Press release
USD 402.4 Billion Location Based Services Market Reach by 2031 : Growth Drivers and Future Scenarios
According to the report published by Allied Market Research, The USD 402.4 Billion Location Based Services Market Reach by 2031 : Growth Drivers and Future Scenarios. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.
Increase in adoption of social media & smart phones, easy availability of GPS, emergence of location-based technology, and the increase in number of smartphone users and internet accessibility drive the growth of the global location-based services market. However, inflated cost of installation and maintenance and operational challenges are hampering the location-based services market growth. On the contrary, the growing penetration of 3G & 4G networks and continuous increase in the number of internet users are expected to offer remunerative opportunities for expansion of the location-based services market during the forecast period.
Download Sample Report at: https://www.alliedmarketresearch.com/request-sample/238
The global location-based services market was valued at USD 45.4 billion in 2021, and is projected to reach USD 402.4 billion by 2031, growing at a CAGR of 24.6% from 2022 to 2031.
The location-based services market is segmented on the basis of component, technology, application, industry vertical, and region. By component, it is categorized into hardware, software, and services. By technology, it is divided into GPS, Assisted GPS (A-GPS), Enhanced GPS (E-GPS), enhanced observed time difference, observed time difference, cell ID, Wi-Fi, and others. By application, the LBS market is classified into location-based advertising, business intelligence & analytics, fleet management, mapping and navigation, local search & information, social networking & entertainment, proximity marketing, asset tracking, and others. By industry vertical, it is segmented into transportation & logistics, manufacturing, government & public utilities, retail, healthcare & life sciences, media & entertainment, IT & telecom, BFSI, hospitality, and others. Region-wise, the market is performed across North America, Europe, Asia-Pacific, and LAMEA.
Access the full summary at: https://www.alliedmarketresearch.com/location-based-services-market
Based on component, the services segment held the highest market share in 2021, accounting for nearly half of the global location-based services market, and is estimated to maintain its leadership status throughout the forecast period, as it provides location-based services typically create and implement mapping and navigation solutions into the intended infrastructure to introduce sophisticated navigational capabilities, which aids the firm in future marketing decisions. However, the software segment is projected to manifest the highest CAGR of 26.9% from 2022 to 2031, as it offers location analytics, risk analytics & geofencing, geospatial data transformation, and geocoding & reverse geocoding.
Based on technology, the Assisted GPS (A-GPS) segment held the highest market share in 2021, accounting for nearly one-fifths of the global location-based services market and is estimated to maintain its leadership status throughout the forecast period, owing to the combination of GPS and Cell ID tools. It links the positioning system of GSM operators with satellite positioning and uses both GPS technology and BTS position to correct any errors regarding exact location. However, the others segment is projected to manifest the highest CAGR of 28.3% from 2022 to 2031, owing to the use of methods such as time of arrival (TOA), angle of arrival (AOA), and time difference of arrival (TDOA).
If you have any questions, Please feel free to contact our analyst at: https://www.alliedmarketresearch.com/connect-to-analyst/238
Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global location-based services market, owing to rise in technological advancements and a well-established media & entertainment industry. However, the Asia-Pacific region is expected to witness the fastest CAGR of 27.3% from 2022 to 2031 and is likely to dominate the market during the forecast period, owing to surge in the adoption of location-based services software by prominent companies in this region.
The key players profiled in the location-based services market analysis is ALE International, Apple, Inc., AT&T Inc., Airtel India., Cisco Systems, Inc., Google Inc., HERE, IBM Corporation, Microsoft Corporation, Oracle Corporation, and Qualcomm Technologies Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the location-based services industry.
Inquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/238
Covid-19 Scenario
● The outbreak of the Covid-19 pandemic had a negative impact on the global location-based services market, owing to implementation of the global lockdown.
● At present, economies are shifting their focus from responding to the pandemic to economic recovery, and hence, with the growing demand for GPS-based solutions, various growth opportunities may emerge for the location-based services market players.
Buy Complete Report (473 Pages PDF with Insights, Charts, Tables, and Figures) at:
https://www.alliedmarketresearch.com/location-based-services-market/purchase-options
Thanks for reading this article you can also get individual chapter-wise sections or region-wise report versions like North America Europe or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Contact:
David Correa
5933 NE Win Sivers Drive
#205 Portland OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn and Twitter
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
AMR launched its user-based online library of reports and company profiles Avenue. An e-access library is accessible from any device anywhere and at any time for entrepreneur's stakeholder's researchers and students at universities. With reports on more than 60000 niche markets with data comprising of 600000 pages along with company profiles on more than 12000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.
