Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market by Component (Hardware, Software and Services), Location Type (Indoor and Outdoor), Vertical, Region - Global Forecast to 2024
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Request For Special Pricing[165 Pages Report] MarketsandMarkets forecasts the LBS and RTLS market to grow from USD 16.0 billion in 2019 to USD 40.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 20.1% from 2019 to 2024. The major factors driving the LBS and RTLS market include include various applications of geospatial data; growing demand for LBS and RTLS solutions for industry applications; proliferation of social media, smartphones, and location-based apps among consumers; and growing demand for geomarketing.
Attractive opportunities in the LBS and RTLS & Market
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The transportation and logistics vertical is estimated to account for the largest market share during the forecast period
The LBS and RTLS technology in automotive allows companies to increase capital returns and drive customer loyalty. They also assist to understand customer behaviour and offer valuable information that could help to build enhanced advertising campaigns, optimize services, and select the right locations. Additionally, the LBS and RTLS technologies allow the automotive vertical to manage inventory effectively, save costs on audits, and track missing equipment. Route tracking and monitoring, and field asset monitoring emerging as the rapidly growing applications of LBS and RTLS in transportation and logistics vertical.
The indoor location type is expected to grow at the fastest rate during the forecast period
Indoor positioning tracks all the data, objects, or people within an enclosed surface area using magnetic fields, acoustic signals, radio waves, or other sensory information collected by the connected devices. The conventional indoor localization technologies mainly include Wi-Fi, RFID, Zigbee, ultrasonic, Bluetooth, UWB, cellular network, and IR, among others. The use of wireless signals, such as Wi-Fi and Bluetooth, for indoor navigation is on the rise owing to the advent of personal wireless communication technologies and proliferation of personal communication devices. Additionally, increasing focus of organizations on customer centricity and wearable technologies are some of the factors driving the indoor LBS and RTLS market.
North America is estimated to account for the largest market share during the forecast period
North America is expected to hold the largest market size during the forecast period. The US has emerged as the largest market for LBS and RTLS owing to the large-scale implementation of LBS and RTLS solutions by organizations and enterprises in the country. The high pace of development of infrastructure in the US, along with the high growth of Internet of Things (IoT), Artificial Intelligence (AI), and cloud computing has attributed to the fast growth of the LBS and RTLS market in the US.
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Market Dynamics
Growing demand for geomarketingLocation-based advertising via mobile revolves around the fact that people always carry their smartphone devices wherever they go and willingly share their locations with various apps they use. This, in turn, offers an opportunity for advertisers to customize their messages to people based on their current location in real time. In addition, it provides a clear understanding of customers’ interest and their likes and dislikes as it collects real-time data. Using a person’s location data collected from their mobile device, advertisers can send different and personalized messages to people depending on their location. As per THEDMA.ORG, approximately 84% of all “near me” searches take place on smartphone devices. Furthermore, companies are focusing more on location-based advertising, as it is easier to reach the target market. In July 2016, Baidu announced the launch of its mobile ad platform, DU Ad Platform, for Indian developers and advertisers. Similarly, Google launched Adsense for mobile applications to take benefit of the increasing advertising opportunities on the mobile. Other technological advancements, such as mobile ticketing and coupons, are encouraging location-based mobile advertising opportunities. This is evident from the fact given by the DMA Statistical Fact Book 2017, which states that approximately 123 million US adults used mobile coupons in 2017.
