Reportstack has announced a new market research report on 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.
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,”.
According to the report, 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,”.
“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.”
Complete report available @ LBS Market in APAC 2015-2019