Increase in adoption of social media & smart phones, easy availability of GPS, emergence of location-based technology, and the increase in number of smartphone users and internet accessibility drive the growth of the global location-based services market. However, inflated cost of installation and maintenance and operational challenges are hampering the location-based services market growth. On the contrary, the growing penetration of 3G & 4G networks and continuous increase in the number of internet users are expected to offer remunerative opportunities for expansion of the location-based services market during the forecast period.
Download Sample Report at: https://www.alliedmarketresearch.com/request-sample/238
The global location-based services market was valued at USD 45.4 billion in 2021, and is projected to reach USD 402.4 billion by 2031, growing at a CAGR of 24.6% from 2022 to 2031.
The location-based services market is segmented on the basis of component, technology, application, industry vertical, and region. By component, it is categorized into hardware, software, and services. By technology, it is divided into GPS, Assisted GPS (A-GPS), Enhanced GPS (E-GPS), enhanced observed time difference, observed time difference, cell ID, Wi-Fi, and others. By application, the LBS market is classified into location-based advertising, business intelligence & analytics, fleet management, mapping and navigation, local search & information, social networking & entertainment, proximity marketing, asset tracking, and others. By industry vertical, it is segmented into transportation & logistics, manufacturing, government & public utilities, retail, healthcare & life sciences, media & entertainment, IT & telecom, BFSI, hospitality, and others. Region-wise, the market is performed across North America, Europe, Asia-Pacific, and LAMEA.
Access the full summary at: https://www.alliedmarketresearch.com/location-based-services-market
Based on component, the services segment held the highest market share in 2021, accounting for nearly half of the global location-based services market, and is estimated to maintain its leadership status throughout the forecast period, as it provides location-based services typically create and implement mapping and navigation solutions into the intended infrastructure to introduce sophisticated navigational capabilities, which aids the firm in future marketing decisions. However, the software segment is projected to manifest the highest CAGR of 26.9% from 2022 to 2031, as it offers location analytics, risk analytics & geofencing, geospatial data transformation, and geocoding & reverse geocoding.
Based on technology, the Assisted GPS (A-GPS) segment held the highest market share in 2021, accounting for nearly one-fifths of the global location-based services market and is estimated to maintain its leadership status throughout the forecast period, owing to the combination of GPS and Cell ID tools. It links the positioning system of GSM operators with satellite positioning and uses both GPS technology and BTS position to correct any errors regarding exact location. However, the others segment is projected to manifest the highest CAGR of 28.3% from 2022 to 2031, owing to the use of methods such as time of arrival (TOA), angle of arrival (AOA), and time difference of arrival (TDOA).
If you have any questions, Please feel free to contact our analyst at: https://www.alliedmarketresearch.com/connect-to-analyst/238
Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than two-fifths of the global location-based services market, owing to rise in technological advancements and a well-established media & entertainment industry. However, the Asia-Pacific region is expected to witness the fastest CAGR of 27.3% from 2022 to 2031 and is likely to dominate the market during the forecast period, owing to surge in the adoption of location-based services software by prominent companies in this region.
The key players profiled in the location-based services market analysis is ALE International, Apple, Inc., AT&T Inc., Airtel India., Cisco Systems, Inc., Google Inc., HERE, IBM Corporation, Microsoft Corporation, Oracle Corporation, and Qualcomm Technologies Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the location-based services industry.
Inquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/238
Covid-19 Scenario
● The outbreak of the Covid-19 pandemic had a negative impact on the global location-based services market, owing to implementation of the global lockdown.
● At present, economies are shifting their focus from responding to the pandemic to economic recovery, and hence, with the growing demand for GPS-based solutions, various growth opportunities may emerge for the location-based services market players.
Buy Complete Report (473 Pages PDF with Insights, Charts, Tables, and Figures) at:
https://www.alliedmarketresearch.com/location-based-services-market/purchase-options
Thanks for reading this article you can also get individual chapter-wise sections or region-wise report versions like North America Europe or Asia.
If you have any special requirements, please let us know and we will offer you the report as per your requirements.
Lastly this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.
Contact:
David Correa
5933 NE Win Sivers Drive
#205 Portland OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn and Twitter
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland Oregon. AMR provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
AMR launched its user-based online library of reports and company profiles Avenue. An e-access library is accessible from any device anywhere and at any time for entrepreneur's stakeholder's researchers and students at universities. With reports on more than 60000 niche markets with data comprising of 600000 pages along with company profiles on more than 12000 firms, Avenue offers access to the entire repository of information through subscriptions. A hassle-free solution to clients' requirements is complemented with analyst support and customization requests.
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