter, and Flickr on a mobile platform is increasing worldwide. This integration helps users post updates on social networking sites with exact location information. Therefore, smartphone manufacturers are collaborating with LBS providers to develop applications that integrate location-enabled search with social networking sites. Additionally, LBS service providers like GeoSolutions Holdings and Pelago offer location-based mobile social networking services that let users share their real-life experiences using geo-tagged, user-generated multimedia content. Moreover, the integration of location-based search with social networking websites helps local advertisers to target potential customers easily. The integration of location-based search with social networking websites and its rising adoption is a critical factor that will impel the prospects for growth in this market until the end of 2020.

Segmentation by technology and analysis of the LBS market in the US

• Outdoor LBS
• Indoor LBS