The global market for GPS navigation and Location Based Services to rise to $13.4 billion in 2014, a CAGR of 51.3% An increasing number handsets launched have GPS capability and we expect greater ubiquity of GPS / LBS over the next five years, according to Research and Markets's new report "US GPS Navigation and Location Based Services Forecast 2010-14."
While growth in the LBS market has not been spectacular in the past, we think that the increasing availability of GPS handsets and applications (particularly Android and iPhone applications) will help accelerate adoption for LBS across the world. The report is forecasting a total addressable global market for GPS navigation and location based mobile services to rise by a CAGR of 51.3% to $13.4 billion in 2014, from $1.6 billion in 2009.
Among the highlights of the report:
· Location Enabled Search and Advertising will see the biggest growth, growing at a CAGR of 131% over the next five years
· Location Enabled Search and Advertising will replace Voice-guided In-Car Navigation as the main use for GPS-LBS applications in the next several years
· Globally, Location Enabled Search and Advertising will see total spend rise significantly from $207.3 million in 2009 to $5.9 billion in 2014, making it the fastest growing segment in the LBS market place.
· By 2014, there will be 780 million unique users of Location Enabled Search and Advertising with 15.6 billion click thrus.
· Voice Guided Automobile GPS Navigation users will rise to 61 million users in 2014
· Total spending on Voice Guided Automobile GPS Navigation to rise to $3 billion in 2014
· North American GPS navigation and LBS market to rise to $4.3 billion in 2014
· North America (Canada and United States) will account for 32.4% of the world market share for GPS navigation and LBS spend in 2014
· The biggest growth coming from Location Enabled Search and Advertising in the North American market. Total spend in this category will rise in North America at a CAGR of 136% to reach $2 billion by 2014.
· There were 6.2 million Voice Guided In Car Navigation users in North America in 2009. This accounts for 42% of global users. We expect that in 2014, North America will have 17.2 million Voice Guided In Car Navigation users, accounting for 27.8% of global users of such services.
· Canada will see 40.5% CAGR in LBS spending over the next five years with a market valued at $193 million in 2014.
· The United States will still be one of the largest single market for LBS in the world with a growth rate of 37.5% CAGR over the next five years. We expect the US market to be valued at $4.16 billion in 2014.
For more information visit http://www.researchandmarkets.com/research/d476a9/3q_2010_united_sta
