Global Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market to Reach $102.65 Billion by 2029, Growing at 26% CAGR

What market dynamics are playing a key role in accelerating the growth of the location-based services (lbs) and real-time location systems (rtls) market?
The rapid rise in smartphone usage is predicted to boost the expansion of the market for location-based services and real-time location systems. A smartphone is a portable device that connects to a cellular network. These location-based services and real-time location systems utilize digital geospatial and communication technologies to provide real-time data to individual smartphones, depending on their geographical location, facilitating the growth of this market. For example, Uswitch Limited, a UK-based online and telephone comparison and switching service, reported in February 2023 that in 2022, 71.8 million mobile connections were active, marking a 3.8% increase from the previous year. By 2025, the UK population is estimated to reach 68.3 million, and a staggering 95% of them are expected to own a smartphone. Consequently, the accelerating use of smartphones is fueling the growth of the location-based services and real-time location systems market.

Get Your Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Report Here:
https://www.thebusinessresearchcompany.com/report/location-based-services-lbs-and-real-time-location-systems-rtls-global-market-report

How will the growth rate of the location-based services (lbs) and real-time location systems (rtls) market shape industry trends by 2034?
The market size for location-based services (LBS) and real-time location systems (RTLS) has seen significant expansion over the past few years. Its growth is predicted to rise from $33.07 billion in 2024 to $40.58 billion in 2025, representing a compound annual growth rate (CAGR) of 22.7%. This growth has been largely driven by the rising demand for contactless solutions, applications in industrial and manufacturing sectors, usage in transportation and logistics, healthcare sector utilization, and the adoption by the retail industry.

The market size for location-based services (LBS) and real-time location systems (RTLS) is projected to witness substantial growth in the coming years. By 2029, it is predicted to reach a value of $102.65 billion, expanding at a compound annual growth rate (CAGR) of 26.1%. This anticipated growth in the forecast period is due to the rise of IoT integration, higher demand in the healthcare sector, growth in retail and e-commerce sectors, the advancement of smart cities, and solutions for post-pandemic issues. The forecast period is also expected to see major trends such as regulatory compliance and data privacy, strategic partnerships, improved safety and security measures, initiatives for smart city development, and better management of fleet and transportation systems.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8848&type=smp

What trends are poised to drive the future success of the location-based services (lbs) and real-time location systems (rtls) market?
Leading businesses in the sector of location-based services (LBS) and real-time location systems (RTLS) are introducing groundbreaking products like workplace applications to cater to a broader client base, escalate sales, and bolster their revenue. Workplace applications are software solutions made to streamline and enrich a variety of work elements inside a company. For instance, Microsoft Corporation, a prominent tech firm from the USA, unveiled Places, a product for GPS-like navigation in October 2022. The uniqueness of this application lies in its dedication to simplifying the integration of hybrid work structures for workplaces as well as employees. A key highlight is its satellite navigation-like functionality, allowing employees to seamlessly pinpoint meeting rooms within their office premises. Moreover, by mapping out the office structure and amenities within the application, users are equipped with the capacity to spot on-the-spot available hot desking spaces, simplifying the process to identify readily accessible and unoccupied workplaces in real-time.

Which primary segments of the location-based services (lbs) and real-time location systems (rtls) market are driving growth and industry transformations?
The location-based services (LBS) and real-time location systems (RTLS) market covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By Location Type: Indoor, Outdoor
3) By Application: Tracking And Navigation, Marketing And Advertisement, Location-Based Social Networks, Location-Based Health Monitoring, Other Applications
4) By End User: Manufacturing, Healthcare And Life Sciences, Media And Entertainment, Government, Retail, Transportation

Subsegments:
1) By Hardware: GPS Devices, RFID Tags And Readers, Beacons (Bluetooth, Ultra-Wideband), Sensors (Environmental, Motion), Wireless Access Points
2) By Software: LBS Software Platforms, Mapping And Navigation Software, Analytics And Data Management Software, Location Tracking Software
3) By Services: Consulting Services, Integration Services, Maintenance And Support Services, Managed Services

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8848

Which geographical regions are pioneering growth in the location-based services (lbs) and real-time location systems (rtls) market?
North America was the largest region in the location-based services (LBS) and real-time location systems (RTLS) market share in 2024. The regions covered in the location-based services (LBS) and real-time location systems (RTLS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the influential players reshaping the location-based services (lbs) and real-time location systems (rtls) market landscape?
Major companies operating in the location-based services (LBS) and real-time location systems (RTLS) market are NTT Docomo Inc., Google LLC, Oracle Corporation, Quuppa Intelligent Locating System, Airista Flow Inc., TomTom N.V, Qualcomm Incorporated, Zebra Technologies Corporation, Navigine Corp., Stanley Black & Decker Inc., Apple Inc., Teldio Avigilon Solutions, International Business Machines Corporation, Cisco Systems Inc., Microsoft Corporation, Ericsson India Private Limited, Aruba Networks, CenTrak, Wipro GE Healthcare Pvt. Ltd., Trimble Inc., Foursquare Labs Inc., Baidu Inc., AutoNavi Holdings Limited, Ubisense Group PLC, HERE Technologies, KDDI Corporation, Leantegra Inc., Sewio Networks s.r.o., Spime Inc., Identec Group AG, Infor Inc., TeleTracking Technologies Inc.

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/sample.aspx?id=8848&type=smp

What Is Covered In The Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Global Market Report?

• Market Size Forecast: Examine the location-based services (lbs) and real-time location systems (rtls) market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the location-based services (lbs) and real-time location systems (rtls) market for a structured understanding.
• Key Players Overview: Analyze major players in the location-based services (lbs) and real-time location systems (rtls) market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the location-based services (lbs) and real-time location systems (rtls) market.
• Segment Contributions: Evaluate how different segments drive overall growth in the location-based services (lbs) and real-time location systems (rtls) market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the location-based services (lbs) and real-time location systems (rtls) market.
• Industry Challenges: Identify potential risks and obstacles affecting the location-based services (lbs) and real-time location systems (rtls) market.
• Competitive Landscape: Review strategic developments in the location-based services (lbs) and real-time location systems (rtls) market, including expansions, agreements, and new product launches.

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company
With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.
Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.