Location Based Service Market 2019 Size, Sales Revenue, Comprehensive Research Study Focus on Opportunities, Demand, Growth, Application and Forecast to 2023
The report on the Global Location Based Service Market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player’s market share analysis, competitive landscape and supply chain analysis.
Pune, India – August 5, 2019 /MarketersMedia/ —
Overview
The global location-based services market is growing continually, mainly due to the increasing usages of mobile phones and the easy accessibility of GPS technology. Advances in analytical capabilities in the field of communications and expansion of existing 3G/4G and 5G technologies are some of the factors fuelling the location based services market.
Moreover, increasing uptake of location-based services in healthcare insurance and financial services industries escalate the market in the global platform. According to Market Research Future (MRFR), the global location based service market would reach over USD 80 BN by 2023, registering a whopping CAGR of over 28% throughout the forecast period (2017-2023).
Additional factors that are influencing the growth of the market include the proliferation of IoT platform that helps organizations to enhance their business operations by providing customer interaction. Furthermore, the penetration of Blockchain technology, which is expected to strengthen location-based advertising in the future, would foster the growth of the market.
Predictive modeling tools and interactive visualization are growing tremendously, alongside, the automation. This, as a result, is accelerating the methods of developing and analyzing predictive models that can be used in tasks such as customer analytics, risk reporting, etc.
Moreover, organizations that are streamlining their sales pipelines from lead generation to customer base are creating huge market demand. With the growing adoption of location-based services in the increasing number of companies offering financial services, the market has a positive outlook in the years to come.
The emergence of social media analytics is a primary factor driving the growth of the location based service market. Rapidly increasing social media platforms have accelerated the demand location-based service to track user interactions on these sites. Also, the increasing importance of sentiment analysis and advances in text analysis has prompted organizations to integrate social media into their business process.
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Major Players
Players leading the global location based service market include Google Inc. (US), Cisco Systems (US), IBM Corp. (US), Oracle Corp. (US), Microsoft Corp. (US), Qualcomm (US), Zebra Technologies (US), ESRI (US), Ericsson (Sweden.), and Teldio (US), among others.
Segmentation
The report segments the market into five key dynamics to widen the scope of understanding,
By Location Type: Indoor Location and Outdoor Location.
By Component: Hardware (Sensors & Readers, Tags & Transponders, and others), Software (Location Analytics, Geocoding & Reverse Geocoding, Reporting & Visualization, Risk Analytics, and many others), and Services (Deployment & Integration, Support & Maintenance, and Consulting Services)
By Application: Navigation, Location Based Search & Advertising, Location Based Tracking, and Location Based Infotainment, among others.
By End-user: BFSI, Retail, Defense, Government, Media & Entertainment, and Industrial Manufacturing, among many others.
By Region : Asia Pacific, North America, Europe, and the Rest-of-the-World.
Competitive Analysis
Numerous players form a competitive landscape in the location based service market. These players adopt aggressive strategic initiatives such as innovation, mergers & acquisitions, and brand reinforcement. They continuously launch products and services in developing economies to take advantage of the economic growth in these regions.
Regional Analysis
North America dominates the global Location Based Service Market with the largest market share. The region is home for many communication technology providers having strong navigation services, which, in turn, impacts the growth in the regional market. Moreover, the demand for home-based solutions and technological advantages are some of the key drivers for the regional market. Besides, the early adoption of cloud-based deployment services propels the growth of the market.
The location based service market in the Asia Pacific region is gradually emerging as a promising market, globally. The market has been valued considerably and is expected to reach to create a substantial revenue pocket over the forecast period. Increasing adoption of GPS services and cloud-based services alongside, the proliferation of smartphones are providing enormous opportunities across businesses.
Japan, China, and India are rapidly growing APAC countries anticipated to show a rapid rate through the forecast period. The increasing use of navigation services and location-based advertising in the region is providing better scope for the APAC countries to advance in the field of location-based services.
Industry/ Innovation/ Related News
January 10, 2019 — Bluetooth SIG, Inc. (the US), a leading global corporation that publishes Bluetooth specifications, evangelizing Bluetooth wireless technology, announced a new direction-finding feature as part of version 5.1 of the Bluetooth Core Specification to help drive interoperability across the location-based services (LBS) market.
The goal is to provide improved accuracy for Bluetooth-based real-time location systems (RTLS). Though there are various Bluetooth-based solutions available in the market, the new release formalizes the addition of directional capabilities to Bluetooth proximity solutions.
LIST OF TABLES
Table 1 Global Location Based Services Market: By Region, 2017-2023
Table 2 North America Location Based Services Market: By Country, 2017-2023
Table 3 Europe Location Based Services Market: By Country, 2017-2023
Table 4 Asia Pacific Location Based Services Market: By Country, 2017-2023
Table 5 The Middle East & Africa Location Based Services Market: By Country, 2017-2023
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LIST OF FIGURES
FIGURE 1 Global Location Based Services Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis Of Global Location Based Services Market
FIGURE 4 Value Chain Of Global Location Based Services Market
FIGURE 5 Share Of Global Location Based Services Market In 2017, By Country (In %)
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About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members
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Website: https://www.marketresearchfuture.com/reports/location-based-service-market-5439
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