location based services a not to miss opportunity

Ever wondered how you get an SMS detailing a discount in a store while roaming in a mall? Or getting an intimidation about a hefty discount in the nearest fast food retail centre while crossing one? Well like any other majesticall experience there is a technology behind it termed as Location Based Service(LBS)

Location Based Services are being eyed by the country’s telecom operators as a potential technology which can help ooze out more revenue for them from the subscribers as well as benefit the consumers by letting them know the latest discounts available in the market leading to a win-win proposition.

LBS fetches the subscribers with wireless mobile content of a specific location as they  travel from one place to another leading to numerous opportunities of revenue generation for both the telecom operators as well as shopping outlets.

The user too is empowered with the technology as it enables him with information regarding nearby movies, restaurants, ATMs, receive alerts and many other tracking options. The telecom operators however are just in their infancy to bank on the technology and India still has miles to go in receiving a sophisticated integrated ecosystem of telecom service providers, merchants and customers.

But that doesn’t fade the enormous opportunities LBS brings along as according to a report by research major Gartner India’s mobile advertising market will grow at a CAGR of more than 90 percent reaching $40 million in the coming two years. The number may seem miniscule compared to other growth figures but a CAGR of 90 percent and the massive investment in the retail sector of the country can’t be overlooked as it is one of the biggest market for IT vendors which is expected to witness a gigantic growth in near future.

Coming back to present then the best possible way for the telecom operators to monetize the LBS potential concludes to analyzing their subscriber chunk which is willing to pay the services and stressing on marketing the benefits of the LBS ecosystem. The real potential of the technology is however destined to reflect as the LBS ecosystem updates.