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Location Based Services Market Growth in Upcoming Years (2021-2027) with Top Key Players like Cisco, Google, Esri, IBM, Microsoft, Oracle, TomTom, Teldio

Location Based Services Market

The Location Based Services market size is estimated to grow from USD 32.24 Billion in 2020 to USD 162.55 Billion by 2027, growing at a CAGR of 23.35% during the forecast year from 2021 to 2027.

Latest added Location Based Services Market research study by MarketDigits offers detailed product outlook and elaborates market review till 2027. The market Study is segmented by key regions that is accelerating the marketization. At present, the market is sharping its presence and some of the key players in the study are Aruba Networks, Cisco, Google, Esri, IBM, Microsoft, Oracle, TomTom, Teldio, HERE, Ericsson, Foursquare, Navigine, AiRISTA Flow, Quuppa. The study is a perfect mix of qualitative and quantitative Market data collected and validated majorly through primary data and secondary sources.

This report studies the Location Based Services Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the Location Based Services Market by companies, region, type and end-use industry.

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Scroll down 100s of data Tables, charts and graphs spread through Pages and in-depth Table of Content on “Location Based Services Market, By Component (Software, Hardware), Technology (GPS, Enhanced GPS, Cell ID, Wi-Fi), Application (Advertising, BI & Analytics, Mapping and Navigation), Industry Vertical (Logistics, Manufacturing) – Global Forecast 2027”. Early buyers will get 10% customization on study.

To Avail deep insights of Location Based Services Market Size, competition landscape is provided i.e. Revenue Analysis (M $US) by Company (2018-2020), Segment Revenue Market Share (%) by Players (2018-2020) and further a qualitative analysis is made towards market concentration rate, product/service differences, new entrants and the technological trends in future.

Unlock new opportunities in Location Based Services Market; the latest release from MarketDigits highlights the key market trends significant to the growth prospects, Let us know if any specific players or list of players needs to consider to gain better insights.

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Location-based Services Market Statistics: 2027

The Location Based Services market size is estimated to grow from USD 32.24 Billion in 2020 to USD 162.55 Billion by 2027, growing at a CAGR of 23.35% during the forecast year from 2021 to 2027.

Advent of digitalization boosts the need for location-based services (LBS), owing to its capability to offer customized marketing strategy solutions, which, in turn, creates new revenue growth opportunities for players opting for these solutions. Location-based services proliferate the demand for analytical solutions, due to their ability to provide and analyze real-time geo-data. For instance, retailers can strategize their marketing campaigns on the basis of customer locations for the nearest store or location-based offers. This is likely to help retailers with new and advanced revenue growth opportunities, which, in turn, is expected to boost the location-based services market during the forecast period.

Post COVID-19 emergence, mapping & navigation segment led the LBS market due to its high demand for tracking infected persons, analysing trends in footfall, and predicting the hotspot areas of COVID-19.

By component, the hardware segment was the highest contributor in the location-based services market in year 2019, due to the advent of digitalization among various industry verticals and high penetration of smartphones among individuals across the globe. Rise in penetration of smartphones and increase in usage of 3G & 4G networks drive the global market growth. In addition, key players have focused on developing low-priced GPS and other components to cater to the increasing demand of consumers, which significantly contributes toward the growth of the global market. Moreover, surge in adoption of mobile commerce and social media activities is expected to supplement the adoption of hardware components in the LBS market. However, services segment is expected to grow with the highest CAGR during the forecast period, due to increase in demand for services-as-a-solution in digital transformation activities among industries, especially in emerging economies. Thus, major players operating in the global location-based services market are investing in innovative location-based analytical solutions to gain competitive advantages.

North America dominated the location-based services market share in 2019, as most of the top players operate from this region. In addition, presence of well-developed location-based IT infrastructure is expected to boost growth of market in this region. In addition, Asia-Pacific is expected to exhibit the highest CAGR during the location-based services market forecast period. The factors that drive the growth of the market in this region include rise in IT spending capability and upsurge in demand for location-based services from the transportation & logistics sector in this region.

