Location-Based Services Market Growth Archives

Location Based Services Market Growth 2023, Global Industry Trends, Demand, Challenges, Future Opportunities and Forecast 2033: SPER Market Research

admin September 21, 2023 Business, IT Industry

Location based services use devices such as mobile phones and GPS systems to deliver real-time maps, navigation, and directions, transforming how people explore unfamiliar areas. LBS also enables businesses to give location-based advertisements and promotions to users, increasing engagement and conversions. Location-based social networking systems connect individuals with similar interests or who live nearby, enabling for in-person interactions and community building.

According to SPER market research, ‘Location Based Service Market Size- By Component, By Technology, By Application, By Industry Vertical- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Location Based Service Market is predicted to reach USD 407.87 billion by 2033 with a CAGR of 22.4%.

The expansion of the location-based service (LBS) market can be attributed to a number of major factors. First of all, the widespread use of smartphones and other mobile devices with GPS has made it possible for people to easily access location-specific services. Second, the increased need for personalized information has fueled the expansion of LBS, as customers want personalized advice and services based on their specific location and preferences.

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Privacy and data security, legal compliance, location data accuracy, network infrastructure, interoperability, and user adoption are significant challenges for the worldwide location-based service (LBS) business. Maintaining user trust requires protecting user privacy and ensuring explicit data management practices. LBS providers must navigate several legal frameworks and comply with data protection rules in multiple jurisdictions. It is vital for optimal user experiences to assure the accuracy and dependability of location data, especially in densely populated urban areas. Furthermore, low network coverage in rural areas may make real-time access to LBS challenging.

Impact of COVID-19 on Global Location Based Service Market

On the location-based service (LBS) market, the COVID-19 pandemic had a conflicting effect. Vendors of LBS that depend on in-store advertising and navigation services faced difficulties due to actual losses in foot traffic and business closures during lockdowns. However, as people grew accustomed to social isolation and remote work, there was an increased need for contactless services. Applications that use location-based services (LBS) have become more popular for assisting with online shopping and delivery services. The outbreak also demonstrated the importance of real-time data in public health and safety.

Location Based Service Market Key Players:

Furthermore, the location-based service market differs greatly by region due to a combination of technological, regulatory, and economic variables. North America and Europe remain essential participants, but the Asia-Pacific region is developing as a major growth engine. Additionally, some of the market key players are Alcatel-Lucent, Apple Inc., AT&T Inc., Bharti Airtel Limited, Cisco Systems, Inc., Google Limited Liability Company (LLC), HERE, International Business Machines Corporation.

Global Location Based Service Market Segmentation:

By Component: Based on the Component, Global Location Based Service Market is segmented as; Hardware, Software and Service.

By Technology: Based on the Technology, Global Location Based Service Market is segmented as; Assisted GPS (A-GPS), Cell ID, Enhanced Observed Time Difference, Global Positioning System (GPS), Wi-Fi, Others.

By Application: Based on the Application, Global Location Based Service Market is segmented as; Local Search & Information, Location-Based Advertising, Mapping and Navigation, Proximity Marketing.

By Industry Vertical: Based on the End User, Global Location Based Service Market is segmented as; Government & Public Utilities, Healthcare & Life Sciences, Hospitality, Manufacturing, Media & Entertainment, Transportation & Logistics.

By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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Location Based Service Market Future Outlook

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Location Based Services Market Growth 2023, Revenue, Size, Upcoming Trends, Scope, Key Factors, business Challenges and Future Share 2032: SPER Market Research

admin June 2, 2023 Business

The global location-based services industry is being propelled by the growing penetration of 3G and 4G networks, as well as the extensive enlargement of internet amenities. The requirement for location-based services is being fostered by the growing requirement for improved business analytics tools. Moreover, the gradual inclusion of technological developments likewise artificial intelligence, and machine learning technology is also underwriting to the market growth. The initiation of digitalization fosters the requirement for location-based services (LBS), due to its capability to propose personalized marketing strategy solutions, which in turn generates new revenue growth opportunities for the players opting for these solutions.

According to the SPER market research, ‘Location Based Services Market Size- By Component, By Technology, By Application, By Industry Vertical- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ state that the global location based services market is anticipated to reach USD 506.07 billion by 2032 with a CAGR of 24.54%.

The growing enlargement is projected to be propelled by growing smartphone usage, social media usage, and the admittance of GPS technology. As they can deliver and appraise real-time geo-data, location-based services raise the requirement for an analytical solution. For instance, businesses can plan their marketing campaigns reliant on client location data for the nearest store or proposes that are special to a carried location. Retailers will probably benefit from these new and developed revenue growth opportunities, which will in turn assist the location-based services market augment during the course of the reviewed duration.

Augment in acceptance of social media & smart phones, convenient accessibility of GPS, and emergence of location-based technology is fostering the growth of the global location-based services market. Moreover, the augment in number of smartphone users and internet admittance positively impact the growth of the location-based services market. The rising penetration of 3G and 4G networks and unremitting augment in the number of internet users are predicted to promise remunerative opportunities for enlargement of location-based services market throughout the review duration.

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The augmented penetration of tablet and smartphone is a crucial driver in the growth of the location-based services. Meanwhile, the augmented requirement for e-commerce mobile applications and the accessibility of low-cost smartphones are penetrating the market enlargement. In addition, the increment in requirement for wearable devices and apps and the prevalence of social networking are also predicted to create the growth opportunities for the location-based services industry during the review duration.

