Location-based Services (LBS) Market 2024-2028
The location-based services (LBS) market is forecasted to grow by USD 296.3 bn during 2023-2028, accelerating at a CAGR of 32.77% during the forecast period. The report on the location-based services (LBS) market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rise in demand for personal and enterprise navigation services, high penetration of mobile computing devices, and rapid adoption of beacon technology.
Technavio's location-based services (LBS) market is segmented as below:
- By Component
- Hardware
- Software
- Services
- By Type
- Outdoor
- Indoor
- By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
This study identifies the growing popularity of location-based gaming as one of the prime reasons driving the location-based services (LBS) market growth during the next few years. Also, increasing popularity of cloud-based big data analytics and use of analytics for business process optimization will lead to sizable demand in the market.
The report on the location-based services (LBS) market covers the following areas:
- Location-based services (LBS) market sizing
- Location-based services (LBS) market forecast
- Location-based services (LBS) market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading location-based services (LBS) market vendors that include AiRISTA Flow Inc., Alphabet Inc., Apple Inc., AT and T Inc., Bayerische Motoren Werke AG, Cisco Systems Inc., Emanate Wireless, Esri Global Inc., Foursquare Labs Inc., General Electric Co., Halma Plc, Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., Oracle Corp., Qualcomm Inc., Siemens AG, Telefonaktiebolaget LM Ericsson, Zebra Technologies Corp., and Ziff Davis Inc.. Also, the location-based services (LBS) market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.