TMCnet News

Global Enterprise LBS Market 2016-2020 - Growing Need to Save Marketing & Advertising Cost - Research and Markets

[May 23, 2016]

Global Enterprise LBS Market 2016-2020 - Growing Need to Save Marketing & Advertising Cost - Research and Markets

Research and Markets has announced the addition of the "Global Enterprise LBS Market 2016-2020" report to their offering.

The report forecasts the global enterprise LBS market to grow at a CAGR of 23.47% during the period 2016-2020.

With advances in technology, Wi-Fi RFID badge tags equipped with text display screens and are widely adopted by hospitals for LBM. A display tag (News - Alert) provides information related to patient movements and missing assets, and the Wi-Fi RFID badge tags trigger messages to concerned staff. Thus, LBM manages the hospital workflow efficiently, sends context-aware messages, saves time, and reduces alarm fatigue.

According to the report, the growth of the market is driven by factors such as an increase in smartphone penetration among consumers and reduced marketing costs through targeted advetisements. Market vendors are focusing on reducing marketing costs and enhancing customer outreach. Most enterprises in domains such as retail, logistics, and food processing use location-based search and advertisement platforms to minimize operational costs.

Further, the report states that increased use of Bluetooth low energy beacon technology is creating problems for the retail enterprises and end-users, and the IDs of beacons are vulnerable to hacking and malware.

Key vendors: