DUBLIN--(BUSINESS WIRE)--The "Global Location-based Services Market - Segmented by Location (Indoor, Outdoor), Product (Hardware, Software, Services), Applications, Technology, End-user and Region - Growth, Trends, and Forecasts (2018-2023)" report has been added to ResearchAndMarkets.com's offering.
The Location-based services Market was valued at USD 20.53 billion and is expected to reach USD 133.08 billion by 2023, with a CAGR of 36.55% during the forecast period.
The location-based services market is observing growth due to increasing analytical and business intelligence applications. The increasing importance of targeted marketing, globally, has led to high focus on marketing efforts.
Location-based services allow the analysis of consumer behavior in commercial spaces, like malls and shops to understand the consumer preference to take advantage for marketing. Additionally, increasing smart device sales has further fueled the market growth.
Marketers believe that location-based advertising is a strong tool for mobile marketing and can elicit quick response from consumers. Thus, location data is gradually becoming a critical element for digital marketing of brands and enterprises.
Developing self-driving cars technology relies heavily on location-based services for navigation and safe driving. But, the privacy of data is a major restrain to the market.
- Increasing Adoption of GPS Devices
- North America is the Largest Region for the Market
Major Developments in the Market
- Google Maps Platform announced to offer streamlined APIs for location-based services. Thus, Google is increasing its activities in the location-based services market.
- HERE expanded partnership with SAP to Offer Location-enhanced Business Applications. As part of the agreement, HERE will integrate several of its location services into SAP Transportation Management, software to enable enterprises to manage their global and local shipping activities across all transportation modes and industries.
- Alcatel-Lucent Enterprise S.A.
- AT&T Inc.
- Creativity Software
- Eseye Limited
- Esri India Technologies Ltd.
- GL Communications Inc.
- Intel Corporation
- Qualcomm Inc.
- TeleMapics LLC
- UAB Elitnet
2. Research Methodology
3. Location-based Services Market Insights
4. Location-based Services Market Dynamics
5. Global Location-based Services Market Segmentation
6. Competitive Intelligence - Company Profiles
7. Investment Analysis
8. Future of the Location-based Services Market
For more information about this report visit https://www.researchandmarkets.com/research/8wn3zc/global?w=4