LOCATION BASED SERVICES MARKET TO REACH USD 130.8 BILLION BY 2024 | CAGR 32.6% – FORENCIS RESEARCH

Location Based Services Market Size, Share, Trends, Growth, Analysis, Research

Global Location Based Services Market: Key Highlights

  • According to the new market research report Location Based Services Market by Technology (Network Computing), By Solution (Maps and Navigation, Tracking Services, Information Services, Analytics,  Emergency support and Advertising), By Location (Indoor and Outdoor), By Component (Software, Services and Hardware), By End-User (Government, Automotive, BFSI, Retail, Media & Entertainment, Manufacturing and Others), By Region (Asia-Pacific, North America, Europe, Middle East & Africa, South America) – Global Forecast 2017 to 2024)”, the global Location Based Services Market is estimated to reach USD 130.8 Billion by 2024 at a CAGR of around 32.6% during the review period.
  • These services provide real-time geographic data from the technology that provide the information, security and entertainment. Its allows customers to find the direction, shops, stores, place and events
  • However, geographic limitations issues act as a restrain to the market during the forecast period remain a major restraining factor for the growth of the location based services Market

Location Based Services Market

Global Location Based Services Market: Key Market Dynamics

  • Rising demand for application programming interface (API) helps enhance the map applications for share the data with other application is lead to increase the market demand.
  • Growing demand for real-time location system (RTLS) support the hospital services for field data collection, and spatial statistics. Also with the increase in number of smart phone user, intelligence market and adoption in business intelligence which surge the growth of the market.
  • Security and privacy issues providers servers the capable of continuously tracking the location of a use which may hamper the market growth.
  • Adoption of 5G Technology is projected have ability to support highly accurate 3D location for many use cases like drones and vehicles which may advance the forecast market growth.

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Global Location Based Services Market: Regional Overview

  • Asia-Pacific

The region is signified to the presence of a highest number of smart phone users in the region also the region is poised to the rapid increase in the projected period. However, Asia-pacific provide productive opportunities for the advancement of location-based services in infrastructural development of shopping malls and commercial offices.

Furthermore, advancing penetration in the region for the retail sector is mostly supplement the regional market.

  • Europe

The region is examine to be one of the major technological advance with the higher rate of adoption in new artificial

Europe incorporate technology using organization which are mostly focused on location-based services. Also the business operation for companies has modernized and efficient with the location information of the customer and vendors. Moreover, with the growing demand for services advance business, supply chain and enterprise operations activities. Also, the UK is one of the leading market player in adoption new technologies to advance the public services.

Global Location Based Services Market: Key Players Overview

  • Microsoft Corporation:

Microsoft corporation is one of the major leading technologies company which provides Windows operating systems, Office productivity and cloud services. Also the company develops, manufacture and license the products. The company builds and integrated location-based service with Azure in cloud technology. Also, the company is building a digital infrastructure on cloud on partners with smart cities, automotive and location industries. In 2019, the company TomTom has expanded its partnership of cloud offering technology in location-based services with Microsoft.

  • Qualcomm Technologies, Inc.:

Qualcomm Technologies, Inc. is a multinational corporation which provide services in manufacturing of semiconductors and solid state devices.  The Qualcomm Location enable the devices to find the location most accurately and quickly also whether device is not getting strong GPS signal. In 2020, on a demand of 4G smartphone the company has launches three new Snapdragon mobile platform to address the ongoing demand.

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Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. Our robust research methodology is designed to constantly map the high growth markets in various industries. This facilitates enhanced decision-making capabilities to our clients. We strive to help our clients to foray into uncharted space to attain increased revenue growth for the present as well as the future.

 

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Published : 2020-01-15