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Location-Based Services Market size was valued at USD 23.12 billion in 2022 and is expected to grow to USD 81.85 billion By 2030 and grow at a CAGR of 17.12 % over the forecast period of 2023-2030.
Location-Based Services (LBS) market has witnessed remarkable growth in recent years, driven by the proliferation of smartphones and advancements in geospatial technologies. These services leverage location data to offer personalized experiences, ranging from navigation and mapping to targeted advertising and location-based analytics. The market is characterized by intense competition, with key players constantly innovating to enhance user experience and expand their service offerings.
One of the key drivers propelling the growth of the Location-Based Services market is the increasing adoption of Internet of Things (IoT) devices. These devices, equipped with location-tracking capabilities, generate vast amounts of geospatial data that can be leveraged by LBS providers to offer innovative solutions across various industries such as retail, transportation, and healthcare. Additionally, the rising demand for location-based advertising solutions among marketers seeking to target consumers based on their real-time location is expected to further fuel market growth.
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Covid 19 impact analysis:
The Global Location-Based Services Market report presents comprehensive information covering insightful data for businesses and investors for the time period of 2023-2030. The report studies the historical data of the Location-Based Services market and offers valuable information about the key segments and sub-segments, revenue generation, demand and supply scenario, trends, and other vital aspects. The report offers an accurate forecast estimation of the Location-Based Services industry based on the recent technological and research advancements. It also offers valuable data to assist the investors in formulating strategic business investment plans and capitalize on the emerging growth prospects in the Location-Based Services market. The study on the Global Location-Based Services Market is the latest report covering the impact analysis of the currently ongoing COVID-19 pandemic. The pandemic has directly affected the market by causing disruptions in the global supply chains and indirectly by inducing financial difficulties. The Location-Based Services market has witnessed dynamic changes in trends and demands owing to the ongoing COVID-19 pandemic. The report provides a detailed outlook on how the pandemic has affected the key segments of the Location-Based Services industry. The report includes an in-depth impact analysis of the COVID-19 pandemic on the overall Location-Based Services industry.
Major companies profiled in the market report include
Microsoft Corporation, Qualcomm Technologies, Inc., Oracle Corporation, Intel Corporation, Cisco Systems, Inc., AT&T Inc., HERE, Eseye Limited, Apple, Inc., Airtel India., ALE International, Google LLC, IBM Corporation .
Research objectives:
The Global Location-Based Services Market report provides full coverage of the companies’ data, including details about their production and manufacturing capacity, product portfolio, business overview, revenue, gross profit margins, sales network and distribution channel, financial standing, and market position. The report also studies business strategies and strategic alliances undertaken by companies to gain a robust footing in the market. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. The comprehensive analysis of the competitive landscape offers the readers a deeper understanding about the competitors.
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It has segmented the global Location-Based Services market
By Component
- Hardware
- Software
- Services
By Technology
- GPS
- Assisted GPS (A-GPS)
- Enhanced GPS (E-GPS)
- Enhanced Observed Time Difference
- Observed Time Difference
- Cell ID
- Wi-Fi
- Others
By Location Type
- Indoor
- Outdoor
By Application
- Emergency Services
- Tracking Services
- Navigation Services
- Social Media Services
- Information Services
- Gaming/Entertainment Services
- Advertising/Promotion Services
- Others
By End User
- Banking, Financial Services, and Insurance (BFSI)
- IT and Telecommunications
- Retail
- Transportation and Logistics
- Government
- Healthcare and Life Sciences
- Manufacturing
- Others
Key Objectives of the Global Location-Based Services Market Report:
- Analysis and estimation of the Location-Based Services market size and share for the projected period of 2023-2030
- Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Location-Based Services market
- Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
- Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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