Location-Based Services Market, By Location (Indoor, Outdoor), By End-User Industry (FMCG and e-commerce, Retail, Healthcare, IT and Telecom, Transportation, Oil and Gas, and Other End-user Industries), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, Africa)- Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030
Location-based services (LBS) are computer or mobile applications that provide information based on the device and user's geographic locations. They use real-time geodata from smartphones to offer interactive opportunities, entertainment, or security. LBS use GPS data, Wi-Fi data, cellular tower pings, and QR codes to identify the user's location.
The Location Based Services market is an expanding industry of specialized applications that use GPS, geospatial technology, and other information and communication technologies to provide targeted information based on geographic location. It is gaining popularity in a variety of industries, such as BFSI, education, retail & manufacturing, and transportation. It provides a wide range of services, including mapping, routing, assistance navigation, and tracking.
Market Dynamics:
Rise in use of mobile devices, growing advancements in wearable technologies along with business intelligence tools, and rise in availability of advanced navigation and mapping solutions are the factors expected to drive growth of the global location-based services market over the forecast period.
However, stringent regulations and standards, and high cost of installation and maintenance is expected to hamper growth of the global location-based services market over the forecast period.
Key features of the study:
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook