KEY POINTS
- Increased adoption of mobile internet driving factor
- Driven by location-based navigation, tracking, search and advertising, analytics, indoor LBS
- Availability of 3G led to rise in consumer base for mobile Internet
- Lack of updated, reliable and accurate information key concerns
The Location Based Services market in India is likely to grow at a compounded annual growth of 58.61% over the period from 2014 to 2019.
A report from Research and Markets says one of the major challenges that the market faces is the lack of updated, reliable, and accurate information. Consumers using LBS expect real-time information provided by LBS. The lack of updated information about a region’s infrastructure leads to LBS-enabled apps providing outdated data. This anomaly is primarily because of the lack of content providers on a regional level. India has a serious deficit of content providers.
A critical driver in the Indian market is the increased adoption of mobile internet. In fact, the availability of 3G (as well as the recent introduction of 4G) in India has resulted in a rise in the consumer base for mobile internet, which indisputably directly impact the LBS market in India.
