DUBLIN -- (BUSINESS WIRE) -- Research and Markets (http://www.researchandmarkets.com/research/74thw8/indoor_lbs_market) has announced the addition of the "Indoor LBS Market in the US 2014-2018 with Apple, Google, HERE, Micello, & Shopkick Dominating" report to their offering.
The Location-based Search and Advertising market in the US will grow at a CAGR of 44.87% to 2018
The number of venues covered by indoor LBS map providers is increasing at a rapid pace over the past few years. The segment is witnessing large competition in the US market. In addition, due to the presence of large players such as Google and HERE as well as innovative map platform providers, the market competition is intensifying. The major players in the US, Google, Point Inside, Micello, FastMall, and HERE, cumulatively covered more than 25,000 venues in the US. As the demand for indoor LBS is increasing, and more business organizations are adopting indoor LBS, the number of venues in the US is expected to increase to almost 200,000 by 2016. Thus, the increasing availability of indoor venue maps is an emerging trend that could fuel the growth of the market during the forecast period.
According to the report, one of the main drivers in this market is the increased use of indoor LBS by consumers. Most people in the US spend more than 80 percent of their daily time indoors. In addition, more than 85 percent of mobile data in the US is generated from indoor locations. Advancements in positioning technology and survey methodology have made it easy to determine the location of a smart device. In addition, personal communication devices such as smartphones and tablets enable the use of indoor positioning through local wireless networks. Hence, consumers have started using indoor LBS in shopping malls, multiplexes, universities, campuses, and airports.
Further, the report states that one of the major challenges in this market is the determination of the location in indoor environments. Indoors, the accuracy of the location of the user is expected to be very high. However, the operation of GPS technology is very limited in an indoor environment. In addition, because of challenges in the indoor environment, it is difficult to determine the location of the user using Wi-Fi and Bluetooth technology. This is because most indoor places are multi-floor and unevenly structured.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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