Location-Based Services Market to Record USD 152.95 Mn Growth | Alibaba Group Holding Ltd., Alphabet Inc., and Apple Inc. emerge as dominant players | Technavio
Friday, January 14, 2022
NEW YORK, Jan. 6, 2022 /PRNewswire/ -- Location-based services Market Facts at a Glance-
-- Total Pages: 120
-- Companies: 10+ - Including Alibaba Group Holding Ltd., Alphabet Inc.,
Apple Inc., AT&T Inc., Cisco Systems Inc., Facebook Inc., Foursquare
Labs Inc., HERE Global BV, International Business Machines Corp., and
-- Coverage: Key drivers, trends, and challenges; Product insights & news;
Value chain analysis; Parent market analysis; Vendor landscape; COVID
impact & recovery analysis
-- Segments: Type (outdoor and indoor)
-- Geographies: North America, Europe, APAC, South America, and MEA
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According to the recent market study by Technavio, the Location-Based Services Market Size is expected to increase by USD 152.95 billion from 2020 to 2025, with an accelerated CAGR of 31.04%. The report provides a detailed analysis of drivers & opportunities, top winning strategies, competitive scenario, future market trends, market size & estimations, and major investment pockets.
North America will register the highest growth rate, occupying 49% of the global market share. The US is the key market for location-based services in North America. However, the market growth in this region will be slower than the growth of the market in APAC.
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The location-based services market is fragmented and highly competitive. The market includes diverse players such as location providers, location technology developers, digital map providers, platform providers, application developers, navigation providers, mobile operators, proximity marketing providers, and mobile search providers. The market is also witnessing an increase in the number of start-ups offering innovative location-based services, which is further increasing the competition.
Alibaba Group Holding Ltd.: The company offers a wide range of LBS products such as GPS tracker, Fleet Asset Management Software Development Service, among various others.
Alphabet Inc.: The company offers Google Location Services (GLS).
Apple Inc.: The company offers indoor maps, 3D digital maps, Flyover, Siri, among various others.
AT&T Inc.: The company offers Donde, a location-based messaging service for mobile devices.
Cisco Systems Inc.: The company offers Cisco Location Appliance.
Find additional highlights on the vendors and their product offerings. Download Free Sample Report
Regional Market Outlook
The location-based services market growth in North America will be significant during the forecast period. The rapid adoption of mobile media by enterprises for promoting products and services coupled with the increasing adoption of location-enabled searches by individual users is driving the market growth in North America. The US is the prominent market for location-based services market in North America.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Drivers & Trends Driving the Market-
-- Location-Based Services Market Driver:
-- Rise in demand for personal and enterprise navigation services:
The use of navigation systems has enabled logistics companies to track the movement of goods across the world using real-time sensors, which is also helping them in enhancing their operational efficiencies. In addition, the rising availability and the declining cost smartphones have significantly increased the demand for personal and enterprise navigation services for multiple purposes. All these factors are increasing the demand for location-based services, which is driving the growth of the market.
-- Location-Based Services Market Challenge:
-- Increasing use of LED fixtures by LBS:
The integration of LED fixtures with LBS solutions is one of the main trends gaining traction in the market. The use of LED fixtures for LBS removes the need for additional hardware infrastructure for lighting, thereby reducing costs. It helps users locate the products or services quickly. The LED fixtures can also be used to communicate with consumers' smartphones to provide directions to varied services in airports, museums, and retail shops. This trend is expected to have a positive impact on the growth of the market during the forecast period.
Find additional information about various other market Drivers & Trends mentioned in our FREE sample report.
GPS Market by Application and Geography - Forecast and Analysis 2022-2026
Enterprise Indoor Location-based Services Market in US by Technology and Product - Forecast and Analysis 2021-2025
Location-Based Services (LBS) Market Scope
Page number 120
Base year 2020
Growth momentum & CAGR Accelerate at a CAGR of 31.04%
Market growth 2021-2025
USD 152.95 billion
YoY growth (%) 30.12
Regional analysis North America, Europe, APAC,
South America, and MEA
contribution North America at 49%
Key consumer countries US, China, Germany, UK, and Japan
Competitive landscape Leading companies, competitive
strategies, consumer engagement
Alibaba Group Holding Ltd.,
Alphabet Inc., Apple Inc., AT&T
Inc., Cisco Systems Inc.,
Facebook Inc., Foursquare Labs
Inc., HERE Global BV,
International Business Machines
Companies profiled Corp., and Microsoft Corp.
Parent market analysis, Market
growth inducers and obstacles,
Fast-growing and slow-growing
segment analysis, COVID-19
impact and future consumer
dynamics, market condition
analysis for the forecast
Market Dynamics period.
If our report has not included
the data that you are looking
for, you can reach out to our
analysts and get segments
Customization purview customized.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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