Description:
Location-based service( LBS) is delivery of specific services to users on the basis of location of mobile or wireless devices. Location-based services are used to locate persons, objects, track vehicle movements, navigation, logistics, and inventory management. Upsurge in penetration of wireless devices such as tablets, smartphones, and handheld devices has boosted the adoption of social networking platforms, and provided new avenues for location-based marketing & advertising. Moreover, rise in demand for active check-in apps, and use of business intelligence in fraud management & secure authentication has fueled the growth of location-based services market. However, increased prices of real-time based LBS components, and personal data security are the major factors hindering the growth of global location-based services industry. Increasing application areas along with technological advancements in cloud computing, global navigation satellite system( GNSS), GPS, wireless technologies, advanced motion & temperature sensors, unmanned vehicles, high precision cameras, and others is expected to provide numerous growth opportunities for the location-based services market.
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Rapid adoption of Wi-Fi and WLAN networks in hospitals and public places is expected to drive the location-based services market during the forecast period. Furthermore, owing to advancements in technology and increase in consumer demand, leading market players have developed various LBS-enabled products and adopted various strategies to sustain the intense competition in the global location-based services market. Product launch is one of the most prominent strategies adopted by market players in the global location-based services industry. For instance, in 2016, AT & T launched AT & T Fleet Complete, which is a GPS-based fleet for asset and mobile workforce solution. In addition, Retale, a locationbased mobile advertising platform, announced the introduction of RetaleBot, which uses location based information to offer coupons to users through Facebook Messenger.
The global location-based services market is segmented into components, applications, technologies, end users, and regions. The components of location-based services market are segmented into hardware, software, and services. The services are subsegmented into consulting services, managed services, system integration services, and others services. The applications of location based services are segmented into location-based advertising, business intelligence & analytics, social networking, and entertainment( location-based gaming and augmented reality), mapping & navigation, local search & information, and others. On the basis of technology, the market is segmented into GPS, assisted GPS, enhanced GPS, enhanced observed time difference, observed time difference, cell ID, Wi-Fi, and others. The end users of the market are segmented into media & entertainment, retail, transportation, government & defense, healthcare, and others. The others segment includes oil and gas, education, and BFSI. The market is analyzed based on four regions, namely North America, Europe, Asia-Pacific, and LAMEA. North America is subsegmented into U. S., Canada, and Mexico. Europe is segmented into UK, Germany, France, Spain, Italy, and Rest
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