Third Generation of LBS to Capitalize on Location Based Advertising, Says ABI Research | Be Korea-savvy

Third Generation of LBS to Capitalize on Location Based Advertising, Says ABI Research


“In Asia, ABI Research sees LBS downloads breaking 4 Billion in 2019. In China, major Internet companies can see the necessity of location and are acquiring/integrating as they move to mobile." (image: Kobizmedia/ Korea Bizwire)

“In Asia, ABI Research sees LBS downloads breaking 4 Billion in 2019. In China, major Internet companies can see the necessity of location and are acquiring/integrating as they move to mobile.” (image: Kobizmedia/ Korea Bizwire)

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LONDON, June 23, 2014 (Korea Bizwire)–The LBS market continues to grow strongly and with the arrival of  always-on ubiquitous location, ABI Research believes that the market is  ready to truly support location based advertising efforts. In Western  Markets, a third generation of location based services is now underway.  It has forecast retail/shopping, ambient intelligence, hyperlocal social  and personal asset tracking/BLE beacon applications to emerge as the  next wave of important location based services over the next 5 years,  with ABI Research forecasting a four-fold increase in revenues by 2019.

In emerging regions the value of location is not lost with strong local  deals/offers markets already emerging. Senior analyst Patrick Connolly  comments, “In Asia, ABI Research sees LBS downloads breaking 4 Billion  in 2019. In China, major Internet companies can see the necessity of  location and are acquiring/integrating as they move to mobile. Tencent,  the Chinese Internet giant, has spent approximately $200 million to  acquire an 11.28% stake in mapping company NavInfo. This follows  Alibaba’s acquisition of AutoNavi. Tencent has also invested in the  Chinese Yelp, Dianping, which is one of the top three players in the  local deals market, which is estimated to have reached $1.2 Billion in  1Q14. Sina Weibo, which floated on the NASDAQ in April also has its own  Places application.”

Furthermore, in a reversal of previous LBS application trends, ABI  Research expects to see many of these companies expanding into  international markets in the future. MOMO is such an app, with 20  million subscribers, which is using location to go local and generate  advertising revenues. It has used a round of investment to launch an  English version of the application, which it hopes will enable it to  expand.

These findings are part of ABI Research’s Location  Based Services Market Research (https://www.abiresearch.com/market-research/service/location-enabled-services/).

ABI Research provides in-depth analysis and quantitative forecasting of  trends in global connectivity and other emerging technologies. From  offices in North America, Europe and Asia, ABI Research’s worldwide team  of experts advises thousands of decision makers through 70+ research and  advisory services. Est. 1990. For more information visit www.abiresearch.com,  or call +1.516.624.2500.

Source: ABI Research (via BusinessWire)

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