Location-based services use real-time geo-data from mobile devices such as smartphones and GPS-enabled devices to provide information. They provide indoor as well as outdoor services and can be used in multiple contexts such as entertainment, health, work, object search, and personal life. They can also be linked with several business processes to provide detailed assessment of location-based information.
Navigation Systems Capture Exact Location
Major types of location-based services provided in the market include location, navigation, query, recognition, and event checking. Location-based navigation is popular among users as it enables integration of geospatial metadata in digital media such as text, images, audios, videos, and web pages. As a result, the location-based navigation segment has been dominating the market in recent years and is expected to grow rapidly during the forecast period (2017 to 2022). This can be attributed to technological advancements and availability of low-cost GPS devices. This system is adopted in the transportation industry on a large scale to track status of vehicles.
Navigation systems are designed to aid vehicles and people in traveling from one place to another. Navigation products generally receive signals from wireless networks and an application is installed in most mobile devices to provide real-time information to users. Google Maps is one such app that is widely used by smartphone users for navigation.
In September 2017, Broadcom Limited launched the world’s first dual frequency GNSS receiver device, “BCM47755”. This device is designed for mobile devices such as smartphones, tablets, and wearable devices. It is equipped with Global Navigation Satellite System (GNNS) to enhance accuracy and is appropriate for applications including augmented reality and lane-level vehicle navigation.
Market Overview
According to a report on Radiant Insights, Inc., rising use of smartphones and availability of highspeed Internet due to introduction of 3G and 4G services can propel the location-based services market. Increasing integration of location-based search into social media websites can also make a major contribution toward market growth.
United States represents the largest market due to increasing use of location-enabled search by users and growing indoor location-based services in the retail sector.
Some of the leading players shaping the market are Ericsson, Ekahau, TomTom International, DigitalGlobe, and Pitney Bowes.
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