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Location Based Services Market Top players - Alcatel-Lucent, Apple Inc., AT&T Inc., | At a CAGR of 24.3%

02-08-2023 04:56 AM CET | IT, New Media & Software

Press release from: Allied Market Research

Location Based Services Market

Location Based Services Market

Diversified range of applications, rise in demand for location-based services, increase in demand for smartphones, and rapid development of business analytics solutions drive the market growth.

On the other hand, high cost of real-time LBS and operational challenges hinder the global location-based services market. On the contrary, technological developments and new applications that demand LBS solutions create opportunities for market players in the future.

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According to the report published by Allied Market Research, the global location-based services market generated $36.35 billion in 2020, and is projected to reach $318.64 billion in 2030, exhibiting a CAGR of 24.3% during the forecast period. The report offers an in-depth analysis of the market size, emerging and current trends, future estimations, and key players.

Based on the component, the hardware segment accounted for the largest market share in 2020, contributing to more than two-fifths of the total share. The services segment is estimated to witness the fastest CAGR of 26.9% from 2021 to 2030.

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Based on technology, the Assisted GPS (A-GPS) segment contributed to the highest market share in 2020, contributing to nearly one-fifth of the total market share, and is anticipated to dominate the market during the forecast period.

The same segment is expected to manifest the fastest CAGR of 26.6% from 2021-2030. The report also covers other segments such as enhanced GPS (E-GPS), enhanced observed time difference (E-OTD), observed time difference, cell ID, Wi-Fi, and others.

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Based on region, North America contributed to the highest share in 2020, holding more than two-fifths of the total share, and is expected to maintain dominance throughout the forecast period. The Asia-Pacific region is expected to portray the fastest CAGR of 27.0% from 2021-2030.

Key players of the global location-based services industry analyzed in the research include Alcatel-Lucent, Apple Inc., Google LLC, AT&T Inc., Microsoft Corporation, Bharti Airtel Limited, Oracle Corporation, Cisco Systems, Inc., HERE, Qualcomm Technologies, Inc., and International Business Machines Corporation.

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Thanks for reading this article; you can also get individual chapter-wise sections or region-wise report versions like North America, Europe, or Asia.

If you have any special requirements, please let us know and we will offer you the report as per your requirements.

Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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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 in making strategic business decisions and achieving sustainable growth in their respective market domains.

AMR launched its user-based online library of reports and company profiles, Avenue. An e-access library is accessible from any device, anywhere, and at any time for entrepreneurs, stakeholders, researchers, and students at universities. With reports on more than 60,000 niche markets with data comprising of 600,000 pages along with company profiles on more than 12,000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.

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