Global Location-based services (LBS) and real time location systems (RTLS) Market – Industry Trends and Forecast to 2024

The Global Location-based services (LBS) and real time location systems (RTLS) Market accounted for USD 16.2 billion in 2016 growing at a CAGR of 39.2% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic year 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Market Definition: Global Location-based services (LBS) and real time location systems (RTLS) Market

Location-based services (LBS)  is a location based software which requires the real location of the mobile device and through this the user can easily get information about different locations for instance, the nearest hospital, bank or ATM. Real time location systems (RTLS)  helps in detecting the current geographical location of an object. RTLS and LBS are widely applicable in BFSI, defense, government and public utilities, healthcare and life sciences, industrial manufacturing, media and entertainment, retail and e-commerce, transportation and logistics, and others. Higher adoption of business intelligence and increasing market competitiveness may act as the major driver in the growth of location-based services (LBS) and real time location systems (RTLS) market. On the other side, lack of awareness, expertise, and other operational challenges may hamper the market.

Major Market Drivers & Restraints: Global Location-based services (LBS) and real time location systems (RTLS) Market

Availability of spatial data and analytical tools
Higher adoption of business intelligence and increasing market competitiveness
Increasing use of technologies
Increasing applications in numerous industry sectors
Higher adoption of location-based apps among consumers
High upfront costs of real-time location systems
Lack of awareness, expertise, and other operational challenges

Market Segmentation: Global Location-based services (LBS) and real time location systems (RTLS) Market

The global location-based services (LBS) and real time location systems (RTLS) market is segmented on the basis of location type into indoor location, and outdoor location.

On the basis of technology, the global location-based services (LBS) and real time location systems (RTLS) market is segmented into satellite, microwave, and infrared remote sensing, OTDOA and E-OTD, RFID and NFC, context-aware technology, Wi-Fi/WLAN, UWB, BT/BLE, beacons, and A-GPS, and others.

On the basis of hardware, the global location-based services (LBS) and real time location systems (RTLS) market is segmented into sensors and readers, tags and transponders, and others.

On the basis of software, the global location-based services (LBS) and real time location systems (RTLS) market is segmented into geocoding and reverse geocoding, geospatial transformation and load, reporting and visualization, location analytics, context accelerator and geofencing, risk analytics and threat prevention, and others.

On the basis of service, the global location-based services (LBS) and real time location systems (RTLS) market is segmented into consulting and advisory services, deployment and integration, and application support and maintenance.

On the basis of application area, the global location-based services (LBS) and real time location systems (RTLS) market is segmented into BFSI, defense, government and public utilities, healthcare and life sciences, industrial manufacturing, media and entertainment, retail and e-commerce, transportation and logistics, and others.

On the basis of geography, the global location-based services (LBS) and real time location systems (RTLS) market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific, and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others. In 2017, North America is expected to dominate the market.

Company Share Analysis: Global Location-based services (LBS) and real time location systems (RTLS) Market

The report for location-based services (LBS) and real time location systems (RTLS) market include detailed vendor level analysis for market shares in 2016 for Global, North America, Europe, Asia Pacific, Middle East and Africa and South America specifically. Also impact and development analysis of key vendors is registered in the market and factored on the basis of Vendor Positioning Grid Analysis which measures the vendors strengths and opportunities against present market challenges, measure providers ability to identify or satisfy present market needs, map providers market vision to current and upcoming market dynamics among others. The report also measures technology life line curve and market time line to analyze and do more affective investments.

Major Market Competitors: Global Location-based services (LBS) and real time location systems (RTLS) Market

Some of the major players of the global location-based services (LBS) and real time location systems (RTLS)  market are Cisco Systems, Inc., Google, Inc., IBM Corporation, Microsoft Corporation, Oracle, ESRI, ZIH Corp, Qualcomm Technologies, Inc., Ericsson, Teldio Corp., and others.

Research Methodology: Global Location-based services (LBS) and real time location systems (RTLS) Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. 

Global Location-based services (LBS) and real time location systems (RTLS) Market – Industry Trends and Forecast to 2024

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