Location-Based Services (LBS) Market Report 2023, Size, Share And forecast Till 2028
IMARC Group has recently released a new research study “Location-Based Services (LBS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What Are The Growth Prospects Of The Location-Based Services (LBS) Industry?
The global location-based services (lbs) market size reached US$ 33.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 99.5 Billion by 2028, exhibiting a growth rate (CAGR) of 18.9% during 2023-2028.
What Is A Location-Based Services (LBS)?
Location-based service (LBS) generally relies on information and communication technologies, geospatial technologies, and the internet to provide targeted information to individuals based on their geographic location in real time. It can be utilized via cell identity (ID), mobile phone networks, and global positioning system (GPS) satellites to pinpoint the location of the base transceiver station. LBS offers various advantages, such as real-time delivery tracking of products, accurate weather updates and forecasts, monitoring workout activities of users to calculate the required information, etc. Consequently, it finds wide-ranging applications in numerous sectors, including retail, healthcare, information technology (IT), telecommunications, transportation, etc.
Request For Sample Report: https://www.imarcgroup.com/Location-Based Services (LBS)-market/requestsample
What Are The Key Driving Factors In The Location-Based Services (LBS) Market?
The widespread adoption of this solution to locate the nearest restaurants, friends, and advertising deals to shoppers in the nearby area is primarily driving the location-based service (LBS) market. Additionally, it is gaining extensive traction among businesses to offer dynamic user experience and a convenient method for interacting with customers, which is further catalyzing the market growth. Besides this, the launch of various favorable policies by government bodies for promoting the use of LBS to achieve smooth transportation goals as a part of their smart city projects is acting as another significant growth-inducing factor. Moreover, the increasing investments in R&D activities to introduce 3D map applications with smartphones are positively influencing the global market. Apart from this, the inflating popularity of location-based services in the e-commerce industry is also stimulating the market growth. Furthermore, the introduction of technological advancements, such as enhanced observed time difference (E-OTD), global cell identity (CGICTA), and a combination of mobile positioning and satellite-based global positioning system (GPS), is expected to fuel the location-based service (LBS) market over the forecasted period.
Who Are The Key Players/Companies In The Location-Based Services (LBS) Market?
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.
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 (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
Ask An Analyst: https://www.imarcgroup.com/request?type=report&id=5851&flag=C
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us:
IMARC Services Private Limited.
30 N Gould St Ste R
Sheridan, WY 82801 USA – Wyoming
Email: Sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
Americas:- +1 631 791 1145 |
Africa and Europe :- +44-702-409-7331 |
Asia: +91-120-433-0800, +91-120-433-0800
