Location-based services (LBS) and Real Time Location Systems (RTLS) Market Overview, Market Analysis and Market Drivers and Market Growth Will Hit at a CAGR of 39.2% till 2024

Global Location-based services (LBS) and real time location systems (RTLS) Market
In this Report Location-based services (LBS) and real time location systems (RTLS) Market and industry investigation, measure, diagram, development, standpoint, ace highlights, top players, contenders examination and application its assistance to develop your business at global level.

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. 

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Global Location-based services (LBS) and Real Time Location Systems (RTLS) Market, By Geography; Location Type (Indoor, Outdoor); Technology (Satellite, Microwave & Infrared Remote Sensing, OTDOA & E-OTD, RFID & NFC, Context-Aware Technology, Wi-Fi/WLAN, UWB, BT/BLE, Beacons, A-GPS); Hardware; Software; Service; Application Area – Industry Trends and Forecast to 2024 

Complete report on Global Location-based services (LBS) and Real Time Location Systems (RTLS) Market Research Report 2017-2024 spread across 350 Pages, profiling Top companies and supports with tables and figures 

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. 

Key Questions Answered in Global Location-based services (LBS) and Real Time Location Systems (RTLS) Market Report:- 

Our Report offers:- 

•             What will the market growth rate, Overview and Analysis by Type of Global Location-based servics (LBS) and Real Time Location Systems (RTLS) Market in 2024? 

•             What are the key factors driving, Analysis by Applications and Countries Global Location-based services (LBS) and Real Time Location Systems (RTLS) Market? 

•             What are Dynamics, This Overview Includes Analysis of Scope, and price analysis of top Vendors Profiles of Global Location-based services (LBS) and Real Time Location Systems (RTLS) Market? 

•             Who are Opportunities, Risk and Driving Force of Global Location-based services (LBS) and Real Time Location Systems (RTLS) Market? 

•             Who are the opportunities and threats faced by the vendors in Global Location-based services (LBS) and Real Time Location Systems (RTLS) Market? Business Overview by Type, Applications, Gross Margin and Market Share 

•             What are the Global Location-based services (LBS) and Real Time Location Systems (RTLS) Market opportunities, market risk and market overview of the Market? 

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Top Key Players: 

  • Cisco Systems, Inc.
  • Google, Inc.
  • IBM Corporation
  • Microsoft Corporation
  • Oracle
  • ESRI
  • ZIH Corp
  • Qualcomm Technologies, Inc.
  • Ericsson
  • Teldio Corp.
  • and others. 

FACTORS DRIVING GROWTH IN THE GLOBAL LOCATION-BASED SERVICES (LBS) AND REAL TIME LOCATION SYSTEMS (RTLS) MARKET 

  • Increasing use of technologies: 

According to the survey conducted in U.S. between 2012-2015 on cellphone users who use internet and e-mail. It was found that in 2013 around 74.0% of Americans use their cellphone regarding information related to location and directions. In 2015 this number was significantly increased to 90.0%. 

One of the most useful applications in location based service is ability to locate an individual calling on emergency number 911 in U.S. 112 in EU. 

According to the study it was found that in around 30 days of time span around 74.6% of adult smartphone users used google maps. 

It is forecasted that the number of smart phone user will reach to around 2.1 billion by 2020. And 9 out of 10 individual uses location related information on smartphone. It shows that smart phone and the location based service and real time location are linked with each other. With the increase in technology this market is expected to grow at a very higher rate. 

  • Higher adoption of location-based apps among consumers: 

Company usage of location-based marketing is on the rise in most countries. Around 5.0% increase in the US from 2016 to 2017, 6.0% in Canada, 7.0% in the UK, and 3.0% in Singapore.

Social location services and location based advertising were the top areas of interest in 2016 and will continue to be so in 2017. 

According to the statistics in 2017, Uber has 17.7 million users in U.S. who access uber using smartphones. In 2016   it was seen that Uber has great rise in its trips i.e. from 1.6 million to 5.5 million in just 6 months from January to August 2016. It shows that with an increase in Uber users there will increase in use for real time location as well location base service too as Uber is mostly a location based app. 

According to data published by globalwebIndex, google maps is the most used location based app. 54% of the global smartphone users use google location app in a month. As per this there are around 1billion google maps active users and this number is expected to increase in future thus giving this market a strong platform and expected high growth in future. 

Major Market Drivers: 

  • 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 

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Market Segmentations:

Global Location-based services (LBS) and real time location systems (RTLS) Market is segmented on the basis of  

  • Location Type
  • Technology
  • Hardware
  • Software
  • Service
  • Application Area
  • Geography

Market Segmentations in Details:

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,

  • North America
  • South America
  • Europe
  • Asia-Pacific
  • Middle East & Africa

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.

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