Location Based Systems (LBS) have been looking to break out for years now. Despite the fact that LBS technology still hasn’t really hit its stride, a new report by Berg Insight seems to believe that the next five years are when the tech is really going to explode.
Berg Insight just released a new research report that says that the global market for LBS technology is going to see steady growth over the next several years. In 2012, Berg believes that LBS tech will top out with revenue somewhere just over $230 million. By 2017, that revenue number is expected to grow to more than $360 million. One of the things driving this new demand is technology that works well with LBS solutions, such as those that use Interactive Voice Response (IVR) in new and innovative ways.
"Leading location platform and chipset vendors such as Ericsson, TeleCommunication Systems, CSR, Broadcom and Qualcomm are now also escalating their efforts to enable reliable and ubiquitous location indoors", said Andr Malm, senior analyst, Berg Insight. "Achieving seamless transition between outdoor and indoor navigation requires handsets with hybrid location technologies.”
Technologies that are being billed as hybrids of LBS and other techs are also growing and those hybrid technologies will almost certainly mean better revenue numbers for LBS producers. It does indeed seem as though this particular technology is one that could really catch on thanks in large part to help from other sectors and technologies.
Edited by Brooke Neuman