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.
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Upsurge 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 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, 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.
The location-based services market is segmented on the basis of component, technology, application, industry vertical, and region. By component, it is categorized into hardware, software, and services.
By technology, it is divided into GPS, Assisted GPS (A-GPS), Enhanced GPS (E-GPS), enhanced observed time difference, observed time difference, cell ID, Wi-Fi, and others. By application, it is classified into location-based advertising, business intelligence & analytics, fleet management, mapping and navigation, local search & information, social networking & entertainment, proximity marketing, asset tracking, and others.
By industry vertical, it is segmented into transportation & logistics, manufacturing, government & public utilities, retail, healthcare & life sciences, media & entertainment, IT & telecom, BFSI, hospitality, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA
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 upsurge in working population, spiraling technology hubs, and blooming tourism industry.
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The key players operating in the location-based services market analysis 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 played a significant role to boost the growth of the global location-based services market by adopting various development strategies such as business expansion, new product launches, and others.
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 MARKET SEGMENTS
• Assisted GPS (A-GPS)
• Enhanced GPS (E-GPS)
• Enhanced Observed Time Difference
• Observed Time Difference
• Cell ID
• Location-based Advertising
• Business Intelligence & Analytics
• Fleet Management
• Mapping and Navigation
• Local Search & Information
• Social Networking & Entertainment
• Proximity Marketing
• Asset Tracking
By Industry Vertical
• Transportation & Logistics
• Government & Public Utilities
• Healthcare & Life Sciences
• Media & Entertainment
• IT & Telecom
• North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
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o Latin America
o Middle East
Key Market Players
Ø Alcatel-Lucent SA
Ø Apple, Inc.
Ø AT&T Inc.
Ø Bharti Airtel, LTD.
Ø Cisco Systems, Inc.
Ø Google Inc.
Ø International Business Machines Corporation
Ø Microsoft Corporation
Ø Oracle Corporation
Ø Qualcomm Inc.