The outbreak of COVID-19 is anticipated to have a positive impact on the growth of location-based services market. With the emergence COVID-19, the use of location-based services is likely to enable governments to address the impact of social distancing and facilitate tracking patterns of movements of individuals and traffic patterns. Innovations and advances in location-based services post COVID-19 outbreak with features such as real-time tracking, location-based marketing, and geotagging, have further supported the market growth.

The report focuses on the growth prospects, restraints, and location-based services market analysis. The study provides Porter’s five forces analysis of the location-based services industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers.

Segment review

The global location-based services market is segmented into component, technology, application, industry vertical, and region. By component, the market is categorized into hardware, software, and services. On the basis of technology, it is divided into GPS, assisted GPS (A-GPS), enhanced GPS (E-GPS), enhanced observed time difference, observed time difference, cell ID, and Wi-Fi. The applications covered in the study include location-based advertising, business intelligence & analytics, fleet management, mapping and navigation, local search & information, social networking & entertainment, proximity marketing, asset tracking, and others. Depending on industry vertical, the LBS industry is segregated into transportation & logistics, manufacturing, government & public utilities, retail, healthcare & life sciences, media & entertainment, IT & telecom, BFSI, hospitality, and others. Region wise, the market analysis is performed across North America, Europe, Asia-Pacific, and LAMEA

Location-based Services Market : By Component

Hardware segment is projected as one of the most lucrative segments during the forecast period.

The key players operating in the location-based services market include Alcatel-Lucent SA, Apple, Inc., AT&T Inc., Bharti Airtel, LTD., Cisco Systems, Inc., Google Inc., HERE, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, and Qualcomm Inc. These players have adopted various strategies to expand its business, strengthen its product portfolio, and increase their LBS market penetration, which, in turn, is expected to support the global location-based services market growth.

Location-based Services Market : By Technology

Assisted GPS segmented the location-based services market in year 2019.

Top impacting factors

Rise in demand for location-based services owing to its diversified scope of applications is a major factor expected to drive the growth of the market. Surge in demand for location-based services among various industry verticals for applications such as location-based advertising, business intelligence & analytics, and fleet management is further expected to offer remunerative opportunities for the expansion of the global LBS industry during the forecast period.

Location-based Services Market : By Application

Mapping and navigation accounted for the highest market share in 2019.

Diversified scope of applications

The growth of the LBS market is driven by the diversified scope of applications across various sectors. For instance, LBS is used for navigation, traffic management, asset tracking, and proximity-based marketing. In addition, it finds its application in fraud prevention, mobile workforce management, and context advertising. Energy & resource management agencies use LBS for evaluation of land cover, vegetation, water resource management, and geology mapping. The defense & military sector utilize LBS for surveillance, battlefront analysis, and strategy formulation. In civil engineering, LBS solution is used for resource mapping, evaluation of geological information, and estimation of suitable location for building, planning, & construction activities. In addition, transportation, media & entertainment, insurance, and tourism sectors offer a wide scope of applications for LBS.

Location-based Services Market : By Industry Vertical

Transportation & Logistics industry is one of the most significant segments.

Increase in demand for location-based services

Location-based services are used to provide information about user’s location through internet by using real-time geo-data. The advent of smart devices, wireless technologies, cloud computing, Internet of Things (IoT), and smartphone applications has led to aggrandized traffic on websites. This has fueled the adoption of LBS to improve services and enhance user experience depending upon the end user’s location, which, in turn, is expected drive the market growth. Therefore, LBS has gained importance across various sectors, including government authorities, defense & intelligence, transportation, telecommunication, manufacturing, e-retailing, energy, and natural resource management. Furthermore, increase in penetration of connected devices and machine-to-machine communication systems has notably boosted the need for real-time location-based data sets. This has significantly driven the demand for Internet of Things (IoT) devices across diverse sectors, which is helping companies to develop smart geo-mapping solutions. Thus, aforementioned are key factors are expected to fuel the growth of the global market growth during the forecast period.

