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Location-Based Services Market to Record USD 152.95 Mn Growth | Alibaba Group Holding Ltd., Alphabet Inc., and Apple Inc. emerge as dominant players | TechnavioNEW YORK, Jan. 6, 2022 /PRNewswire/ -- Location-based services Market Facts at a Glance-
Didn't Find What You Were Looking For? Customize Report- Don't miss out on the opportunity to speak to our analyst and know more insights about this market report. Our analysts can help you customize this report according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short time. We offer USD 1,000 worth of FREE customization at the time of purchase. Speak to our Analyst now! According to the recent market study by Technavio, the Location-Based Services Market Size is expected to increase by USD 152.95 billion from 2020 to 2025, with an accelerated CAGR of 31.04%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets. North America will register the highest growth rate, occupying 49% of the global market share. The US is the key market for location-based services in North America. However, the market growth in this region will be slower than the growth of the market in APAC. Download FREE Sample: for more additional information about the key countries in North America Vendor Insights- The location-based services market is fragmented and highly competitive. The market includes diverse players such as location providers, location technology developers, digital map providers, platform providers, application developers, navigation providers, mobile operators, proximity marketing providers, and mobile search providers. The market is also witnessing an increase in the number of start-ups offering innovative location-based services, which is further increasing the competition. Alibaba Group Holding Ltd.: The company offers a wide range of LBS products such as GPS tracker, Fleet Asset Management Software Development Service, among various others. Alphabet Inc.: The company offers Google Location Services (GLS). Apple Inc.: The company offers indoor maps, 3D digital maps, Flyover, Siri, among various others. AT&T Inc.: The company offers Donde, a location-based messaging service for mobile devices. Cisco Systems Inc.: The company offers Cisco Location Appliance. Find additional highlights on the vendors and their product offerings. Download Free Sample Report Regional Market Outlook The location-based services market growth in North America will be significant during the forecast period. The rapid adoption of mobile media by enterprises for promoting products and services coupled with the increasing adoption of location-enabled searches by individual users is driving the market growth in North America. The US is the prominent market for location-based services market in North America. Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries. Latest Drivers & Trends Driving the Market-
The use of navigation systems has enabled logistics companies to track the movement of goods across the world using real-time sensors, which is also helping them in enhancing their operational efficiencies. In addition, the rising availability and the declining cost smartphones have significantly increased the demand for personal and enterprise navigation services for multiple purposes. All these factors are increasing the demand for location-based services, which is driving the growth of the market.
The integration of LED fixtures with LBS solutions is one of the main trends gaining traction in the market. The use of LED fixtures for LBS removes the need for additional hardware infrastructure for lighting, thereby reducing costs. It helps users locate the products or services quickly. The LED fixtures can also be used to communicate with consumers' smartphones to provide directions to varied services in airports, museums, and retail shops. This trend is expected to have a positive impact on the growth of the market during the forecast period. Find additional information about various other market Drivers & Trends mentioned in our FREE sample report. Related Reports: GPS Market by Application and Geography - Forecast and Analysis 2022-2026
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