Location-Based Services (LBS) Market

Introduction of the Location-Based Services (LBS) Market Report

Location-based services (LBS) can be defined as the technology that provide information based on the geographic location of the device and the user in real or near-real time, through wireless communication networks and mobile portable devices such as portable computers, personal digital assistants, mobile phones, and in-vehicle navigation systems.

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Market Dynamic

Key Drivers and Emerging Trends

Rapid increase in the adoption of smartphones and location-aware technologies such as GPS, assisted GPS (A-GPS), Wi-Fi, Enhanced Observed Time Difference (E-OTD), and RFID are some of the major factors expected to boost the growth of the location based services market. Additionally, the growing applications of cloud computing and IoT systems and rising demand for location-based application in several industries including tourism, food delivery, e-commerce, and transportation for applications such as store locator, travel information, delivery tracking, mobile workforce management, fraud prevention, and vehicle tracking is further anticipated to support the growth of LBS markets. Moreover, according to the World Bank, in 2018, 51% of the global population has used internet connection, and the number of mobile cellular subscription has increased from 7.9 billion in 2018 to 8.2 billion in 2019. This is expected to augment the growth of the location-based services market size over the forecast period.

Restraint in the Location-Based Services (LBS) Market

However, increasing concerns of users regarding data security and personal privacy is expected restraint the market growth of Location-Based Services (LBS) market. Moreover, lack of awareness, users must opt-in to share their location and lack of accuracy may further hamper the market growth.

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Component – Segment Analysis

Based on component, the hardware segment is projected to account for a prominent market share during the forecast period owing high penetration of mobile devices including smartphones, laptops, and tablets, increase in usage of 3G & 4G networks and the availability of low-priced GPS components and sensors. According to the GSM Association, around 72% of the global population will be connected to a mobile network by 2020 which further augmenting the growth of the smartphones industry, thereby contributing to the market growth.

Location Type – Segment Analysis

Based on location type, the outdoor location type segment is expected to hold a major share in the market. This can be attributed to wide range of application of outdoor LBS that includes, asset tracking, personnel tracking, customer location tracking, geo-marketing, real time advertising, fleet tracking, freight management, route planning, mapping, and defence management

Application – Segment Analysis

Based on application, navigation services is anticipated to hold a prominent share in the market primarily due to the increasing application of LBS in indoor navigation in large facilities such as healthcare centres, educational campuses, corporate offices, airports, shopping malls, recreational spaces, and zoo parks among others. Increasing penetration of GPS-enabled smartphones and vehicles is further supporting the demand for LBS in navigation application market.

Vertical – Segment Analysis

Based on the vertical, the retail segment is anticipated to witness huge growth over the forecast period owing to the increasing use of location-based services for asset tracking, indoor space management, location tracking, and indoor wayfinding in the shopping centres and malls. Increasing use of beacon, visual light technology, and interactive maps, rising popularity of push marketing and real-time offers on mobile phones of customers is stimulating the market growth.

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Regional – Segment Analysis:

Based on region, North America is expected to account for a major share in the LBS market share owing to the huge number of smartphone users, development in communication technology, and high demand of LBS in the healthcare sector, manufacturing, retail, defence, and transportation sectors in the region. Moreover, presence of some of the leading players including Cisco Systems, Inc., International Business Machines Corporation, Alphabet Inc., and Microsoft Corporation is further escalating the market growth in the region.

Top Market Players

Several Leading players operating in the market, include, Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Maxar Technologies, International Business Machines Corporation, Hewlett Packard Enterprise Development LP, Alphabet Inc., Microsoft Corporation, Oracle Corporation, TomTom International BV, and Here Technologies among others. 

Key Developments:

• • In 2020, Cisco Meraki, owned by Cisco Systems, Inc. launched Phunware Multiscreen-as-a-Service (MaaS) location-based services (LBS) in the Meraki Marketplace. The Phunware MaaS LBS app portfolio includes indoor routing and navigation, real-time notifications for route modifications, and location sharing.

Segments covered in the Report:

The global Location-Based Services (LBS) Market has been segmented on the basis of component, location type, application, end-user, and key regions. Based on component, the market is segmented into hardware, software, and services. Based on the location type, the market is segmented into indoor and outdoor. Based on the application, the market is segmented into emergency services, tracking services, navigation services, social media services, information services, entertainment services, advertising services, and others. Based on the end-user, the market is segmented into BFSI, IT and telecommunication, retail, transportation and logistics, government, healthcare, manufacturing, and others. 

