Imagine a scenario when individuals are on a road trip to some remote place, and they encounter sudden adversities like an accident or a blown tire. Next, they call for assistance; but have a hard time communicating their present location and providing route directions as the place is unknown to them; resulting in delayed help. In such situations, location-based applications come to the rescue as these track down the exact location of the smartphone user, without the need for giving directions, enabling the help services to reach quickly.
How about a situation when one visits a foreign city and faces difficulty in finding a grocery store or a food joint? Well, location-based intelligence helps in speedily locating the desired store!
This distinct capability of location-based services (LBS) – finding out the location of the user and provide services accordingly – helps consumers to overcome myriad roadblocks encountered in their daily lives. As these apps continue to rise in popularity, businesses across diverse sectors are focussing on Location-based App development. As per a report published by “RESEARCH AND MARKET”, the LBS market was valued at 44.47 Billion USD in 2020, and is predicted to reach 155.13 Billion USD by 2026; as it’s expected to expand at a CAGR of 23.4% between 2021 and 2026.”
Let’s dig into some crucial insights on the rise of location tracking apps and peek through the reasons to incorporate a location-based app for your business.