According to Stratistics MRC, the Global Location-Based Services Market is accounted for $17.80 billion in 2020 and is expected to reach $72.06 billion by 2028 growing at a CAGR of 19.1% during the forecast period. Factors such as increasing number of smartphone users, increasing availability of spatial data and analytical tools are driving the growth of the market. However, privacy and security concerns are hampering the growth of the market.
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Based on the location, the outdoor segment is anticipated to expand at a rapid pace during the forecast period due to the rising demand to trace long-distance objects or people. By geography, North America is going to have high growth during the forecast period which can be attributed to the increasing industry standards and enhanced financial support from the governments of the region.
Some of the key players profiled in the Location-Based Services Market include Cisco Systems Inc., Google LLC, Ericsson Inc., Microsoft Corporation, IBM Corporation, Intel Corporation, Qualcomm Technologies Inc., ALE International, GL Communications Inc., DigitalGlobe Inc.(Maxar Technologies), Creativity Software Ltd., Teldio Corporation, IndoorAtlas Ltd, TeleMapics LLC, and HPE Aruba Inc.
Components Covered:
• Hardware
• Software
• Services
Locations Covered:
• Outdoor
• Indoor
Technologies Covered:
• Bluetooth Low Energy (BLE) Beacons
• Global Positioning System (GPS)/ Global Navigation Satellite System (GNSS)
• Observed Time Difference of Arrival (OTDOA)
• Enhanced Observed Time Difference of Arrival (E-OTD)
• Cell ID
• Wi-Fi
• Assisted Global Positioning System (A-GPS)
• Enhanced Global Positioning System (E-GPS)
Applications Covered:
• Emergency Services
• Location-Based Advertising/Promotion Services
• Social Networking, Gaming, & Entertainment
• Proximity Marketing
• Local Search & Information
• Mapping & Navigation
• Business Intelligence & Analytics
• Asset Tracking
• Fleet Management
End Users Covered:
• Banking, Financial Services, and Insurance(BFSI)
• Government, Defense and Public Utilities
• Transportation & Logistics
• Healthcare & Life Sciences
• Fast Moving Consumer Goods (FMCG), Retail, and E-Commerce
• Industrial Manufacturing
• Automotive
• Media and Entertainment
• Information Technology (IT) and Telecom
• Hospitality
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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