Location-based Services Market to Reach $157.34 Bn, Globally, by 2026 at 27.1% CAGR: Allied Market Research

News provided by

Oct 31, 2019, 09:50 ET

PORTLAND, Oregon, Oct. 31, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Location-based Services Market by Component (Hardware, Software, and Services), Technology (GPS, Assisted GPS (A-GPS), Enhanced GPS (E-GPS), Enhanced Observed Time Difference, Observed Time Difference, Cell ID, Wi-Fi, and Others), Application (Location-based Advertising, Business Intelligence & Analytics, Fleet Management, Mapping and Navigation, Local Search & Information, Social Networking & Entertainment, Proximity Marketing, Asset Tracking, and Others), and Industry Vertical (Transportation & Logistics, Manufacturing, Government & Public Utilities, Retail, Healthcare & Life Sciences, Media & Entertainment, IT & Telecom, BFSI, Hospitality, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026." According to the report, the global location-based services market generated $23.74 billion in 2018, and is expected to generate $157.34 billion by 2026, registering a CAGR of 27.1% from 2019 to 2026.

Drivers, restraints, and opportunities

Diversified scope of applications, rise in demand for location-based services, surge in demand for smartphones, and proliferation of business analytics solutions drive the growth of the global location-based services market. However, operational challenges and expensive real-time LBS restrain the market growth. On the other hand, emergence of new applications requiring LBS and technological advancements create new opportunities in the market.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/238

Hardware segment to maintain its dominating position during the forecast period

Based on component, the hardware segment held the highest share in the global location-based services market in 2018, contributing for more than two-fifths of the total share, and will maintain its dominating position during the forecast period. This is due to surge in number of devices that deploy location-based services such as IoT. However, the services segment is expected to register the fastest rate with a CAGR of 29.0% from 2019 to 2026, owing to preferences for all-in-one suite.

Mapping and navigation segment contributed the highest share in 2018

Based on applications, the mapping and navigation segment accounted for nearly one-sixth of the total share of the global location-based services market in 2018. This is due to proliferation of maps and navigational applications in smartphones and IoT devices. However, the business intelligence & analytics segment will retain its highest market share by 2026. On the other hand, the location-based advertising segment is projected to grow at the largest CAGR of 31.1% from 2019 to 2026, owing to its functionalities such as close proximity advertising and others.

For purchase inquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/238

North America to maintain its lead during the forecast period

Based on region, North America accounted for the highest share, accounting for more than two-fifths of the global location-based services market in 2018, and will maintain its lead during the forecast period. This is due to presence of the largest market players in the region. On the other hand, Asia-Pacific is expected to register the highest CAGR of 30.8% from 2019 to 2026. This is due to penetration of location-based software into smart devices including tablets and smartphones and increase in deployment of location-based services in various industries including manufacturing, real estate, construction, tourism, and others.

Leading Market Players

Alcatel-Lucent SA
Apple, Inc.
AT&T Inc.
Bharti Airtel, Ltd.
Cisco Systems, Inc.
Google Inc.
HERE
International Business Machines Corporation
Microsoft Corporation
Oracle Corporation
Qualcomm Inc.

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Car GPS navigation System Market Expected to Reach $1,237Million by 2023

Fleet Management Market Expected to Exhibit a 24.5% CAGR by 2022

Ground to Air On-Board Connectivity Market Expected to Reach $24.44 Billion by 2026

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Follow Us on: LinkedIn Twitter

Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free):
+1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]