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Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market Worth $68.85 Billion by 2023

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MarketsandMarkets

31 Jul, 2018, 13:30 GMT

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PUNE, India, July 31, 2018 /PRNewswire/ --

According to a new market research report "Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market by Location Type (Indoor and Outdoor), Software (Geocoding and Reverse Geocoding, Location and Predictive Analytics), Hardware, Service, Vertical, and Region - Global Forecast to 2023", published by MarketsandMarkets™, the LBS and RTLS Market size is expected to grow from USD 22.18 billion in 2018 to USD 68.85 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 25.4% during the forecast period (2018-2023).

     (Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg )

Browse 60 market data Tables and 74 Figures spread through 186 Pages and in-depth TOC on "Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market"

https://www.marketsandmarkets.com/Market-Reports/location-based-service-market-96994431.html

Early buyers will receive 10% customization on this report 

The major factors that are expected to drive the growth of the LBS and RTLS Market include the increasing use of smartphones for advertisement and social media advertising. In addition, increasing investment in LBS and RTLS technology is another major driver of the market growth.

The indoor segment is expected to grow at a high rate in the LBS and RTLS Market during the forecast period 

The indoor location type is estimated to grow at a high CAGR during the forecast period, as indoor LBS and RTLS provides navigation services inside malls, megastores, manufacturing units, offices, airports, casinos, universities, and hospitals. The methods and techniques used in indoor location applications enable accurate 2D and 3D mapping, and navigation. Increasing focus of organizations on customer centricity and wearable technologies are some of the factors driving the indoor LBS and RTLS Market. Additionally, rapidly expanding infrastructural building sizes, such as airports, malls, hospitals, and other indoor public places, necessitate the requirement of RTLS and indoor location services for public safety, emergency services, and other indoor navigational guidance.

Ask For PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=96994431

The software segment is expected to hold the largest market share in the LBS and RTLS Market during the forecast period 

LBS and RTLS software helps in providing location-based analysis, visualization, and real-time tracking of equipment, as well as, people in different locations, such as emergency wards, operating rooms, and manufacturing facilities. LBS and RTLS software are commonly termed as middleware or location engine, acts as an interface between the location-based data and the final analysis of that data into useful insights for enhanced asset management. Location tags and readers based on different technologies require dedicated middleware that can manage the tracking process and capture a large amount of real-time location data. There are many kinds of software applications available in the market, depending on the providers, which can also be customized as per the clients' requirement.

North America is expected to have the largest market share in the LBS and RTLS Market during the forecast period 

North America is expected to have the largest market share in the global LBS and RTLS Market. The overall LBS and RTLS Market  in North America can be divided into 2 main regions, namely, the US and Canada. The US holds the maximum share in the LBS and RTLS Market. In the US, government, defense, and public sector hold the largest market chunk. The growth in North America is attributed to the continuous technological advancements in this field, increasing standards regarding LBS and RTLS, as well as enhanced financial support from the government. The major share of North America is dedicated to the presence of many LBS vendors in the US region.

Some of the major vendors in the LBS and RTLS Market  include Cisco (US), Google (US), IBM (US), Microsoft (US), Oracle (US), TomTom (Netherlands), Apple (US), Esri (US), Ericsson (Sweden), Qualcomm (US), Zebra (US), Ubisense (UK), Pitney Bowes (US), Baidu (China), Foursquare (US), Centrak (US), Ekahau (US), Galigeo (France), HERE (Netherlands), Teldio (Canada), Navigine (US), Living Map (UK), infsoft (Germany), AiRISTA (Maryland), and Quuppa (Finland).

About MarketsandMarkets™  

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com  

Research Insight: https://www.marketsandmarkets.com/ResearchInsight/location-based-service-market.asp
Connect with us on LinkedIn: http://www.linkedin.com/company/marketsandmarkets

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