One of the Main Factors Driving the Global Location Based Services (LBS) Market is the Increasing Adoption of GPS-Enabled Devices

Dublin, Ireland, September 20, 2013-- Research and Marketshas announced the addition of the "Global Location Based Services (LBS) Market 2012-2016" report to their offering. Commenting on the report, an analyst from the team said: One of the main trends witnessed in the Global LBS market is the increasing adoption of LBS across industries."

Several industries are increasingly adopting LBS devices to enhance the efficiency of their supply chain operations. LBS applications are used to track logistics, vehicle movements, stocks (commodities at outdoor outlets), and for inventory management. The Retail and Food & Beverages industries are the two major industries where LBS devices are increasingly used in SCM to reduce transportation costs. In addition, the increasing adoption of LBS in fleet management provides a competitive advantage for companies since it helps establish communication between drivers and fleet management operators. Thus, the increasing adoption of LBS across industries augurs well for the growth of the market during the forecast period.

The analysts forecast the Global Location-based Service (LBS) market to grow at a CAGR of 35.25 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing adoption of GPS-enabled devices. The Global LBS market has also been witnessing the increasing adoption of LBS across various industries. However, the increasing concern associated with personal data privacy could pose a challenge to the growth of this market.

According to the report, one of the main factors driving the market is the increasing adoption of GPS-enabled devices. The adoption of GPS-enabled devices such as smartphones, tablets, PNDs, handhelds devices, wrist-worn devices, two-way radios, sports devices, and portable LBS devices has increased significantly over the past few years.