Location-based Services Market : By Region

2027
Asia-pacific
North America
Europe
Lamea
Asia-Pacific would exhibit the highest CAGR of 30.0% during 2020-2027

Key Benefits For Stakeholders

  • This study includes the location-based services market trends, analysis, and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities of the location-based services industry.
  • The LBS market is quantitatively analyzed from 2019 to 2027 to highlight the financial competency of the industry.
  • Porter’s five forces analysis illustrates the potency of the buyers & suppliers in the location-based services market size.

Key Market Segments

By Component

  • Hardware
  • Software
  • Services

By Technology

  • GPS
  • Assisted GPS (A-GPS)
  • Enhanced GPS (E-GPS)
  • Enhanced Observed Time Difference
  • Observed Time Difference
  • Cell ID
  • Wi-Fi
  • Others

By Application

  • Location-based Advertising
  • Business Intelligence & Analytics
  • Fleet Management
  • Mapping & Navigation
  • Local Search & Information
  • Social Networking & Entertainment
  • Proximity Marketing
  • Asset Tracking
  • Others

By Industry Vertical

  • Transportation & Logistics
  • Manufacturing
  • Government & Public Utilities
  • Retail
  • Healthcare & Life Sciences
  • Media & Entertainment
  • IT & Telecom
  • BFSI
  • Hospitality
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Rest of Asia-Pacific

Key Market Players

  • Alcatel-Lucent SA
  • Apple, Inc.
  • AT&T Inc.
  • Bharti Airtel, LTD.
  • Cisco Systems, Inc.
  • Google Inc.
  • HERE
  • International Business Machines Corporation
  • Microsoft Corporation
  • Oracle Corporation
  • Qualcomm Inc.

The base year for calculation in this Location Based Services Market business report is taken as 2020 while the historic year is 2019 which will tell how the market will perform in the forecast years by informing what the market definition, classifications, applications, & engagements are. This Location Based Services Market report is also all-embracing of the data which covers market definition, classifications, applications, engagements, market drivers & market restraints that are based on the SWOT analysis. A large scale Location Based Services Market report is a comprehensive study about the market which tells about the market status in the forecast period of 2021-2027.

Available Customizations :
With the given market data, We offers customizations as per the company’s specific needs. The following customization options are available for the report:
Product Analysis: Product matrix, which gives a detailed comparison of the product portfolios of each company
Geographic Analysis: Further breakdown of the European, Asia Pacific, and the Rest of the World segments into their respective countries for this market
Company Information: Detailed analysis and profiling of additional market players (up to 5)
Volume Data: Customization options for volume data* (number of units sold) and customization options for volume data [* if applicable]
1-year analyst support, along with the data support in excel format.

Opportunities Assessment: A detailed report underlining the various growth opportunities presented in the market

Table of Contents:
1 Market Overview
1.1 Global Location Based Services Introduction
1.2 Market Analysis by Type
1.3 Market Analysis by Applications
1.4 Market Analysis by Regions
1.5 Market Dynamics
1.5.1 Market Opportunities
1.5.2 Market Risk
1.5.3 Market Driving Force
2 Manufacturers Profiles
2.1.1 Business Overview
2.1.2 Location Based Services Type and Applications
2.1.3 Location Based Services Sales, Price, Revenue, Gross Margin and Market Share (2021-2027)
3 Global Location Based Services Market Competition, by Manufacturer
4 Global Location Based Services Market Analysis by Regions
5 Region 1, Type, Application and Manufacturers
.
.
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10 Global Location Based Services Market Segment by Type
11 Location Based Services Market Segment by Application
12 Location Based Services Market Forecast (2021-2027)
13 Sales Channel, Distributors, Traders and Dealers
14 Research Findings and Conclusion
15 Appendix
….Continued

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