Global Location Based Services Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz, in its upcoming report titled, “Global Location Based Services Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”, offers in-depth insights, revenue details, and other vital information regarding the global location based services market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report also offers insightful and detailed information regarding the various key players operating in the global location based services market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The global market report has been segmented on the basis location type, technology, services, application, component, and region. The global location based services market was valued at US$ XX.X billion in 2016, and is expected to reach US$ XX.X billion at a high double-digit CAGR of XX% over the forecast period.

Location-based services use real-time geo-data from a mobile device or smartphone to provide information, entertainment or security. Location-based services are used in different conditions such as health, indoor object search, entertainment, work and personal life. Location based services (LBS) use a smartphone GPS technology to track location of the individual. Also, LBS enables user to access social networking sites and reach advertisers based on their location-based apps.

Increase in number of mobile computing devices, rise in demand for personal and enterprise navigation services, and integration of location-based search with social networking websites are major factors driving growth of the global location based services market. In addition, increase in popularity of social networking, advancement in networks such as 4G and 5G, and evolution of Internet of Things (IOT) are some factors expected to drive growth of global location based services market during forecast period.

Growing concerns over privacy is expected to restrain growth of the global location based services market. In addition, increasing cyberattacks on government institution, high cost of geolocation technology and limited user awareness of LBS benefits are some other factors hindering growth of the global location based services market during forecast period.

North America accounts for largest revenue contribution to the global location based services market. This is attributed to growing use of indoor LBS solutions in the retail sector in the region. However, the Asia Pacific market is projected to register highest CAGR in terms of revenue during the forecast period due to rapid adoption of mobile media by enterprises coupled with increasing usage of location-enabled searches by individual users in the region.

Global Location Based Services Market Segmentation:

Global location based services market segmentation by location type:

• Indoor location
• Outdoor location

Global location based services market segmentation by technology:

• Cell Identification (Cell-ID)
• Enhanced GPS (E-GPS)
• Observed Time Difference of Arrival (OTDOA)
• Enhanced Observed Time Difference (E-OTD)
• Assisted GPS (A-GPS)

Global location based services market segmentation by services:

• Consulting
• System Integration
• Managed services

Global location based services market segmentation by application:

• Banking, Financial Services, and Insurance (BFSI)
• Defence
• Government and Public Utilities
• Healthcare and Life Sciences
• Industrial Manufacturing
• Retail and E-Commerce
• Transportation and Logistics

Global location based services market segmentation by component:

• Software
• Hardware

Global location based services market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa