Location Based Services (LBS) provide location-specific services to users through GPS or wireless network. LBS provide services such as navigation and mapping of points of interests, weather information, tracking field force, etc. These applications leverage the user's physical location to provide the desired information to the user.
The Location Based Services market in Europe is in its early phase of development. With a market share of 33 percent of the total world car market in 2008, the demand for navigation is driving the growth of LBS in Europe. With GALILEO (The European Global Navigation Satellite System) expected to be fully functional by 2013, a gamut of sophisticated LBS applications have been introduced in the European region.
Further, the aggressive marketing strategies adopted by the wireless network operators are driving the growth of LBS in Europe. Despite the rapid growth, certain factors like privacy issue, evolving business model and fragmented value chain need to be resolved to keep the European LBS market in the high growth trajectory.
The report by TechNavio Insights forecasts the size of the Location Based Services (LBS) Market in Europe over the period 2008-2012. Further, it discusses the key market trends, drivers and challenges of the Location Based Services Market in Europe and profiles some of the key vendors of this industry.