LBS Market in APAC 2014-2018: One of the Major Challenges is the Lack of Knowledge about LBS among Enterprises and Individual Consumers

Dublin, Ireland, January 23, 2014--  Location Based Services (LBS)  market in the Asia Pacific region to grow at a CAGR of 32.98 percent over the period 2013-2018, according to a new report by Research and Markets. One of the key factors contributing to this market growth is the increasing adoption of location-enabled devices in China and Southeast Asian countries. The LBS market in the APAC region has also been witnessing the increasing demand for free LBS applications. However, the lack of knowledge about LBS among users could pose a challenge to the growth of this market.

Key vendors dominating this space are Adnear, AutoNavi Holdings Ltd., Google Inc., Jiepang API, Mapmyindia, NavInfo Co. Ltd., HERE (Nokia Corp.), TeleNav Inc., and TomTom N.V.

Other vendors mentioned in the report are Bafang, Baidu Inc., Brarti Airtel Inc., Clingle (Srividya Tech Inc.), Dialme 24, Dialuz.com, Digu.com, Facebook Inc., GETIT Infoservices Pvt. Ltd., Guantu, Kaikai.com, LocationGuru, Maopao Community, Mobango Ltd., Mojostreet Infomedia Services Pvt. Ltd., MyCityWay, NavInfo Co. Ltd., NetEase Inc., PDAger Technology, Poynt Corp., Qieke.com, Sifang, Sina Corp., Tata DOCOMO, Tencent Holdings Ltd., Tiros Technology, and Weibo.com.

Commenting on the report, an analyst from TechNavio's team said: "Encouraged by the increasing popularity of LBS, many mobile application developers are developing free LBS applications. Moreover, numerous small LBS application developers are entering the LBS market in China and Southeast Asia with innovative LBS applications at very nominal charges or almost free of charge. Furthermore, with several advanced features and location-based mapping technology, most of the location-based/oriented searches are being provided free of charge by the LBS providers. For instance, Foursquare, one of the most popular social networking applications in India, uses geo-tagging technology, which helps subscribers to find the address of various places such as pubs, bars, and restaurants in their vicinity accurately for free. Similarly, the adoption of several free LBS social media applications is higher than any other LBS application which charges the users."

For more information go to:  http://www.researchandmarkets.com/research/qqwtww/lbs_market_in