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Comprehensive 2025 Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Overview: Trends, Forecasts, and Growth Drivers
Location-Based Services (LBS) And Real-Time Location Systems (RTLS)
What Is the Expected CAGR for the Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Through 2025?
In recent times, there has been a significant expansion in the market size of location-based services (LBS) and real-time location systems (RTLS). The market is projected to increase from $33.07 billion in 2024 to $40.58 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 22.7%. This growth observed during the historic period is a result of factors such as the surge in demand for contactless solutions, applications in industrial and manufacturing sectors, transportation and logistics industries, healthcare settings, and adoption by the retail industry.
What's the Projected Size of the Global Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market by 2029?
An anticipated substantial increase in the size of the location-based services (LBS) and real-time location systems (RTLS) market is expected in the coming years. By 2029, its market size is predicted to hit $102.65 billion, expanding at a compound annual growth rate (CAGR) of 26.1%. The projected increase during the forecast period can be assigned to the emergence of IoT integration, increased demand within the healthcare sector, growth in retail and e-commerce, development of smart cities, and post-pandemic remedies. Significant trends throughout this period are expected to be regulatory compliance and data protection, strategic partnerships, boosted safety and security measures, initiatives for smart cities, fleet management and transportation.
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Top Growth Drivers in the Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Industry: What's Accelerating the Market?
The escalating utilization of smartphones is anticipated to fuel the advancement of the location-based services and real-time location systems market in the future. A smartphone is a mobile electronic device that offers a cellular network connection. Location-based services and real-time location systems leverage the internet, geospatial technologies, and communication technologies to provide real-time information to individual smartphones, depending on their geographic positioning, thereby catalyzing the growth of this market. For instance, a report released by Uswitch Limited, a UK-based comparison and switching service operating online and via telephone, noted that in February 2023, there were 71.8 million active mobile connections in 2022, marking an upswing of 3.8% from 2021. By 2025, the UK population is projected to reach 68.3 million, and an impressive 95% of this populace will possess smartphones. Hence, the escalation in smartphone usage is accelerating the growth of the location-based services and real-time location systems market.
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What Trends Will Shape the Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Through 2029 and Beyond?
Leading businesses in the location-based services (LBS) and real-time location systems (RTLS) market are producing novel products like workplace applications to expand their customer reach, enhance sales, and boost their revenue. Workplace applications are software solutions designed to amplify various work facets within a firm. To cite an instance, in October 2022, Microsoft Corporation, an American technology company, introduced Places for GPS-like navigation. This application's unique feature is its commitment to advancing the implementation of hybrid work patterns for both the employees and workplaces. A notable feature is its satellite navigation-type functionality, which allows workers to easily identify meeting rooms within their office premises. Furthermore, by mapping the office's layout and amenities on the application, users can spot currently open hot desking areas, making it simpler to locate suitable and unoccupied workspaces in real time.
What Are the Main Segments in the Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market?
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
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Which Top Companies are Driving Growth in the Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market?
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.
Which Regions Will Dominate the Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Through 2029?
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.
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