LONDON, Jan. 4, 2017 /PRNewswire/ -- "Higher adoption of business intelligence and increasing market competitiveness to play a significant role in augmenting the growth prospects in the location-based services and real-time location systems market"
This study has been done on a global level covering four regions, namely, the Americas, Europe, Asia-Pacific (APAC), & the Rest of the World (RoW) and is projected to grow from USD 15.04 billion in 2016 to USD 77.84 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 38.9% during the forecast period.
The market is being driven by factors, such as increased focus on competitive intelligence and prompt availability of analytical tools. High upfront costs of Real-
Time Location Systems (RTLS) is expected to be a restraining factor in the growth of the Location-Based Services (LBS) and RTLS market.
"Risk analytics and threat prevention software projected to showcase the fastest growth in the LBS and RTLS market"
LBS is based on several sensitive and personal location-based information, which require robust security from imminent threats. With advancements in LBS and RTLS technologies, these software solutions have become critical and are projected to have an increased demand from various sectors. Internet of Things (IoT) and connected vehicle concept is another area, where risk analytics and threat prevention software will play a major role.
"The APAC region is expected to have the highest CAGR during the forecast period"
In rapidly growing economies, such as China and India, the growing demand for enhancing the supply chain operations and the governments' efforts to standardize LBS and RTLS technologies are some of the growth drivers for the market. Additionally, huge population, developing technology hubs, and affluent countries, such as South Korea, Singapore, and Hong Kong have further enhanced growth prospects in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people:
- By Company: Tier 1- 36%, Tier 2- 21%, and Tier 3- 43%
- By Designation: C-Level- 75%, Director-Level- 15%, and Others- 10%
- By Region: North America- 70%, Europe- 15%, and APAC- 15%
The various key LBS and RTLS vendors and service providers profiled in the report are as follows:
1. Cisco Systems (U.S.)
2. Google Inc. (U.S.)
3. IBM (U.S.)
4. Microsoft Corporation (U.S.)
5. Oracle Corporation (U.S.)
6. ESRI (U.S.)
7. Ericsson (Sweden)
8. Teldio (U.S.)
9. Zebra Technologies Corporation
The report segments the LBS and RTLS market on the basis of location types, such as indoor and outdoor locations. By technology, such as satellite, microwave, and infrared remote sensing, Observed Time Difference of Arrival (OTDOA) & Enhanced Observed Time Difference (E-OTD), Radio Frequency Identification (RFID) & Near Field Communication (NFC), Context aware technology, WI-FI/WLAN, UWB, BT/BLE, Beacons, and A-GPS. By hardware, such as sensors & readers, tags & transponders, and other hardware components. By software, such as geocoding & reverse geocoding, Geospatial Transformation and Load (GTL), reporting & visualization, location analytics, context accelerator & geofencing, risk analytics, and threat prevention. By service, consulting & advisory services, deployment & integration, and application support & maintenance. By application area, such as Banking, Financial Services, & Insurance (BFSI), defense, government & public utilities, healthcare & life sciences, industrial manufacturing, media & entertainment, retail & e-commerce, and transportation & logistics. By region, such as the Americas, Europe, APAC, and RoW.
Reason to Buy the Report:
1. The report segments the LBS and RTLS market comprehensively and provides the closest approximations of the revenue numbers for the overall market & the subsegments. The market numbers are further split across the different verticals and regions.
2. This report will help them better understand the competitors and gain more insights to better position their businesses. There is a separate section on competitive landscape, including competitor ecosystem and mergers & acquisitions. Besides, there are company profiles of 10 players in this market. In this section, market internals are provided that can put them ahead of the competitors. The report also covers a list of 10 key innovators in the market.
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