Global LBS and RTLS Market Insights 2020-2025: A $39.19 Billion Opportunity Assessment
DUBLIN, Aug. 26, 2020 /PRNewswire/ -- The "Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market by Component (Platform, Services and Hardware), Location Type (Indoor and Outdoor), Application, Vertical, Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global LBS and RTLS market is expected to grow from USD 17,776 million in 2020 to USD 39,190 million by 2025, at a CAGR of 17.1% during the forecast period.
Various applications of geospatial data to drive the LBS and RTLS market growth
Generally, spatial data represents the location, size, and shape of objects present on Earth, such as buildings, lakes, mountains, or townships. It is considered that spatial data and analysis is extremely essential for companies to understand changing business trends and challenges across regions, which significantly drives the market growth. The processing time in decision-making is often long, leading to flawed assumptions, which limits the applicability of information.
The increasing awareness among business executives about the benefits of LBS and RTLS analytics has further bolstered the growth of the market. LBS and RTLS platforms assist business executives in processing vast volumes of spatial data and gathering real-time insights into various business functionalities, which, in turn, helps companies to quickly tackle changing business conditions. For example, in the retail industry, spatial data enables retailers to uncover relationships between stores, products, and customer types-across a range of different parameters or metrics-that affects sales performance.
By component, platform segment to account for the highest market share in 2020
By component, the platform segment is expected to hold the highest market share in 2020, owning to the Growing need of asset tracking. The rising demand for location analytics is encouraging market vendors to enhance the capabilities of their LBS and RTLS platforms in the market. These platforms help to localize, analyze, and act on the changing business conditions and trends. To increase agility, improve overall operations productivity, understand business trends, and reduce operational costs, many companies have started to invest in LBS and RTLS platform.
By service, deployment, and integration segment to hold the largest market size during the forecast period
Among services, the deployment and integration segment is expected to hold the largest market size during the forecast period, compared to the application support and maintenance, and consulting and training segment. Deployment and integration services take care of seamless integration of each location-based software and system, regardless of its technology. System integration provides facilities and frameworks for the integration of various platforms with third-party environments. This integration allows applications to run on other platforms and make indoor location-based solutions efficient and quick.
Among regions, Asia Pacific to grow at the highest CAGR during the forecast period
The market in Asia Pacific (APAC)is projected to grow at the highest CAGR during the forecast period, owing to the massive potential for the applications of LBS and RTLS solutions in sectors, such as government, manufacturing, transportation and logistics, and retail. The existence of a large population, developing technology, and high growth in countries, such as China, India, Australia, Japan, Singapore, and Hong Kong are the major contributing factors for the growth of the LBS and RTLS market in the APAC region. Organizations in APAC are focusing on customer interests and preferences. The usage of smartphones and the internet is widely used as a major means of connectivity.
Key Topics Covered
1 Introduction
1.1 Introduction to COVID-19
1.2 COVID-19 Health Assessment
1.3 COVID-19 Economic Assessment
1.4 Objectives of the Study
1.5 Market Definition
1.6 Market Scope
1.7 Currency Considered
1.8 Stakeholders
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Global LBS and RTLS Market
4.2 Market Share, by Component, 2020
4.3 Market Share, by Service, 2020 Vs. 2025
4.4 Market Share, by Location Type, 2020
4.5 Market Share, by Application, 2020 Vs. 2025
4.6 Market Share, by Vertical, 2020 Vs. 2025
4.7 Market: Market Investment Scenario (2020-2025)
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Various Applications of Geospatial Data Driving the Market Growth
5.2.1.2 Growing Demand for LBS and RTLS for Industry Applications
5.2.1.3 Proliferation of Social Media, Smartphones, and Location-Based Apps Among Consumers
5.2.1.4 Growing Demand for Geomarketing
5.2.1.5 Emergence of Ride-Haling Services
5.2.2 Restraints
5.2.2.1 Stringent Government Rules and Regulations
5.2.3 Opportunities
5.2.3.1 BLE and UWB for Indoor Proximity Services
5.2.3.2 Use of 5G for LBS
5.2.3.3 Opportunities and Applications in Industry 4.0
5.2.4 Challenges
5.2.4.1 Privacy and Security Concerns
5.2.4.2 Designing LBS and RTLS Solutions to Fulfill High Accuracy, Long-Range, and Low-Power Consumption Requirements Simultaneously
5.3 Industry Trends
5.3.1 Future Outlook: LBS and RTLS Market
5.3.2 Value Chain Analysis
5.3.3 Standards and Regulations
5.3.3.1 Standardization Bodies
5.3.3.1.1 Open Geospatial Consortium
5.3.3.1.2 Internet Engineering Task Force
5.3.3.1.3 Institute of Electrical and Electronics Engineers
5.3.3.1.4 World Wide Web Consortium
5.3.3.2 Standards
5.3.4 LBS and RTLS Applications and Use Cases
5.3.4.1 LBS and RTLS Applications
5.3.4.2 LBS and RTLS Use Cases
5.3.5 LBS and RTLS Technologies
5.3.5.1 Satellite, Microwave, and Infrared Remote Sensing
5.3.5.2 OTDOA and E-OTD
5.3.5.3 RFID and NFC
5.3.5.4 Context-Aware Technologies
5.3.5.5 Wi-Fi/WLAN, UWB, BT/BLE, Beacons, and A-GPS
5.3.5.6 Others
6 LBS and RTLS Market, by Component
6.1 Introduction
6.2 Platform
6.3 Services
6.4 Hardware
7 LBS and RTLS Market, by Location Type
7.1 Introduction
7.2 Outdoor
7.3 Indoor
8 LBS and RTLS Market, by Application
8.1 Introduction
8.2 Tracking and Navigation
8.3 Marketing and Advertising
8.4 Location-Based Social Networks
8.5 Location-Based Health Monitoring
8.6 Others
9 LBS and RTLS Market, by Vertical
9.1 Introduction
9.2 Transportation and Logistics
9.3 Retail
9.4 Government
9.5 Manufacturing
9.6 Tourism and Hospitality
9.7 Healthcare and Life Sciences
9.8 Media and Entertainment
9.9 Others
10 LBS and RTLS Market, by Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Rest of the World
11 Competitive Landscape
11.1 Competitive Leadership Mapping
11.1.1 Visionary Leaders
11.1.2 Innovators
11.1.3 Dynamic Differentiators
11.1.4 Emerging Companies
11.2 Strength of Product Portfolio
11.3 Business Strategy Excellence
11.4 Ranking of Top Players in the LBS and RTLS Market, 2020
12 Company Profiles
12.1 Cisco
12.2 Google
12.3 IBM
12.4 Microsoft
12.5 Oracle
12.6 Ericsson
12.7 Qualcomm
12.8 Tomtom
12.9 Esri
12.10 Zebra Technologies
12.11 Teldio
12.12 Here
12.13 Foursquare
12.14 Navigine
12.15 Airista Flow
12.16 Quuppa
12.17 Ubisense
12.18 Apple
12.19 Stanley Healthcare
12.20 GE Healthcare
12.21 Centrak
12.22 Spime(Trimble)
12.23 Aruba Networks
12.24 KDDI
12.25 NTT Docomo
12.26 Leantegra
For more information about this report visit https://www.researchandmarkets.com/r/rrf0kz
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