Location-Based Services (LBS) And Real Time Location Systems (RTLS) Market to Observe Utmost USD 2,076.02 million at a CAGR of 8.6% by 2031, Size, Share, Demand, Key Drivers, Development Trends and Competitive Outlook

An important Location-Based Services (LBS) And Real Time Location Systems (RTLS) Market research report is produced by taking into account every requirement that organizations need to meet in order to expand successfully. This market report forecasts the market size based on data on major retailer sales, industry growth by upstream and downstream factors, industry advancement, major players, market segments, and application. When creating the reliable Location-Based Services (LBS) And Real Time Location Systems (RTLS) Market study, the goals of the marketing research are taken into consideration. A market segmentation analysis is conducted taking into account the currencies, pricing, years taken into consideration, geographic scope, and markets covered.

Explore Further Details about This Research Location-Based Services (LBS) And Real Time Location Systems (RTLS) Market Report https://www.databridgemarketresearch.com/reports/global-location-based-services-lbs-real-time-location-systems-rtls-market

The rise in the use of location-based mobile advertising is a crucial factor accelerating the market growth, as the rise in the use of social media marketing, the rise in the use of services in various industrial verticals, and the rise in research and development activities in the market act as the major factors among others boosting the market. Moreover, the rise in technological advancements and modernization in production techniques and the rise in demand from emerging economies will further create new opportunities for the market.

Data Bridge Market Research analyzes that the global location-based services (LBS) and real-time location systems (RTLS) market is expected to reach USD 2,076.02 million by 2031 from USD 275.81 Million in 2023 and is expected to undergo a CAGR of 8.6% during the forecast period of 2024 to 2031. "Satellite" dominates the components segment of the market due to demand from growing markets. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Location-based services (LBS) is defined as a service that takes into the account the geographical location of the user to provide information. It is extensively used in the directions, local news, point of interest, asset tracking among others. Real time location system (RTLS) is referred to the use of electronic system to locate people or things and is extensively used in tracking fleets of vehicles, complex navigation services, asset tracking as well as personal tracking.

Driver

Growing demand for LBS and RTLS for industry applications

The development of platforms that offer improved accuracy is the result of the improvements in LBS and RILS technologies during the past ten years. better effectiveness and reduced prices for RTLS goods and services. The usage of RTLS increased across a number of verticals, including healthcare, industrial manufacturing, logistics, process industries (mining, oil and gas), and defense as a result of all these advancements. The benefits of tracking, monitoring, and analysing the precise location and movements of their assets are now being recognized by more sectors. These advantages include improved workflow, simpler processes, and higher production.

Opportunity

Focus on lot in healthcare

The use of loT solutions powered by technologies like RFID tags, GPS, and RTLS is gaining traction due to a number of factors. widespread use of IP networks. decreasing equipment costs and fresh business prospects all help to fuel the growing demand for loT solutions. These tools assist in tracking physical assets to enhance corporate operations and cut costs in a variety of sectors and government agencies. In general, the term "loT" is used to refer to any technology that enables networked devices to share data and carry out tasks on their own, without the need for human intervention. The adoption of lot has been among the fastest in the healthcare sector.

Global Location-Based Services (LBS) And Real Time Location Systems (RTLS) Market Scope

The location-based services (LBS) And real time location systems (RTLS) market is segmented on the basis of technology, component, location type, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Technology

Satellite
Microwave & Infrared Remote Sensing
OTDOA & E-OTD
RFID & NFC
Context-Aware Technology
Wi-Fi/WLAN
UWB
BT/BLE
Beacons
A-GPS
Others

Component

Software
Services
Hardware

Location Type

Outdoor
Indoor

End-User

Government
Defense
Public Sector
Retail
E-Commerce
BFSI
Automotive
Transportation & Logistics
Industrial Manufacturing
Healthcare & Life Sciences
Media & Entertainment

Some of the major players operating in the location-based services (LBS) and real time location systems (RTLS) market are:

Cisco (U.S.)
Alphabet Inc. (U.S.)
Microsoft (U.S.)
IBM Corporation (U.S.)
TomTom International BV (Netherlands)
Oracle (U.S.)
Apple Inc. (U.S.)
Esri (U.S.)
Telefonaktiebolaget LM Ericsson (Sweden)
Qualcomm Technologies Inc. (U.S.)
Zebra Technologies Corp. (U.S.)
Ubisense Ltd. (U.K.)
CenTrak (U.S.)
Pitney Bowes Inc. (U.S.)
Ekahau (U.S.)
Galigeo (France)
HERE (Netherlands)
Teldio Corporation (Canada)
Navigine (U.S.)
Living Map (U.K.)
Airista Flow, Inc. (U.S.)
GeoMoby (Australia)
Quuppa (Finland)

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by different segment | 2023-2029
Location-Based Services (LBS) And Real Time Location Systems (RTLS) Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations

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