The global Location Based Services Market Size is expected to attain a market size of $60.3 billion by 2022, growing at a CAGR of 32.2% during the forecast period.
Location-based services use the data related gathered from smartphones and mobile devices to deliver location based services. Growing market penetration of mobile devices, and widespread adoption of LBS in varied applications such as business analytics contribute to the growth of the global location-based services market. However, the cost associated with implementation of LBS along with privacy and security limitations restrict the growth of the global location-based services market. The adoption of LBS has widely grown across various verticals namely, the government & defense, media & entertainment, transportation, retail & e-commerce, healthcare, and others (education, BFSI, and healthcare). Government proactive initiatives to standardize defense technologies coupled with rapid urbanization & infrastructural developments in the emerging economies would further contribute to the market growth in the government & defense sector.
Based on Component, the Location Based Services Market Size is segmented into Hardware, Software, and Services. Services Type is further divided into Implementation, Consulting & Training, and Support & Maintenance. Based on Technology, market is segmented into GPS, Assisted-GPS, Enhanced-GPS, Enhanced Observed Time Difference, Observed Time Difference, Cell ID, Wi Fi, and Others. Based on Application, market is segmented into Location Based Advertising, Business Intelligence, Social Networking & Entertainment, Mapping & Navigation, Location Search & Information, and Others.Based on region, Location Based Services market size is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. North America remained the dominant region in the global Location Based Services market in 2015. Asia-Pacific would witness promising CAGR during the forecast period (2016-2022).
The report covers the Location Based Services Market analysis report of key stake holders of the Location Based Services market. Key companies profiled in the report include Google Inc., SAP SE, Microsoft Corporation, Oracle Corporation, HP Enterprise Company, IBM Corporation, Qualcomm Incorporated and Cisco Systems, Inc.
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