Location-based Services Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 | Key players - Alcatel-Lucent SA, Apple, Inc., AT&T Inc., Bharti Airtel, LTD., Cisco Systems, Inc., Google Inc., HERE, IBM, Microsoft Corporation, Oracle Corpo

Major factors expected to drive the growth of the LBS and RTLS market include various applications of geospatial data; growing demand for LBS and RTLS for industry applications; proliferation of social media, smartphones, and location-based apps among consumers; and growing demand for geomarketing.

Rise in demand for location-based services and smartphones, rapid proliferation of business analytics solutions, and diversified scope of applications drive the growth of the global location-based services market. However, high cost of real-time-based LBS and operational challenges hamper the market. On the contrary, newer applications requiring LBS solutions and technological advancements are expected to create lucrative opportunities for the market players in the future.

Download Report Sample (150 Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/238

North America dominated the location-based services market in 2019. This is attributed to presence of well-developed IT infrastructure in the region and high number of early adopters of emerging technology such as location analytics coupled with IoT devices. However, Asia-Pacific is projected to exhibit the highest CAGR during the forecast period, owing to the advent of digitalization and rise in number of smartphone users.

The global location-based services market generated $28.95 billion in 2019, and is expected to reach $183.81 billion by 2027, growing at a CAGR of 26.3% from 2020 to 2027.

By region, the market across North America held the largest share in 2019, accounting for more than two-fifths of the market, owing to high presence of market players in the region. However, the global location-based services market across Asia-Pacific region is anticipated to portray the highest CAGR of 30.0% from 2020 to 2027. This is due to strong penetration of location-based services into smart devices and deployments in various industries construction, manufacturing, real-estate, and tourism.

For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/238

Some of the key market players profiled in the report include Alcatel-Lucent SA, Apple, Inc., AT&T Inc., Bharti Airtel, LTD., Cisco Systems, Inc., Google Inc., HERE, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, and Qualcomm Inc. These players have adopted various development strategies such as product launch and product development to stay competitive in the market. This study includes location-based services market analysis, trends, and future estimations to determine the imminent investment pockets.

By transportation & logistics segment held the largest share in 2019, contributing to around 14% of the global location-based services market, due to rise in deployment of location-based application such as GPS in vehicles. However, the retail segment is expected to manifest the highest CAGR of 29.7% during the forecast period, owing to increase in strategic marketing planning based on consumers locations.

Get detailed COVID-19 impact analysis on the location-based services market: https://www.alliedmarketresearch.com/request-for-customization/238

By application, the location-based advertising segment is expected to register the highest CAGR of 30.4% during the forecast period, owing to its functionalities such as close proximity advertising. However, the mapping and navigation segment dominated in 2019, accounting for nearly one-fifths of the global location-based services market, due to proliferation of maps and navigational application in smart and IoT devices.

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn Twitter

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP, based in Portland, Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.

This release was published on openPR.