SUBSCRIBE TO TMCnet
TMCnet - World's Largest Communications and Technology Community

TMC NEWS

TMCNET eNEWSLETTER SIGNUP

Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market Worth $40.0 Billion by 2024 - Exclusive Report by MarketsandMarkets™
[August 28, 2019]

Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market Worth $40.0 Billion by 2024 - Exclusive Report by MarketsandMarkets™


CHICAGO, Aug. 28, 2019 /PRNewswire/ -- According to a new market research report "Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market by Component (Hardware, Software and Services), Location Type (Indoor and Outdoor), Vertical, Region - Global Forecast to 2024", published by MarketsandMarkets™, expects the Location-Based Services (LBS) and Real-Time Location Systems (RTLS) market to grow from USD 16.0 billion in 2019 to USD 40.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 20.1% during the forecast period.

MarketsandMarkets Logo

Major factors expected to drive the growth of the LBS and RTLS market include various applications of geospatial data; growing demand for LBS and RTLS for industry applications; proliferation of social media, smartphones, and location-based apps among consumers; and growing demand for geomarketing.

Browse in-depth TOC on "Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market"
54 – Tables
39 – Figures
166 – Pages

Request PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=96994431

Based on component, services segment to record a higher growth rate than the hardware and software segment during the forecast period

By component, the services segment is expected to grow at a higher rate than the hardware and software segment during the forecast period. The services segment has a major influence on the LBS and RTLS market growth. The demand for services is increasing with the growing adoption of LBS and RTLS solutions by enterprises across major application areas. These services are essential for the successful operation of LBS and RTLS solutions. The overall cost of the LBS installation depends on the complexity of the application and the type of technology used.

Among services, application support and maintenance segment to grow at a higher rate than the deployment and integration, and consulting and advisory services segment during the forecast period

Among services, the application support and maintenance segment is expected to witness a higher growth rate than the deployment and integration, and consulting and advisory services segment during the forecast period. Application-specific support and maintenance services are offered after the installation of an LBS and RTLS solution in an organiztion. These services include assistance provided during installation and maintenance activities for data and software/solutions maintenance. The services can be offered from remote places, via web conferencing, telephones, and ticketing systems or via onsite assistance. An end user may require the help of an LBS and RTLS vendor for further customization or improvement in the system, for which the vendor provides services for a predetermined duration.



Inquiry Before Buying:
https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=96994431

North America to account for the largest market size duringthe forecast period


North America is expected to hold the largest market size during the forecast period. The US has emerged as the largest market for LBS and RTLS owing to the large-scale implementation of LBS and RTLS solutions by organizations and enterprises in the country. The high pace of development of infrastructure in the US, along with the high growth of Internet of Things (IoT), Artificial Intelligence (AI), and cloud computing has attributed to the fast growth of the Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market in the US.

Key and emerging market players include Aruba Networks (US), Cisco (US), Google (US), Esri (US), IBM (US), Microsoft (US), Oracle (US), TomTom (Netherlands), Teldio (Canada), HERE (Netherlands), Ericsson (Sweden), Foursquare (US), Navigine (US), AiRISTA Flow (US), Quuppa (Finland), Ubisense (UK), Apple (US), Qualcomm (US), STANLEY Healthcare (US), GE Healthcare (US), CenTrak (US), Spime (US), KDDI (Japan), NTT Docomo (Japan), and Zebra Technologies (US). These players have adopted various strategies to grow in the LBS and RTLS market.

Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting

Browse Related Reports:

Geomarketing Market by Software (Location and Predictive Analytics, Reporting, and Geofencing), Services, Technology (Wi-Fi, Bluetooth, Beacons, NFC, and GPS), Location (Indoor, and Outdoor), Deployment Mode, Vertical, and Region - Global Forecast to 2023
https://www.marketsandmarkets.com/Market-Reports/geomarketing-market-196816785.html

Digital Map Market by Component, Mapping Type (Outdoor and Indoor), Application (Real-time Location Data Management, Geocoding and Geopositioning, Routing and Navigation, and Asset Tracking), Vertical, and Region - Global Forecast to 2024
https://www.marketsandmarkets.com/Market-Reports/digital-map-market-174129746.html

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
MarketsandMarkets™ Blog: https://mnmblog.org/  
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/location-based-service-market.asp 
Content Source: https://www.marketsandmarkets.com/PressReleases/location-based-service.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg    


[ Back To TMCnet.com's Homepage ]









Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments: tmc@tmcnet.com.
Comments about this site: webmaster@tmcnet.com.

STAY CURRENT YOUR WAY

© 2019 Technology Marketing Corporation. All rights reserved | Privacy Policy