PUBLISHER: Allied Market Research | PRODUCT CODE: 1298171
PUBLISHER: Allied Market Research | PRODUCT CODE: 1298171
A location-based service (LBS) is a software solution that determines the precise location of a mobile or wireless device. Moreover, these services are utilized for navigation and object, person, and vehicle monitoring, as well as location-based marketing. A smartphone's real-time geo-data points can also be accessed by an LBS to obtain information, entertainment, or security data for later processing.
Increase in adoption of social media, smart phones, and easy availability of GPS and emergence of location-based technology is boosting the growth of the global location-based services market. In addition, the increase in number of smartphone users and internet accessibility is positively impacts growth of the location-based services market. However, high cost of installation and maintenance and operational challenges is hampering the location-based services market growth. On the contrary, the growing penetration of 3G and 4G networks and continuous increase in the number of internet users is expected to offer remunerative opportunities for expansion of the location-based services market during the forecast period.
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.
The key players that operate in the location-based services market are: 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 industry.