Location-based Services (LBS) Market to  Market: Do you really need it? This Report will help you Decide!
  • Published On: 25-02-2022

Location-based Services (LBS) Market to Market: Do you really need it? This Report will help you Decide!

Key Insights

The global Location-based Services (LBS) market was valued at USD 16.93 Billion in 2020 and is projected to reach USD 4.96 Billion by 2028, growing at a CAGR of 16.98% from 2021 to 2028.

A location-based service (LBS) is a common term for software services that employs geographic data and information to provide information or services to users. The report aims to hand over an overview of the global ships turbocharger market with exhaustive market segmentation analysis by Component which includes Software, Hardware, and Services, By Technology which includes GPS, Assisted GPS (A-GPS), Enhanced GPS (E-GPS), Enhanced Observed Time Difference, Observed Time Difference, Cell ID, Wi-Fi, and Others, By Application which includes Location-based Advertising, Business Intelligence & Analytics, Fleet Management, Mapping & Navigation, Local Search & Information, Social Networking & Entertainment, Proximity Marketing, Asset Tracking, and Others.

Read Full Report: https://www.vantagemarketresearch.com/industry-report/location-based-services-lbs-market-0159

Key Findings

  • The hardware segment of the Location-based Services (LBS) Market is projected to expand at the fastest CAGR exceeding 20% over the forecast period. This demand is basically due to the high usage of hardware applications to track the location. One of the reasons to increase the demand of the hardware segment is the high usage of location-based services by enterprises to gain strategic and a competitive advantage over their competitors.
  • The Social Networking & Entertainment segment of the Location-based Services (LBS) Market held a market share of around 18% in 2020. This share is due to the increased demand for social media for various applications. The market also provides analytical solution demand to analyze and provide real-time geo-data. This is also one of the reasons to propel the growth of the Location-based services market.
  • North America is anticipated to expand the market growth at a CAGR of 16% during the forecast period. This attribution is due to the rising tendency of businesses toward digital technology which is helpful for growing business.

COVID-19 Impact Analysis

The COVID-19 outbreak has affected various industries worldwide. The Location-based Services (LBS) market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop the swift spread of COVID-19. These actions led to a severe impact on the global economy. Industrialists across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries.

Market Segmentation

The report delivers an acute breakdown of the market based on various segments such as Product, Application, , and region. The report includes market size and forecast for each segment by region/country for the years 2016–2028. Moreover, it also covers a thorough analysis of growth factors and opportunities impacting segmental growth.

Global Location-based Services (LBS) Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

The global Location-based Services (LBS) market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Location-based Services (LBS) market are Aruba Networks, Cisco, Google, Esri, IBM, Microsoft, Oracle, TomTom, Teldio, HERE, Ericsson, Foursquare, Navigine, AiRISTA Flow, Quuppa, Ubisense, Apple, Qualcomm, STANLEY Healthcare, Bharti Airtel LTD., Cisco Systems Inc., Microsoft Corporation, Google Inc., Oracle Corporation, Alcatel-Lucent SA.

About us

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