Location-Based Services and Real-Time Location Systems Market to Reach US$ 68.85 Billion Growing at CAGR 25.4% to 2023

The Global Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market is committed fulfilling the requirements of the clients by giving them thorough insights into the market. An exclusive data offered in this report is collected by research and industry experts team. (LBS) and (RTLS) market report spread across 186 pages, profiling 25 companies and supported with tables and figures is now available in this research report.

The Global Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market size is expected to grow from US$ 22.18 Billion in 2018 to US$ 68.85 Billion by 2023, at a CAGR of 25.4% during the forecast period. Get Here Free Sample Research Report at https://www.reportsnreports.com/contacts/requestsample.aspx?name=433263 .

Most Popular Companies in the Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market include are Cisco (US), Google (US), IBM (US), Microsoft (US), Oracle (US), TomTom (Netherlands), Apple (US), Esri (US), Ericsson (Sweden), Qualcomm (US), Zebra (US), Ubisense (UK), Pitney Bowes (US), Baidu (China), Foursquare (US), Centrak (US), Ekahau (US), Galigeo (France), HERE (Netherlands), Teldio (Canada), Navigine (US), Living Map (UK), infsoft (Germany), AiRISTA (Maryland), and Quuppa (Finland).

“Retail and E-Commerce vertical is expected to have the largest market share during the forecast period”
LBS and RTLS play a vital role in managing retail apps to offer an enhanced user experience. LBS and RTLS in retail improve the traditional way of understanding customer buying behavior and offer a digital platform for customers and sellers to interact and build trustworthy relationship. For instance, social networking platforms such as Facebook, Instagram, and WhatsApp have changed the shopping experience with the help of LBS and RTLS technologies, which make it easier to understand user interest and offer them the right product, advertisement, or campaign that influences the customer and improves the whole buying-selling experience.

“North America is expected to have the largest market size and APAC is projected to grow at the highest rate during the forecast period”
The High Market share of the North American region is due to the presence of a large number of LBS vendors in the US region. The region has also witnessed the proliferation of startups in LBS and RTLS market. Out of 340 startups analyzed, 79% startups are from the North American region. Furthermore, due to robust development in infrastructures in terms of smart cities, smart buildings, and smart transportation in the country, the US market for LBS and RTLS is expected to dominate the overall North American market.

Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period, which is attributed to the fact that it is witnessing a dynamic change in the adoption of LBS and RTLS across multiple verticals. Existence of a large population, developing technology, and high growth in countries such as China, India, Australia, Japan, Singapore, and Hong Kong are the major contributing factors for the growth of LBS and RTLS market, in this region.

Breakdown of primary participants’ profile:
• By Company: Tier 1:30 %, Tier 2:40%, and Tier 3:30%
• By Designation: C Level:72%, Director Level:14%, and Others: 14%
• By Region: North America:57%, Europe:14%, and APAC:29%

Report Highlights:
The Main Objective of the report is to define, describe, and forecast the Location-Based Services and Real-Time Location Systems market size based on components (software, services, and hardware), location types (outdoor and indoor), software (geocoding and reverse geocoding, location and predictive analytics, reporting and visualization, database management and spatial Extract, Transform, and Load (ETL), and risk analytics and threat prevention), services (deployment and integration, application support and maintenance, and consulting and advisory), verticals, and regions. The report provides detailed information on the major factors (drivers, restraints, opportunities, and challenges) influencing the market growth.

Target Audience for Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market: Location-Based Services and Real-Time Location Systems solution vendors, Location-Based Services and Real-Time Location Systems service providers, Value-added resellers, Security and intelligence service providers, Managed Service Providers (MSPs), Network and system integrators, IT operations tool and solution providers.

Competitive Landscape of Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market:
Overview
Competitive Scenario
New Product Launches/Upgradations
Mergers and Acquisitions
Partnerships, Agreements, and Collaborations

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