Global Location Based Services Market Status and Prospect, Forecast 2018 to 2026

Location based services use real-time geo-data from a mobile device or smartphone to provide information, entertainment or security. ...

Location based services use real-time geo-data from a mobile device or smartphone to provide information, entertainment or security. Location based services are used in different conditions such as health, indoor object search, entertainment, work and personal life. Location based services (LBS) use a smartphone GPS technology (https://marketresearch.biz/report/location-based-services-market/) to track location of the individual. Also, LBS enables user to access social networking sites and reach advertisers based on their location-based apps.

Increase in number of mobile computing devices, rise in demand for personal and enterprise navigation services, and integration of location-based search with social networking websites are major factors driving growth of the global location based services market. In addition, increase in popularity of social networking, advancement in networks such as 4G and 5G, and evolution of Internet of Things (IOT) are some factors expected to drive growth of global location based services market during forecast period.

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Growing concerns over privacy is expected to restrain growth of the global location based services market. In addition, increasing cyberattacks on government institution, high cost of geolocation technology and limited user awareness of LBS benefits are some other factors hindering growth of the global location based services market during forecast period.

The global location based services market is segmented on the basis of location type, technology, services, application, component, and region.

North America accounts for largest revenue contribution to the global location based services market. This is attributed to growing use of indoor LBS solutions in the retail sector in the region. However, the Asia Pacific market is projected to register highest CAGR in terms of revenue during the forecast period due to rapid adoption of mobile media by enterprises coupled with increasing usage of location-enabled searches by individual users in the region.

Key players in the global location based services market include Alibaba, Apple, Foursquare, Google, HERE, Aisle411, Baidu, Etisalat, Facebook, and MazeMap.


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by Krutika Bhoot (few months ago!)

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