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LBS market in America to grow by 43%

US: TechNavio Insights released the report ‘Location Based Services (LBS) Market in America 2008-2012.’ According to TechNavio, the LBS market in America is forecast to grow at a compound annual growth rate (CAGR) of 43.1 percent over the forecast period (2008-2012). Being in its early stage of development, the LBS market in America is undergoing a rapid transformation as well; mainly driven by navigation and family safety solutions.

LBS applications leverage the user’s physical location by providing services such as navigation and mapping of points of interests, weather information, tracking field force, etc. The GPS system that is controlled and managed by the US coupled with the E911 legislation have been the major drivers for the growth of the American LBS industry. Also, LBS are aggressively promoted by the wireless operators. Further, the growing number of application stores and availability of GPS enabled mobile phones are some of the factors contributing to the growth of this industry.

‘Despite the high growth rate, privacy concern and the aging GPS infrastructure are certain issues that need to be resolved to keep the industry in its high growth trajectory,’ said a TechNavio expert.

Source: Market Publishers