As GPS embedded smart phones are becoming increasingly available, many location-based services are penetrating the market. Furthermore, the ubiquitous nature of social networks is allowing for a collective power to transform the way we make decisions. Their combination in the form of Mobile Location Based Social Network Services is, not surprisingly, proving to be the new killer business that combines both physical and virtual spaces in a real-time user environment. In this report, we dive into this market to identify the role that a service based on a seamless indoor and outdoor positioning technology called IMES (Indoor Messaging System) could play in this market. What we find is that the value of accurate indoor positioning technology lies not just in the extension of existing services to an indoor environment, but it also allows one to attain categorically different information from the behavioral patterns of people. Having information on both indoor and outdoor location makes it possible to build a mapping and profile of someone's lifestyle. Creating the possibility to provide people with more personalized information both in a non-commercial and commercial fashion.
We therefore present the business concept of the 'first', lifestyle enhancing, location-based social network service.
Having performed research on the market of location-based services, (growing at 50% year-over-year, to a worth of $13.4 Billion in 2014 worldwide and $1.7 Billion in just Japan, that's a 142 Billion Japanese Yen) analyzed the opportunities within this market, (competitors are quickly entering and while not much can be said about their staying power they have yet to find the power of seamless indoor-outdoor positioning systems) found untapped market trends, (consumers want personalized information, to be aware of their choices and be able to make better choices, but cannot yet by most location-based services... we designed the business concept.) and calculated net present value in a profitability study, (showing a profitable base case for development and implementation of our business concept) we arrived at the following recommendation.
Dive even deeper into this emerging market of (mobile) location-based services and by the use of the methods presented throughout this report finalize this concept to an implementation ready business plan. Because where technology meets opportunity in an exponentially growing market, opportunities should not be left in vain.
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