Location-Based Services Market is forecasted to grow by USD 66.61 Billion during 2023-2026

Posted on Sep 14 2023 5:31 AM

"Location-Based Services (LBS) Market Size, Share & Industry Analysis, By Component (Hardware, Software, Services), By Location Type (Indoor, Outdoor), By Application (Emergency Services, Tracking Services, Navigantertainment Services, Advertising/Promotion Services, Others), By End-User (BFSI, IT and Telecommunications, Retail, Transportation and Logistics, Government, Healthcare and Life Sciences, Manufacturing and Others) and Regional Forecast, 2019-2026 "

The global “Location-Based Services Market Size” is expected to rise with an impressive CAGR and generate the highest revenue by 2030. Fortune Business Insights™ in its latest report published this information. The report is titled "Location-Based Services Market Size, Share and Revenue Forecast, 2023-2026". The report discusses research objectives, research scope, methodology, timeline and challenges during the entire forecast period.

The global location-based services (LBS) market size stood at USD 16.14 billion in 2018 and is projected to reach USD 66.61 billion by 2026, exhibiting a CAGR of 20.0% during the forecast period.

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Report Highlights:

  • A comprehensive overview of the Location-Based Services Market
  • Significant factors boosting, restricting, challenging and providing an opportunity to the market
  • Key insights and major industry developments
  • Significant players functioning in the Location-Based Services Market
  • Major strategies adopted by players such as the launch of new products for better revenue generation, company collaborations, and others
  • Other market trends

Driving Factor:

Increasing Number of Mergers and Acquisitions to Aid Growth

The report encompasses several factors that have contributed to the growth of the market in recent years. Among all factors, the increasing number of mergers and acquisitions have had the highest impact on market growth. In May 2019, Foursquare announced the acquisition of Placed, a company engaged in location analytics. With this acquisition, Placed will gain access to Foursquare’s massive global customer reach. The company will strengthen its business hold in the United States. This acquisition will not only help the company generate substantial location based services market revenue but will have a direct impact on the growth of the global market in the coming years.

Regional Analysis for Location-Based Services Market:

  • North America (the USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Latin America (Brazil, Mexico and Rest of Latin America)

The Location-Based Services Market research report offers a complete assessment of the industry. The projections included in the report have been determined utilizing demonstrated research philosophies and presumptions.

Location-Based Services Market Segments:

By Component

  • Hardware
  • Software
  • Services
  • Integration and Implementation
  • Support and Maintenance
  • Consulting

By Location Type

  • Indoor
  • Outdoor

By Application

  • Emergency Services
  • Tracking Services
  • Navigation Services
  • Social Media Services
  • Information Services
  • Gaming/Entertainment Services
  • Advertising/Promotion Services
  • Others

By End User

  • Banking, Financial Services, and Insurance(BFSI)
  • IT and Telecommunications
  • Retail
  • Transportation and Logistics
  • Government
  • Healthcare and Life Sciences
  • Manufacturing
  • Others

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Top Smart Location-Based Services Market Size Manufacturers covered in the Market Report include:

  • AT&T Inc.
  • Cisco Systems, Inc.
  • Telefonaktiebolaget LM Ericsson
  • IBM Corporation
  • Alcatel-Lucent Enterprise (ALE)
  • Google LLC
  • HERE Global BV
  • Intel Corporation
  • Microsoft Corporation
  • Qualcomm Technologies Inc.
  • Eseye Limited
  • Apple Inc.

Some of the Key Questions Answered in this Report:

  • Detailed Overview of the Location-Based Services Market will help deliver clients and businesses making strategies.
  • Influencing factors that are thriving demand and latest trends running in the market.
  • Location-Based Services Market forecast for global market split into segments like region, product, applications, end-user, technology, etc.
  • What trends, challenges and barriers will impact the development and sizing of the Global Location-Based Services Market?
  • SWOT Analysis of each defined key player along with its profile and Porter’s five forces analysis to complement the same.
  • What is the Location-Based Services Market growth momentum or market carries during the forecast period?
  • Which region may tap the highest market share in the coming era?
  • Which application/end-user category or Product Type may seek incremental growth prospects?
  • What focused approach and constraints are holding the Location-Based Services Market demand?

Research Methodology:

We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country-level is derived from the most credible published sources and through interviews with the right stakeholders.

The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.

Major Table of Contents for Location-Based Services Market Research Report:

  • Introduction
  • Executive Summary
  • Market Dynamics
  • Key Location-Based Services Market Insights
  • Global Market Analysis, Insights and Forecast
  • North America Market Analysis, Insights and Forecast
  • Europe Market Analysis, Insights and Forecast
  • Asia Pacific Market Analysis, Insights and Forecast
  • The Middle East and Africa Market Analysis, Insights and Forecast
  • Latin America Market Analysis, Insights and Forecast
  • Competitive Landscape
  • Global Location-Based Services Market Revenue Share Analysis, By Key Players, 2023
  • Company Profiles
  • Conclusion

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