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Location Based Services Market to Garner $183.81 Bn, Globally, by 2027 at 26.3% CAGR, Says Allied Market ResearchPORTLAND, Ore., Oct. 27, 2020 /PRNewswire/ -- Allied Market Research recently published a report, "Location-based Services Market by Component (Hardware, Software, and Services), Technology (GPS, Assisted GPS (A-GPS), Enhanced GPS (E-GPS), Enhanced Observed Time Difference, Observed Time Difference, Cell ID, Wi-Fi, and Others), Application (Location-based Advertising, Business Intelligence & Analytics, Fleet Management, Mapping & Navigation, Local Search & Information, Social Networking & Entertainment, Proximity Marketing, Asset Tracking, and Others), and Industry Vertical (Transportation & Logistics, Manufacturing, Government & Public Utilities, Retail, Healthcare & Life Sciences, Media & Entertainment, IT & Telecom, BFSI, Hospitality, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027". According to the report, the global location-based services market generated $28.95 billion in 2019, and is expected to reach $183.81 billion by 2027, growing at a CAGR of 26.3% from 2020 to 2027.  Prime determinants of the market Rise in demand for location-based services and smartphones, rapid proliferation of business analytics solutions, and diversified scope of applications drive the growth of the global location-based services market. However, high cost of real-time-based LBS and operational challenges hamper the market. On the contrary, newer applications requiring LBS solutions and technological advancements are expected to create lucrative opportunities for the market players in the future. Download Report Sample (150 Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/238 Covid-19 scenario:
Get detailed COVID-19 impact analysis on the location-based services market: https://www.alliedmarketresearch.com/request-for-customization/238 Location-based Advertising segment to portray highest growth through 2027 By application, the location-based advertising segment is expected to register the highest CAGR of 30.4% during the forecast period, owing to its functionalities such as close proximity advertising. However, the mapping and navigatin segment dominated in 2019, accounting for nearly one-fifths of the global location-based services market, due to proliferation of maps and navigational application in smart and IoT devices. Transportation & logistics segment dominated the market By transportation & logistics segment held the largest share in 2019, contributing to around 14% of the global location-based services market, due to rise in deployment of location-based application such as GPS in vehicles. However, the retail segment is expected to manifest the highest CAGR of 29.7% during the forecast period, owing to increase in strategic marketing planning based on consumers locations. For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/238 North America held lion's share By region, the market across North America held the largest share in 2019, accounting for more than two-fifths of the market, owing to high presence of market players in the region. However, the global location-based services market across Asia-Pacific region is anticipated to portray the highest CAGR of 30.0% from 2020 to 2027. This is due to strong penetration of location-based services into smart devices and deployments in various industries construction, manufacturing, real-estate, and tourism. Major market players
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements. Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter Similar Reports: Indoor Positioning and Indoor Navigation (IPIN) Market Expected to Reach $43,511 Million by 2025 Building Information Modeling Market Expected to Reach $15.06 Billion by 2027 Real-Time Location System Market Expected to Reach $23.13 Billion by 2026 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 to make strategic business decisions and achieve sustainable growth in their respective market domain. AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports. Contact:
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