Location-based Services (LBS) Market
Location-based Services (LBS) Market by Product (Hardware, Software, Services) by Application (Location-based Advertising, Business Intelligence & Analytics, Fleet Management, Mapping & Navigation, Local Search & Information, Social Networking & Entertainment, Proximity Marketing, Asset Tracking, Others) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028
The report delivers an acute breakdown of the market based on various segments such as Product, Application, , and region. The report includes market size and forecast for each segment by region/country for the years 2016–2028. Moreover, it also covers a thorough analysis of growth factors and opportunities impacting segmental growth.
On the basis of Product, the market is divided into Hardware, Software, Services. Services dominated the global Location-based Services (LBS) market in 2020 and is projected to witness the same trend during the forecast period.
Based on Application, the market is segmented into Location-based Advertising, Business Intelligence & Analytics, Fleet Management, Mapping & Navigation, Local Search & Information, Social Networking & Entertainment, Proximity Marketing, Asset Tracking, Others. Mapping & Navigation accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028.
Global Location-based Services (LBS) Market: Product Segment Analysis
Global Location-based Services (LBS) Market: Application Segment Analysis
- Location-based Advertising
- Business Intelligence & Analytics
- Fleet Management
- Mapping & Navigation
- Local Search & Information
- Social Networking & Entertainment
- Proximity Marketing
- Asset Tracking
Frequently Asked Questions
the global demand for Location-based Services (LBS)
in terms of revenue?
The global Location-based Services (LBS) valued at 16.93 Billion in 2020 and is expected to reach 4.96 Billion in 2028 growing at a CAGR of 16.98%
are the prominent players
in the market?
The prominent players in the market are Aruba Networks, Cisco, Google, Esri, IBM, Microsoft, Oracle, TomTom, Teldio, HERE, Ericsson, Foursquare, Navigine, AiRISTA Flow, Quuppa, Ubisense, Apple, Qualcomm, STANLEY Healthcare, Bharti Airtel LTD., Cisco Systems Inc., Microsoft Corporation, Google Inc., Oracle Corporation, Alcatel-Lucent SA..
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 16.98% between 2021 and 2028.
the driving factors
fueling the growth of the market.
The driving factors of the Location-based Services (LBS) include
- Arrival of digitalization increases the demand for location-based services (LBS), due to its ability to offer customized solutions marketing strategies, which, in turn, develops new opportunities in terms of revenue growth for market players choosing for these solutions.
- The rising adoption of social media, smartphones, and the easy accessibility of GPS technology is anticipated to fuel market growth for Location-based Services (LBS). Location-based services help increasing analytical solution demand, due to their capability to analyze and provide real-time geo-data.
region accounted for the
largest share in the market?
North America was the leading regional segment of the Location-based Services (LBS) in 2020.