Global Location-Based Services Market, By Component (Hardware, Software and Services), Location Type (Indoor and Outdoor), Application (Tracking and Navigation, Marketing and Advertising, Location-based Social Networks, Location-based Health Monitoring and Others), Technology (BLE Beacons, WI-FI, GPS/GNSS and Others) Industry Vertical (Transportation and Logistics, Retail, Government, Tourism and Hospitality, Manufacturing, Healthcare and Life Sciences, Media and Entertainment and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Location-Based Services Market
Increasing used of location-based mobile advertising especially in the developing economies, growing adoption of advanced and latest technologies such as spatial data and Bi solutionsand rising modernization in the production techniques are the major factors attributable to the growth of thelocation-based servicesmarket. Data Bridge Market Research analyses that the location-based servicesmarket will exhibit a CAGR of 23.45% for the forecast period of 2021-2028.This means that the location-based services market would stand tall at a market value of USD 226.91 billion by 2028.
From the name itself, it is clear that location-based services are the services that are widely used for mapping and navigation purposes. Location based services, apart from just providing information regarding geographical locations, assists in disaster management and natural resource management. Proximity marketing and asset tracking are some other features of location-based services.
Increased adoption of internet of things and cloud based technologies will emerge as the majormarket growth driving factor. Rising application of location-based services for geospatial applicationsand growing research and development activities by the various verticalswill further aggravate the growth of the market. Growth in the expenditure for the integration of 3D maps applications, technological up gradations in hardware and software components and surge in the proliferation of social media, smartphones, and location-based appsare some other factors bolstering the growth of market.
However, unorganized security regulations coupled with rising security and privacy concerns will act as a growth restraint for the market. High costs associated with the components will further dampen the growth rate of the market. Dearth of skilled personnel or technical expertise will yet again hamper the market growth rate.
This location-based services market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on location-based services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Location-Based Services Market Scope and Market Size
The location-based services market is segmented on the basis of component, location type, application, technology and industry vertical. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- By the component, the location-based services market is segmented into hardware, software and services. Software segment is further sub-segmented into geocoding and reverse geocoding, location and predictive analytics, reporting and visualization, database management and spatial ETL, risk analytics and threat prevention. Services segment is further sub-segmented into deployment and integration, application support and maintenance and consulting and training.
- On the basis of location type, the location-based services market is segmented into indoor and outdoor.
- On the basis of application, the location-based services market is segmented into tracking and navigation, marketing and advertising, location-based social networks, location-based health monitoring and others. Others segment is sub-segmented into location-based gaming and emergency support.
- On the basis of technology, the location-based services market is segmented into BLE beacons, Wi-Fi, GPS/GNSS and others.
- On the basis of industry vertical, the location-based services market is segmented into transportation and logistics, retail, government, tourism and hospitality, manufacturing, healthcare and life sciences, media and entertainment and others. Others segment is sub-segmented into energy and utilities, banking, financial services and insurance [BFSI], telecom, and education.
Location-Based Services Market Country Level Analysis
The location-based services market is analysed and market size, volume information is provided by country, component, location type, application, technology and industry verticalas referenced above.
The countries covered in the location-based services market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the location-based services market and its market share will continue to expand during the forecast period owing to the rising advancements in the communication technology. Asia-Pacific will register the highest CAGR for the forecast period. Rising penetration of smartphones is a major factor fostering the market growth rate.
The country section of the location-based services market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Location-Based ServicesMarket Share Analysis
The location-based services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to location-based services market.
The major players covered in the location-based services market report are Alphabet Inc., Microsoft, IBM, Cisco Systems, Inc., Hewlett Packard Enterprise Development LP, Telefonaktiebolaget LM Ericsson, Maxar Technologies, ALE International, ALE USA Inc., Qualcomm Technologies Inc., Qubercomm., Esri,Zebra Technologies Corp., Polaris Wireless., iSpace, HERE,Connexient, Comtech Telecommunications Corp., Phunware Inc., Oracle and Google LLC among other domestic and globalplayers. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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