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Key questions answered in this research report:

• • At what pace is global Location-Based Services (LBS) Market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Location-Based Services (LBS) Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Location-Based Services (LBS) Market?
  • Which application generated maximum revenues in 2019 and identify the most promising application during the forecast period?
  • What are the various end-users of global Location-Based Services (LBS) Market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Component, By Location Type, By Application, By End-User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Maxar Technologies, International Business Machines Corporation, Hewlett Packard Enterprise Development LP, Alphabet Inc., Microsoft Corporation, Oracle Corporation, TomTom International BV, and Here Technologies, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Location-Based Services (LBS) Market by Component

• • Hardware
  • Software
  • Services
  • Deployment and Integration
  • Support and Maintenance
  • Consulting and Training

Global Location-Based Services (LBS) Market by Location Type

• • Indoor
  • Outdoor

Global Location-Based Services (LBS) Market by Application

• • Emergency Services
  • Tracking Services
  • Navigation Services
  • Social Media Services
  • Information Services
  • Entertainment Services
  • Advertising Services
  • Others

Global Location-Based Services (LBS) Market by End-User

• • BFSI
  • IT and Telecommunication
  • Retail
  • Transportation and Logistics
  • Government
  • Healthcare
  • Manufacturing
  • Others

Global Location-Based Services (LBS) Market by Region

• • North America Location-Based Services (LBS) Market (Option 1: As a part of the free 25% customization)

    • North America Location-Based Services (LBS) Market by Component
    • North America Location-Based Services (LBS) Market by Location Type
    • North America Location-Based Services (LBS) Market by Application
    • North America Location-Based Services (LBS) Market by End-User
    • US Location-Based Services (LBS) Market All-Up
    • Canada Location-Based Services (LBS) Market All-Up

  • Europe Location-Based Services (LBS) Market (Option 2: As a part of the free 25% customization)

    • Europe Location-Based Services (LBS) Market by Component
    • Europe Location-Based Services (LBS) Market by Location Type
    • Europe Location-Based Services (LBS) Market by Application
    • Europe Location-Based Services (LBS) Market by End-User
    • UK Location-Based Services (LBS) Market All-Up
    • Germany Location-Based Services (LBS) Market All-Up
    • France Location-Based Services (LBS) Market All-Up
    • Spain Location-Based Services (LBS) Market All-Up
    • Rest of Europe Location-Based Services (LBS) Market All-Up

  • Asia-Pacific Location-Based Services (LBS) Market (Option 3: As a part of the free 25% customization)

    • Asia-Pacific Location-Based Services (LBS) Market by Component
    • Asia-Pacific Location-Based Services (LBS) Market by Location Type
    • Asia-Pacific Location-Based Services (LBS) Market by Application
    • Asia-Pacific Location-Based Services (LBS) Market by End-User
    • China Location-Based Services (LBS) Market All-Up
    • India Location-Based Services (LBS) Market All-Up
    • Japan Location-Based Services (LBS) Market All-Up
    • Rest of APAC Location-Based Services (LBS) Market All-Up

  • RoW Location-Based Services (LBS) Market (Option 4: As a part of the free 25% customization)

    • RoW Location-Based Services (LBS) Market by Component
    • RoW Location-Based Services (LBS) Market by Location Type
    • RoW Location-Based Services (LBS) Market by Application
    • RoW Location-Based Services (LBS) Market by End-User
    • Brazil Location-Based Services (LBS) Market All-Up
    • South Africa Location-Based Services (LBS) Market All-Up
    • Saudi Arabia Location-Based Services (LBS) Market All-Up
    • UAE Location-Based Services (LBS) Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Location-Based Services (LBS) Market All-Up

Major Players Operating in the Location-Based Services (LBS) Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Cisco Systems, Inc.
  • Telefonaktiebolaget LM Ericsson
  • Maxar Technologies
  • International Business Machines Corporation
  • Hewlett Packard Enterprise Development LP
  • Alphabet Inc.
  • Microsoft Corporation
  • Oracle Corporation
  • TomTom International BV.
  • Here Technologies