Albany, NY -- (SBWIRE) -- 02/24/2017 -- The report is an elaborate study on the location based services (LBS) market in the U.S. and provides a comprehensive evaluation of the market in terms of its present state and growth prospects in the coming years. The research methodology utilized for the estimation and forecast of the LBS market takes into account information on the prime vendor revenues via secondary research. For determining the market segmentation, a key role has been played by these vendor offerings. The market has been studied on the basis of the performance of numerous parent segments and sub-segments, which were verified after conducting primary research through interviews with leading market experts and executives.

The report states that the market for LBS in the U.S will expand at a whopping 30.03% CAGR from 2016 to 2020. The report commences by providing a market overview, which includes the market forecast, market definition, and market size. The size of the market by the end of the forecast horizon has also been highlighted under this section of the report. LBS utilizes the positioning capabilities of wireless devices for the delivery of innovative services to users of mobile phones. It is a dynamic and major area in the technology market and utilizes GIS technology, along with the internet, for tracking the location of the user and providing search results.

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In the next section of the report, the market has been segmented on the basis of technology and application. On the basis of application, the report segments the market into location-based search and advertising, location-based tracking, location-based navigation, emergency support and disaster management, and location-based games and augmented reality. Mobile LBS utilizes the users' location in a wireless network utilizing location-enabled mobile devices such as tablets, smartphones, devices fitted within vehicles, and PNDs. In terms of technology, the report segments the LBS market in the U.S. into the indoor LBS market and the outdoor LBS market.

In the following section of the report, the major drivers, challenges, and trends prevalent in the U.S. market for LBS have been presented. These dynamics have been elaborated upon on the basis of their impact on the growth of the market. As per the report, the rising adoption of smartphone devices is amongst the chief factors stimulating the growth of the market. In addition, the use of LED fixtures in LBS systems is a key opportunity in the market within the U.S. On the other hand, the increasing concerns about privacy and security amongst users are a major factor impeding the growth of the market in the U.S.

According to the report, the prime vendors operating in the LBS market in the U.S are Apple

Foursquare, Micello, HERE, Telenav, Google, IndoorAtlas, Intel, MazeMap, and Navizon, among others.

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