The report presents an in-depth assessment of the Location-based Services Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Location-based Services from 2021 till 2026. The report covers the pre COVID-19 historic data, impact of COVID-19 and post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.
The location-based services market was valued at USD 44.47 billion in 2020 and expected to reach USD 155.13 billion by 2026 and grow at a CAGR of 23.2% over the forecast period (2021-2026).
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Location-based Services Market: ALE International, Teldio Corporation, Cisco Systems Inc., Creativity Software Ltd., DigitalGlobe Inc.(Maxar Technologies ), Ericsson Inc., IndoorAtlas Ltd, Esri Technologies Ltd, GL Communications Inc., Google LLC, HERE Global BV, HPE Aruba Inc., IBM Corporation, Intel Corporation, Microsoft Corporation, Qualcomm Technologies Inc., TeleMapics LLC and others.
– February 2020 – Cisco Meraki launched Phunware location-based services in the Meraki Marketplace. The Meraki Marketplace now provides Phunware, an important channel to thousands of Cisco Meraki customers, across more than 100 countries worldwide, to suit the potential customers and existing clients need for LBS solutions for their network environments, without the risk of deploying unproven technology.
– October 2019 – Qualcomm Technologies Inc. collaborated with the Indian Space Research Organization (ISRO) to provide support for Indias Regional Navigation Satellite System (IRNSS), Navigation with Indian Constellation (NavIC), in select chipset platforms across the companys upcoming portfolio. The solution is built on Qualcomm Technologies leading foundational inventions in location-based position technology. As part of the updated platforms, the Qualcomm Location Suite supports up to seven satellite constellations concurrently, including the use of all NavICs operating satellites for more accurate location performance, faster time-to-first-fix (TTFF) position acquisition, and improved robustness of location-based services.
The proliferation of smartphone usage is driving the location-based services market. According to a report by the United Nations, nearly 41.5% of the total world population, as of 2019, were smartphone users.
– With advancements in technology, many industries are willing to adopt new systems, primarily to improve their transportation efficiency. With the advent of cloud and IoT systems, the enterprises now can automate most of their operations. The healthcare sector is also expected to witness a more significant number of applications. The growing IoT applications, devised with healthcare requirements, are expected to contribute to the growth of the market study for the healthcare vertical. For instance, Texas Health saved USD 412,000 using the real-time location-based system. Medical equipment is now easily located and maintained.
Regional Analysis For Location-based Services Market:
North America (The United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
FMCG and E-Commerce Sector Expected to Witness Significant Growth
– There is an increasing trend in e-commerce establishments since the past decade. Mobile apps have contributed to their greater success, due to personalization features. They are easier to use and form a direct link between brands and customers, thus, enabling high levels of consumer engagement.
– Mobile apps help e-commerce stores analyze the current market and consumer behavior, resulting in forming better market strategies. LBS is essential to popular ride-sharing apps, like Uber and Lyft, and navigation apps, like Waze and Google Maps. US-based Uber is the most popular carpooling app globally. It gets the request of the passenger rides based on the GPS location of the passengers. The app uses two-way LBS technology, so the driver knows where to pick up the user, and the user is able to see the live location of the driver on a map.
– Beyond food and restaurants, all the nations are witnessing a trend of location-based food delivery services. LBS has proved to be of utmost advantage for food delivery platforms, due to the introduction of GPS and mapping.
– Germany-based Foodpanda has partnered with Open Street Map and Google to use the customers geo-location. The company also uses geofencing to mark the restaurants geolocation and then mark about three to ten radius where the restaurant can deliver.
– To retain customers, restaurants are opting for online food ordering app development. Munchery is a US-based full-service delivery model, where customers can order food by looking at the image of the dish, list of ingredients, and the name of the chef who will prepare it. It has its own logistics facilities that use google maps to locate the position of the customer.
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Influence of the Location-based Services Market Report:
-Comprehensive assessment of all opportunities and risks in the Location-based Services market.
-The detailed study of business strategies for the growth of the Location-based Services market-leading players.
-Conclusive study about the growth plot of the Location-based Services market for forthcoming years.
-In-depth understanding of Location-based Services market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Location-based Services market.
What are the market factors that are explained in the report?
-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
-Analytical Tools: The Global Location-based Services Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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