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Location-Based Services and Real-Time Location Systems Market by Location Type, Software, Hardware, Service, Vertical And Region - Global Forecast to 2023

Location-Based Services and Real-Time Location Systems Market: Global Forecast until 2023

  • July 2018
  • 183 pages
  • ID: 4507362
In this report:
The retail and eCommerce segment holds the largest market size and is expected to grow from USD ##,##.## million in 2018 to USD ##,##.## million by 2023, at a CAGR of ##.##%.
The global LBS and RTLS market is expected to grow from USD ##.## billion in 2018 to USD ##.## billion by 2023, at a Compound Annual Growth Rate (CAGR) of ##.##% during the forecast period.


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The Location-Based Services and Real-Time Location Systems market is expected to rise at a Compound Annual Increase rate of 25.40 percent during the forecast period

The overall LBS and RTLS market size is forecasted to grow from ~$22.2B in 2018 to ~$68.8B by 2023, at a compound annual growth rate (CAGR) of 25.4% during the forecast horizon. The main factors that are forecast to steer the increase of the LBS and RTLS market contain the increasing demand for mobile and web apps, growing use of smartphones for advertisement, and implementation of digital transformation strategy. Additionally, rising investment in analytics technology is one of the biggest and most important factors resulting in the market rise. Nevertheless, lack of skilled professionals and non-uniformity of data hamper the market increase.

Retail and eCommerce vertical is anticipated to have the biggest market share during the outlook period

LBS and RTLS play a vital role in managing retail apps to offer an enhanced user experience.LBS and RTLS in retail improve the traditional way of understanding customer buying behavior and offer a digital platform for clients and sellers to interact and build trustworthy relationship.

For example, social networking platforms including Facebook, Instagram, and WhatsApp have changed the shopping experience with the help of LBS and RTLS technologies, which make it easier to understand user interest and offer them the right product, advertisement, or campaign that influences the customer and improves the whole buying-selling experience.

North America (NA) is forecasted to have the biggest industry size and Asia-Pacific is expected to grow at the maximal rate during the estimate period

The high market share of the North American area is due to the presence of a important number of LBS vendors in the US area.The territory has also witnessed the proliferation of startups in LBS and RTLS market.

Out of 340 startups analyzed, 79.0 percent startups are from the North American area. Moreover, due to robust development in infrastructures in terms of smart cities, smart buildings, and smart transportation in the area, the US market for LBS and RTLS is forecasted to dominate the global North American market.

Asia Pacific (APAC) is anticipated to grow at the highest compound annual growth rate (CAGR) during the outlook period, which is attributed to the fact that it is attesting a dynamic change in the adoption of LBS and RTLS across multiple verticals.Existence of a big population, developing technology, and important rise in countries including China (CN), India (IN), Australia (AU), Japan (JP), Singapore (SG), and Hong Kong (HK) are the main contributing factors for the increase of LBS and RTLS market, in this area.

Institutions in the Asia-Pacific regions are focusing on customer interests and their preferences. The mobile and internet are being widely used as main means for connectivity.

In the process of finding out and checking the market size of different segments and sub-segments collected by secondary research, extensive primary audit sessions were managed with main people. The break-up of the profiles of the primary participants is like:

• By Organization: Tier 1: 30 %, Tier 2: 40.0 percent, and Tier 3: 30.0 percent

• By Description: C-suite: 72.0 percent, D-level: 14.0 percent, and Others: 14.0 percent

• By Area: North America continent: 57.0 percent, Europe (EU): 14.0 percent, and Asia-Pac: 29.0 percent

The LBS and RTLS market includes different main vendors, including Cisco Systems (NASDAQ:CSCO), Google, IBM (NYSE:IBM), Microsoft, Oracle Corporation (NYSE:ORCL), TomTom, Apple, Esri, Ericsson (NASDAQ:ERIC), Qualcomm, Zebra, Ubisense, Pitney Bowes, Baidu, Foursquare, Centrak, Ekahau, Galigeo, HERE, Teldio, Navigine, Living Map, infsoft, AiRISTA, and Quuppa.

Segment Research

The analysis includes a detailed competitive analysis of the top players in the LBS and RTLS market together with their company descriptions, recent evolutions, and key industries strategies. The document breaks down the LBS and RTLS market by component, software, services, location type, vertical, and area.

Why acquiring this study can help you:

The LBS and RTLS market is broken down on the basis of location types, components, software, services, verticals, and localities.

The industry report is expected to benefit the market top players/new sector entrants in the LBS and RTLS market in these ways:

1. The LBS and RTLS market revenue stream has been estimated based on the incomes generated by vendors offering analytics solution and associated services. The study offers the best approximations of the revenue data for the global market and the sub-segments.

2. The analysis benefits the partners distinguish the pulse of the sector and offers them with info on the main market drivers, market restraints, opportunities, and alternatives.

3. The market research is expected to benefit the partners comprehend the players and obtain additional insights to enhance their market position. The competitive outlook section includes the competitor ecosystem, new industry product developments, alliances, and mergers and acquisitions.

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