Furthermore, the growing number of mobile devices and growing trend of navigation & map-based visualization are introducing potential choices for the growth of the location-based services market. Augment in the mobility of people is also one of the foremost aspects propelling the growth of the location-based services market.

North America is predicted to be a great market for location-based services owing to the early implementation of digital technologies and the existence of different location-based service vendor around the region.

Location Based Services Market Key Players:

The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Alcatel-Lucent, Apple Inc., AT&T Inc., Bharti Airtel Limited, Cisco Systems, Inc., Google Limited Liability Company (LLC), HERE, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Qualcomm Technologies, Inc.

Global Location Based Services Market Segmentation:

By Component: Based on the Component, Global Location Based Services Market is segmented as; Hardware, Software and Service.

By Technology: Based on the Technology, Global Location Based Services Market is segmented as; Global Positioning System (GPS), Assisted GPS (A-GPS), Enhanced GPS (E-GPS), Enhanced Observed Time Difference, Observed Time Difference, Cell Id, Wi-Fi, And Others.

By Application: Based on the Application, Global Location Based Services Market is segmented as; 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: Based on the Industry Vertical, Global Location Based Services Market is segmented as; Transportation & Logistics, Manufacturing, Government & Public Utilities, Retail, Healthcare & Life Sciences, Media & Entertainment, IT & Telecom, BFSI, Hospitality, And Others

By Region: Due to the rising acceptance of user-friendly LBS solutions and considerable investment in the defence, retail, military, and public transit sectors, LBS is predicted to hold a sizable market share in nations like India, China, Singapore, and others. The market is fuelled by an increase in the number of sectors, including manufacturing, construction, real estate, tourism, and others; increased smartphone adoption; location-enhanced marketing; and integration of location-based search with social networking websites, which is anticipated to create lucrative opportunities for location-based services during the forecast period.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

For More Information, refer to below link: –

Location Based Services Market Growth

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Location-Based Services Market Revenue and Size 2023- Research by Competitive Analysis, Growing CAGR of 24.54%, Upcoming Trends and Future Share 2032: SPER Market Research

admin February 8, 2023 Business, IT Industry, News

According to SPER Market Research, Users can access location-specific information and other internet services through a class of services known as a location-based service (LBS). Asset tracking, proximity marketing, local search and information, social networking and entertainment, mapping, and navigation are some of these features. Location-based services give information, entertainment, or security by using real-time geo-data from a variety of smart devices, including smartphones. One of the key factors propelling the growth of the location-based services market is the pervasive use of smart devices like sensors, IoT, and others. Businesses frequently give out prizes, vouchers, or discounts to patrons who check in at their establishments. Location-based services may be able to track a person’s whereabouts using the GPS capabilities of a smartphone with the user’s consent.

Location-Based Services Market Overview:

Forecast CAGR (2022-2032): 24.54%
Forecast Market Size (2032): 506.07 billion

Location-based services are projected to assist governments in addressing the consequences of social exclusion and make it simpler to track people’s movements and traffic patterns with the implementation of COVID-19. This is a result of the use of location information gathered from consumer electronics. This location data is only gathered by devices that have been given permission to collect data. It is anticipated that more location-based services would be used to predict the next COVID-19 hotspot and manage the deployment of healthcare resources accordingly. After the COVID-19 outbreak, developments and upgrades in location-based services with attributes including real-time tracking, location-based marketing, geotagging, and augmented reality have further aided the market’s growth.

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Location-Based Services Market Key Players:

The market study provides market data by the competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Alcatel-Lucent, Apple Inc., AT&T Inc., Bharti Airtel Limited, Cisco Systems, Inc., Google Limited Liability Company (LLC), HERE, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Qualcomm Technologies, Inc.

Global Location-Based Services Market Segmentation:

By Component: Based on the Component, Global Location Based Services Market is segmented as; Hardware, Software and Service.

By Technology: Based on the Technology, Global Location Based Services Market is segmented as; Global Positioning System (GPS), Assisted GPS (A-GPS), Enhanced GPS (E-GPS), Enhanced Observed Time Difference, Observed Time Difference, Cell Id, Wi-Fi, And Others.

By Application: Based on the Application, Global Location Based Services Market is segmented as; 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: Based on the Industry Vertical, Global Location Based Services Market is segmented as; Transportation & Logistics, Manufacturing, Government & Public Utilities, Retail, Healthcare & Life Sciences, Media & Entertainment, IT & Telecom, BFSI, Hospitality, And Others.

By Region: Due to the rising acceptance of user-friendly LBS solutions and considerable investment in the defence, retail, military, and public transit sectors, LBS is predicted to hold a sizable market share in nations like India, China, Singapore, and others. The market is fuelled by an increase in the number of sectors, including manufacturing, construction, real estate, tourism, and others; increased smartphone adoption; location-enhanced marketing; and integration of location-based search with social networking websites, which is anticipated to create lucrative opportunities for location-based services during the forecast period.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

For More Information, refer to below link: - 

Location-Based Services (LBS) Market Size

Decision Intelligence Market Size- By Component, By Solutions, By Services, By Deployment Type, By Organization Size, By Application, By End User- Regional Outlook, Competitive Strategies, and Segment Forecast to 2032

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