Government Funding to Develop Indoor Navigation Services to Spur Growth in the Indoor LBS Market in Western Europe
FOR IMMEDIATE RELEASE, Illinois – United States – January 12,2015 (PR Buzz): Reportstack has announced a new market research report on the Indoor LBS Market in Western Europe 2015-2019. One key trend in this market is the increased use of LBS in financial institutions. Banks in the UK use LBS to engage customers and provide them with a more personalized banking experience. Also, banks are implanting iBeacons in their branches to detect the location of a customer inside a branch. The Indoor LBS market in Western Europe is expected to grow at a CAGR of 56.24 percent during the forecast period of 2014-2019.
Increased deployment of high-speed broadband networks coupled with the penetration of GPS-enabled devices has created a huge opportunity for the development of indoor LBS in Western Europe. Increased support from government, both in terms of finance and policies, is expected to boost the interest of leading players and new entrants to innovate and develop newer products.
“Government organizations use advanced technologies such as indoor LBS to protect important and strategically located buildings from terror attacks,” .“Governments in Europe have also formulated policies to develop indoor navigation services using iBeacon technology, which is mainly used in hospitals, hypermarkets, supermarkets, stadiums, and leisure parks.”
To define the market conditions in the next 3-4 years, the analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
Complete report available @ Indoor LBS Market in Western Europe 2015-2019.