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North America Location Based Services (LBS) Market is Expected to Reach $13.10 Billion in 2019 - New Report by MicroMarket Monitor
Date:7/22/2014

(PRWEB) July 22, 2014

Location-based services (LBS) technology is diversifying businesses by providing ubiquitous applications on location-based data. The retail and food and beverage industries are using LBS devices in order to reduce transportation costs. Due to these factors, the revenue of the location-based service market has reached $8.12 billion in 2014, and is expected to reach $39.86 billion by 2019 at a calculated CAGR of 37.50% during this period. Top industries providing this service are Microsoft, Google, Cisco, IBM, and HP.

http://www.micromarketmonitor.com/market-report/location-based-services-lbs-reports-3717915738.html

In recent times, owing to the emerging era of technology, there is an increase in the number of smartphone users. Consequently, the need for location-based services is rising. The changing business environment requires data to be made available at consumer locations. Various organizations generate profit by identifying the location information of the customer. Smartphones, which have various in-built location-based applications for the user, are the backbone of this market. Social networking at any location with the benefit of utilizing the information is enhancing the need for location-based services day by day. Some of the key players in the location-based services market are Facebook, Microsoft, Cisco, and Blackberry.

North America is one of the developed regions in technology and software applications. Various organizations are serving the LBS market by using location-based services or apps to track their customers and this data for marke
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