U.S (New York) – New research study titled “Location Based Services Market” for the year 2023, encompassing various aspects such as industry size, market share, growth analysis, segmentation, leading manufacturers and innovations, key trends, market drivers, restraints, regulatory framework, distribution methods, opportunities, strategies, potential roadmap, and annual forecasts until 2031. The primary objective of this market research study is to thoroughly examine the industry, enabling businesses to gain comprehensive insights into the sector and its economic potential. By leveraging accurate statistical research data provided by Report Ocean 2023 to 2031, your business can experience accelerated growth. This report also delves into PESTLE & SWOT analysis, Porter’s Five Forces Analysis, and provides crucial information including expenditure, costs, revenue, and end-users. With over 150+ pages, the document offers a comprehensive table of contents, 180+ figures, tables, charts, and insightful analysis.
Location-based service (LBS) is delivery of specific services to users on the basis of location of mobile or wireless devices. Location-based services are used to locate persons, objects, track vehicle movements, navigation, logistics, and inventory management. Upsurge in penetration of wireless devices such as tablets, smartphones, and handheld devices has boosted the adoption of social networking platforms, and provided new avenues for location-based marketing & advertising. KEY MARKET PLAYERS, , Cisco Systems, Inc., Google Inc., Alcatel-Lucent SA, AT&T Inc., International Business Machines Corporation, Qualcomm Inc., Microsoft Corporation, Oracle Corporation, Apple, Inc., Bharti Airtel, LTD.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Moreover, rise in demand for active check-in apps, and use of business intelligence in fraud management & secure authentication has fueled the growth of location-based services market. However, increased prices of real-time based LBS components, and personal data security are the major factors hindering the growth of global location-based services industry. Increasing application areas along with technological advancements in cloud computing, global navigation satellite system (GNSS), GPS, wireless technologies, advanced motion & temperature sensors, unmanned vehicles, high precision cameras, and others is expected to provide numerous growth opportunities for the location-based services market.
Rapid adoption of Wi-Fi and WLAN networks in hospitals and public places is expected to drive the location-based services market during the forecast period. Furthermore, owing to advancements in technology and increase in consumer demand, leading market players have developed various LBS-enabled products and adopted various strategies to sustain the intense competition in the global location-based services market. Product launch is one of the most prominent strategies adopted by market players in the global location-based services industry. For instance, in 2016, AT&T launched AT&T Fleet Complete, which is a GPS-based fleet for asset and mobile workforce solution. In addition, Retale, a location-based mobile advertising platform, announced the introduction of RetaleBot, which uses location based information to offer coupons to users through Facebook Messenger.
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The global location-based services market is segmented into components, applications, technologies, end users, and regions. The components of location-based services market are segmented into hardware, software, and services. The services are subsegmented into consulting services, managed services, system integration services, and others services. The applications of location based services are segmented into location-based advertising, business intelligence & analytics, social networking, and entertainment (location-based gaming and augmented reality), mapping & navigation, local search & information, and others. On the basis of technology, the market is segmented into GPS, assisted GPS, enhanced GPS, enhanced observed time difference, observed time difference, cell ID, Wi-Fi, and others. The end users of the market are segmented into media & entertainment, retail, transportation, government & defense, healthcare, and others. The others segment includes oil and gas, education, and BFSI.
KEYBENEFITS
This report provides an in-depth analysis of the global LBS market to identify the potential investment pockets.
It outlines the current trends and future scenario of the global location-based services market size for the period of 2016 to 2020 to understand the prevailing opportunities and investment pockets.
The key drivers, restraints, and opportunities along with their detailed impact analyses have been elucidated.
Porter’s Five Forces model analysis illustrates the impact of factors such as threat of new entrants, threat of substitutes, strength of the buyers, and strength of suppliers on the market growth.
Value chain analysis provides a clear understanding on the roles of stakeholders involved in the value chain.
OTHER COMPANIES MENTIONED IN THE REPORT:
TeleCommunication Systems, Inc., Intersec Group, WifiSLAM Inc., Aruba Networks, Inc., Meridian Apps, Inc, Ruckus Wireless, Inc., YFind Technologies Private Limited, Broadcom Corporation, Texas Instruments Inc, MediaTek Inc., Fujitsu Ltd., Intel Corporation, Samsung Electronics, LG Electronics, Lenovo Group Ltd., Huawei Technologies Co. Ltd., Canon Inc, Sony Corporation, Nikon Corporation, Garmin Ltd., Timex Group, Acer Inc., HP Company, Dell Inc., Pocket Finder, Pegatron Corporation, Wistron Corporation, TomTom Telematics, Zynga Inc., Yelp Corporation, Shopkick Inc., and Zebra Technologies
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KEY MARKET SEGMENTS
The location-based services market is segmented on the basis of component, technology, application, end user, and geography.
Location-based Services Market, by Component
Hardware
Software
Services
Consulting Services
Managed Services
System Integration Services
Others (Deployment, Application, and Maintenance Services)
Location-based Services Market, by Technology
Assisted GPS (A-GPS)
GPS
Enhanced GPS (E-GPS)
Enhanced Observed Time Difference (E-OTD)
Observed Time Difference (OTD)
Cell ID
Wi-Fi
Others (Bluetooth, Enhanced cell ID, and Geofencing)
Location-based Services Market, by Application
Location-based Advertising
Business Intelligence & Analytics
Social Networking & Entertainment
Mapping & Navigation
Local Search & Information
Others (Disaster Management, and Emergency Support)
Location-based Services Market, by End User
Transportation
Media & Entertainment
Retail
Healthcare
Government & Defense
Others (Education, BFSI, and Oil & Gas)
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Location-based Services Market, by Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
Italy
France
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Singapore
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Market Dynamics:
Surging air traffic: As the global aviation industry continues to expand, there is a corresponding increase in market demand.
Heightened emphasis on safety and reliability: The aerospace and defense sector places significant importance on ensuring safety and reliability, which drives the need for top-notch market offerings.
Growing commitment to environmental sustainability: The aerospace and defense industry is increasingly dedicated to reducing its carbon footprint, resulting in the adoption of sustainable aviation fuels.
Escalating globalization: The growth of international trade and travel propels the demand for market solutions.
Increasing desire for private air transportation: The rising number of affluent individuals and their preference for exclusive air travel are generating fresh opportunities in the market.
Expanding utilization of digital fuel management systems: The integration of digital fuel management systems facilitates efficient fuel consumption and reduces associated costs.
Advancements in fuel cell technology: Ongoing developments in fuel cell technology unlock new possibilities for the production of sustainable market alternatives.
Mounting demand for air cargo transportation: The flourishing e-commerce sector fuels an increasing need for air cargo transportation, thereby driving the demand for market offerings.
Rising defense budgets: Governments worldwide are augmenting their defense spending, leading to heightened market demand.
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