Global Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Growth Accelerates: Strategic Forecast Predicts $100.71 Billion by 2029

Use code ONLINE20 to get 20% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

What Will the Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Industry Market Size Be by 2025?
In recent years, we have observed a remarkable expansion in the market size of location-based services (lbs) and real-time location systems (rtls). It is projected to surge from $33.07 billion in 2024 to a whopping $40.37 billion in 2025, registering a compound annual growth rate (CAGR) of 22.1%. The historical period growth has seen contributions from the increasing requirement for contactless solutions, applications in the industrial and manufacturing sector, usage in transportation and logistics, integration in healare, and adoption in the retail industry.

What's the Long-Term Growth Forecast for the Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Size Through 2029?
The market size for location-based services (lbs) and real-time location systems (rtls) is predicted to experience substantial growth in the upcoming years, reaching $100.71 billion by 2029, and growing at a compound annual growth rate (CAGR) of 25.7%. This growth during the prediction period can be attributed to factors such as the surge in IoT integration, increasing requirements in healare, broadening in retail and e-commerce, progress in smart city creation, and post-pandemic solutions. Important trends during this forecast period encompass regulatory compliance and data privacy, strategic partnerships, improved safety and security measures, smart city initiatives, along with fleet management and transportation.

View the full report here:
https://www.thebusinessresearchcompany.com/report/location-based-services-lbs-and-real-time-location-systems-rtls-global-market-report

What Are the Key Growth Drivers Fueling the Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Expansion?
The rising usage of smartphones is predicted to fuel the expansion of the location-based services and real-time location systems market. Smartphones are handheld electronic devices with cellular network connectivity. Location-based services and real-time location systems harness the internet, geospatial technologies, and communication technologies to provide real-time information tailored to the geographic location of each smartphone. This technology is instrumental in propelling the market's growth. For example, a February 2023 report by Uswitch Limited, a UK-based online and telephone comparison and switching services provider, revealed that there were 71.8 million active mobile connections in 2022, up 3.8% from 2021. By 2025, out of the estimated 68.3 million people residing in the UK, 95% will own smartphones. This growing smartphone usage trend is consequently leading to the expansion of the location-based services and real-time location systems market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=8848&type=smp

What Are the Key Trends Driving Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Growth?
Leading firms in the location-based services (LBS) and real-time location systems (RTLS) market are crafting inventive goods like workplace applications to appeal to a larger client base, enhance sales, and earn more revenue. Workplace applications denote software programs or tools tailored to improve various elements of organizational work. For example, in October 2022, Places for GPS-style navigation was introduced by Microsoft Corporation, a technology company headquartered in the US. The application's hallmark is its drive to simplify the integration of hybrid working models for both staff and workplaces. Its satellite navigation-style features help employees to seamlessly find meeting rooms in their office building. What's more, by inputting the layout and amenities of the office into the application, users have the convenience of identifying currently unoccupied hot desking spots, hence simplifying the process of locating suitable and empty workspaces in real-time.

How Is the Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Segmented?
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, Healare 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

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=8848&type=smp

Which Companies Are Leading the Charge in Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Innovation?
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 Healare 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 Are Leading the Global Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market in Revenue?
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.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=8848

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Speak With Our Expert:
Saumya Sahay
Europe - +44 7882 955267,
Asia: +91 88972 63534,
Americas - +1 310-496-7795 or
Email:saumyas@tbrc.info
Follow Us On:
• LinkedIn: https://in.linkedin.com/company/the-business-research-company

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.