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Global Location-Based Services Market Projected to Grow from $23.74 Billion in 2018 to $157.34 Billion by 2026 - ResearchAndMarkets.com

March 3, 2020 GMT

DUBLIN--(BUSINESS WIRE)--Mar 3, 2020--

The “Location-based Services Market by Component, Application, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2019-2026” report has been added to ResearchAndMarkets.com’s offering.

According to this report, the location-based services market size was valued at $23.74 billion in 2018, and is projected to reach $157.34 billion by 2026, growing at a CAGR 27.1% from 2019 to 2026.

Location-Based Service (LBS) is an application used to identify location of a mobile or wireless device. location-based services are used to locate people, objects, and vehicle movements as well as for navigation, logistics, and inventory management. In addition, LBS works by accessing real-time geo-data points from a smartphone device to gain information, entertainment, or security data for further processing.

Upa surge in adoption of wireless devices such as tablets, smartphones, and handheld devices boosts the social networking platforms and provides new avenues for location-based marketing & advertising opportunities. Moreover, rise in demand for active check-in apps and an increase in use of business intelligence tools for fraud management & secure authentication further fuels the location-based services market growth. However, increased prices of real-time based LBS components and concerns associated with personal data security issues are some of the factors that hinder the growth of the location-based services market.

The adoption of LBS has increased across various verticals such as government & public utilities, media & entertainment, transportation, retail & e-commerce, healthcare, and others (education, BFSI, and healthcare). Proactive government initiatives to standardize defense technologies coupled with rapid urbanization & infrastructural developments in the emerging economies are expected to foster the market growth in the government & defense sector. Moreover, an increase in demand for location-based services among e-commerce companies, food delivery & shopping apps, tourism websites, social networking apps, and others are expected to propel the growth of the location-based services market at a significant rate.

North America is expected to dominate the global location-based services market during the forecast period, owing to the presence of large number of established LBS solution providers in the U.S. Canada, and Mexico. The Asia-Pacific market is expected to grow at a significant rate in the near future on account of the upa surge in working population, spiraling technology hubs, and blooming tourism industry.

KEY BENEFITS FOR STAKEHOLDERS

  • The study provides an in-depth analysis of the location-based services market trends to elucidate the imminent investment pockets.
  • Information about the key drivers, restraints, and opportunities and their impact analyses on the global location-based services market size is provided.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the global location-based services industry.
  • The quantitative analysis of the market from 2018 to 2026 is provided to determine the global location-based services market potential.

Key Findings of the Location-based Services Market:

  • By component, the hardware segment dominated the location-based services market share. However, the services segment is expected to exhibit significant growth during the location-based services market forecast period. The services segment growth is attributed to the growing demand for service-as-a-solution suite among industries opting for digitalized business and process operation.
  • By technology, the assisted GPS segment accounted for the highest revenue in 2018. The location-based services industry anticipates highest growth in terms of deploying assisted GPS solutions into smart devices such as smartphones.
  • By application, the mapping and navigation segment exhibited highest revenue in 2018 and is further expected to propel the location-based services market growth during the forecast period.
  • By industry vertical, the transportation & logistics industry generated the highest revenue in 2018. This is attributed to high demand for location-based services for applications such as fleet management, asset management, and others.
  • Region-wise, North America dominated, in terms of revenue in 2018, and Asia-Pacific is expected to witness significant growth, in terms of CAGR in the coming years.

Key Topics Covered:

Chapter 1: Introduction

1.1. Report Description

1.2. Key Benefits For Stakeholders

1.3. Key Market Segments

1.4. Research Methodology

Chapter 2: Executive Summary

2.1. Key Findings

2.2. Cxo Perspective

Chapter 3: Market Overview

3.1. Market Definition And Scope

3.2. Key Forces Shaping Global Location-Based Services Market

3.3. Value Chain

3.4. Case Studies

3.5. Market Dynamics

3.6. Industry Roadmap of Location-Based Services

3.7. Patent Analysis

Chapter 4: Global Location-Based Services Market, By Component

4.1. Overview

4.2. Hardware

4.3. Software

4.4. Services

Chapter 5: Global Location-Based Services Market, By Technology

5.1. Overview

5.2. Gps

5.3. Assisted Gps

5.4. Enhanced Gps

5.5. Enhanced Observed Time Difference

5.6. Observed Time Difference

5.7. Cell Id

5.8. Wi-Fi

5.9. Others

Chapter 6: Global Smart Space Market, By Application

6.1. Overview

6.2. Location-Based Advertising

6.3. Business Intelligence & Analytics

6.4. Fleet Management

6.5. Mapping And Navigation

6.6. Local Search & Information

6.7. Social Networking & Entertainment

6.8. Proximity Marketing

6.9. Asset Tracking

6.10. Others

Chapter 7: Global Location-Based Services Market, By Industry Vertical

7.1. Overview

7.2. Transportation & Logistics

7.3. Manufacturing

7.4. Government & Public Utilities

7.5. Retail

7.6. Healthcare & Life Sciences

7.7. Media & Entertainment

7.8. It & Telecom

7.9. Bfsi

7.10. Hospitality

7.11. Others

Chapter 8: Global Location-Based Services Market, By Region

8.1. Overview

8.2. North America

8.3. Europe

8.4. Asia-Pacific

8.5. LAMEA

Chapter 9: Competitive Landscape

9.1. Competitive Dashboard

Chapter 10: Company Profile

10.1. Ale International

10.2. Apple Inc.

10.3. At&T Inc.

10.4. Bharti Airtel Limited

10.5. Cisco Systems, Inc.

10.6. Google Llc

10.7. Here

10.8. International Business Machines Corporation

10.9. Microsoft Corporation

10.10. Oracle Corporation

10.11. Qualcomm Technologies, Inc.

For more information about this report visit https://www.researchandmarkets.com/r/37vhxt

View source version on businesswire.com:https://www.businesswire.com/news/home/20200303005467/en/

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INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY

SOURCE: Research and Markets

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PUB: 03/03/2020 05:39 AM/DISC: 03/03/2020 05:39 AM

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