NEW YORK, Nov. 16, 2015 /PRNewswire/ -- Location Based Services and Real-Time Location Systems market to reach USD 54.95 billion by 2020
This study has been done on a global level broadly covering into four regions, namely, Americas, Europe, APAC, and RoW, and the market is projected to grow from USD 11.36 billion in 2015 to USD 54.95 billion by 2020, at a CAGR of 37.1% during the period. The market is being driven by factors such as increased focus on competitive intelligence, and growing amount of spatial data as well as prompt availability of analytical tools.
"Healthcare and life sciences sector projected to showcase robust growth in the LBS and RTLS market": This sector is a major application area that generates huge amounts of data. Geographic Information System (GIS) technology offers varied solutions including ones that improve field data collection and reporting and others that support disease surveillance and analysis using online mapping and spatial statistics.
"APAC region expected to experience extensive growth opportunities in the next few years": In the rapidly growing economies such as China and India, the growing demand for enhanced supply chain operations and the governments' efforts to standardize the LBS and RTLS technology 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.
"IoT and smart wearable devices to play a significant role in augmenting the growth prospects in the Location-Based Services (LBS) and Real-Time Location Systems (RTLS) market"
In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people in Tier 1 (36%), Tier 2 (21%) and Tier 3 (43%) companies. The interviews were conducted with various key people such as C-level (75%), Director Level (15%) and other executives (10%) operating in the LBS and RTLS marketplace. The primary interviews were conducted worldwide covering regions such as North America (10%), Europe (20%), APAC (20%), and RoW (30%).
Increasing trend of wearable devices, evolution of IoT, along with growing support from government has encouraged tremendous opportunities for growth in the next five years. The various key LBS and RTLS vendors and service providers profiled in the report are as follows:
1. Cisco Systems
2. Google Inc. (Alphabet Inc.)
4. Microsoft Corporation
5. Oracle Corporation
7. Foursquare Labs, Inc.
8. HERE (Nokia)
9. Zebra Technologies Corporation
The report will help the market leaders/new entrants in this market in the following ways –
1. The report segments the LBS and RTLS market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments. The market numbers are further split across 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 and acquisitions. Besides, there are company profiles of 10 players offering services 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.
3. The report would help understand the pulse of the market. The report provides information on key market drivers, restraints, challenges, and opportunities.
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