Location-Based Services (LBS) Market 2022-27: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast

 

The latest research study “Location-Based Services (LBS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the Global Location-Based Services (LBS) Market size reached US$ 27.28 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 96.85 Billion by 2027 exhibiting a CAGR of 21.30%during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Industry Definition and Application:

Location-based service (LBS) depends on geospatial technologies, communication technologies, information, and the internet to provide information to individuals based on real time location. It is utilized through cell identity (ID), mobile phone networks, and global positioning system (GPS) satellites to identify the location of the base transceiver station, person, or place. It offers real-time delivery, product tracking, accurate weather updates and forecasts, and monitors workout activities. Owing to these properties, LBS finds extensive applications across retail, healthcare, information and technology (IT), telecommunication, and transportation sectors

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Location-Based Services (LBS) Market Trends and Drivers: 

The market is primarily driven by the increasing utilization of smartphones and other wireless devices to locate places such as restaurants, hospitals, bakeries, medicals, universities, stations, and advertising deals in the nearby area.

In addition, there has been escalating demand for LBS among businesses to offer an active user experience and a suitable method for interacting with customers. Besides this, various technological advancements, such as the development of enhanced observed time difference (E-OTD), a combination of mobile positioning and satellite-based global positioning system (GPS), and global cell identity (CGICTA), are creating a positive market outlook.

Furthermore, the implementation of various initiatives by governments of numerous countries to encourage the usage of LBS and enable smooth transportation in smart city projects and the rising product adoption in the e-commerce industry are also augmenting the market growth.

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Location-Based Services (LBS) Market Report Scope
Report Coverage	Details
Market size value in 2021	US$ 27.28 Billion
Market forecast in 2027	US$ 96.85 Billion
Growth Rate	CAGR of 21.30% from 2022 to 2027
Base year for estimation	2021
Historical data	2016-2021
Forecast period	2022-2027
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Component, Technology, Location Type, Application and End User
Regional scope	North America, Europe, Asia-Pacific, Latin America, Middle East and Africa
Key companies profiled	ALE International SAS (China Huaxin Post and Telecom Technologies Co., Limited), Apple Inc., Creativity Software Ltd (SS8 Networks Inc.), Esri India Technologies Private Limited, GL Communications Inc., Google LLC (Alphabet Inc.), HERE Technologies, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Qualcomm Incorporated, Teldio Corporation and Zebra Technologies Corporation.
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

 

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Component:

·      Hardware

·      Software

·      Services
 

Breakup by Technology:

·      GPS

·      Assisted GPS (A-GPS)

·      Enhanced GPS (E-GPS)

·      Enhanced Observed Time Difference (E-OTD)

·      Observed Time Difference

·      Cell ID

·      Wi-Fi

·      Others
 

Breakup by Location Type:

·      Indoor

·      Outdoor
 

Breakup by Application:

·      Emergency Services

·      Tracking Services

·      Navigation Services

·      Social Media Services

·      Information Services

·      Gaming and Entertainment Services

·      Advertising and Promotion Services

·      Others
 

Breakup by End User:

·      Banking, Financial Services, and Insurance (BFSI)

·      IT and Telecom

·      Retail

·      Transportation and Logistics

·      Government

·      Healthcare and Life Services

·      Manufacturing

·      Others

By Geography:

·      North America

o   United States

o   Canada

·      Asia-Pacific

o   China

o   Japan

o   India

o   South Korea

o   Australia

o   Indonesia

o   Others

·      Europe

o   Germany

o   France

o   United Kingdom

o   Italy

o   Spain

o   Russia

o   Others

·      Latin America

o   Brazil

o   Mexico

o   Others

·      Middle East and Africa

 

List of Major Key Players:

The major players in the market are ALE International SAS (China Huaxin Post and Telecom Technologies Co., Limited), Apple Inc., Creativity Software Ltd (SS8 Networks Inc.), Esri India Technologies Private Limited, GL Communications Inc., Google LLC (Alphabet Inc.), HERE Technologies, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Qualcomm Incorporated, Teldio Corporation and Zebra Technologies Corporation.

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