LBS and RTLS Market: Research Design
Scope of the Report
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Report Metric |
Details |
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Market size available for years |
2017–2024 |
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Base year considered |
2018 |
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Forecast period |
2019–2024 |
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Forecast units |
Billion (USD) |
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Segments covered |
Hardware, Software, Services, Location Type, Vertical, and Region |
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Geographies covered |
North America, APAC, Europe, Latin America, and MEA |
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Companies covered |
Aruba Networks (US), Cisco (US), Google (US), Esri (US), IBM (US), Microsoft (US), Oracle (US), TomTom (Netherlands), Teldio (Canada), HERE (Netherlands), Ericsson (Sweden), Foursquare (US), Navigine (US), AiRISTA Flow (US), Quuppa (Finland), Ubisense (UK), Apple (US), Qualcomm (US), STANLEY Healthcare (US), GE Healthcare (US), CenTrak (US), Spime (US), KDDI (Japan), NTT Docomo (Japan), and Zebra Technologies (US) |
Key Market Players
Key and emerging market players include Aruba Networks (US), Cisco (US), Google (US), Esri (US), IBM (US), Microsoft (US), Oracle (US), TomTom (Netherlands), Teldio (Canda), HERE (Netherlands), Ericsson (Sweden), Foursquare (US), Navigine (US), AiRISTA Flow (US), Quuppa (Finland), Ubisense (UK), Apple (US), Qualcomm (US), STANLEY Healthcare (US), GE Healthcare (US), CenTrak (US), Spime (US), KDDI (Japan), NTT Docomo (Japan), and Zebra Technologies (US). These players have adopted various strategies to grow in the LBS and RTLS market. The companies are focused on inorganic and organic growth strategies to strengthen their market position.
Recent Developments
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In February 2019, Microsoft partnered with TomTom to incorporate LBS in Azure solutions via TomTom’s maps, traffic, and navigation software.
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In February 2019, Qualcomm Technologies, a subsidiary of Qualcomm Incorporated, collaborated with Skyhook Wireless, a developer of mobile location technology. With this collaboration, Qualcomm utilized Skyhook’s Wi-Fi positioning and location assistance services in its Qualcomm Snapdragon Wear 2500 platform for high accuracy and low power location solutions.
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In July 2018, Esri announced the release of an indoor mapping product ArcGIS Indoors, enabling interactive indoor mapping of corporate facilities, retail and commercial locations, airports, and hospitals
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In June 2018, IBM Watson Advertising partnered with Best Western to offer a new interactive AI-powered ad to its customers. This partnership provides travel tips and tricks, recommends local accommodations, and delivers special offers based on the user’s travel experience.
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In November 2017, Microsoft launched Azure LBS for geospatial needs to offer geographical data, such as IoT asset tracking, fleet management, logistics, automotive, urban planning, and retail.
Critical questions the report answers:
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Where will all these developments take the industry in the long term?
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What are the standards and regulations that impacts the LBS and RTLS market?
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Which segment provides the most opportunity for growth?
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Who are the leading vendors operating in this market?
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What are the opportunities for new market entrants?
Frequently Asked Questions (FAQ):
What is LBS and RTLS?
Which verticals have adopted LBS and RTLS?
Which are the top industry players in the LBS and RTLS market?
What are the top trends in LBS and RTLS market?
Trends that are impacting the IoT connectivity market includes:
- Various applications of geospatial data
- Proliferation of social media, smartphones, and location-based apps among consumers
- Growing demand for geomarketing
- BLE and UWB for indoor proximity services
- Use of 5G for LBS
- Opportunities and applications in Industry 4.0
Trends that are impacting the LBS and RTLS market includes:
Opportunities for the LBS and RTLS market:
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
Table of Contents
1 Introduction (Page No. - 19)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered for the Study
1.4 Currency Considered
1.5 Stakeholders
2 Research Methodology (Page No. - 23)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primary Profiles
2.1.2.2 Key Industry Insights
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
2.4 Market Forecast
2.5 Competitive Leadership Mapping Research Methodology
2.6 Assumptions for the Study
2.7 Limitations of the Study
3 Executive Summary (Page No. - 32)
4 Premium Insights (Page No. - 37)
4.1 Attractive Opportunities in Global Location Based Services Market
4.2 LBS and RTLS Market, By Component, 2019
4.3 LBS and RTLS Market, By Software, 2017–2024
4.4 LBS and RTLS Market, By Service, 2019 vs 2024
4.5 LBS and RTLS Market, By Location Type, 2019
4.6 LBS and RTLS Market, By Vertical, 2019 vs 2024
4.7 LBS and RTLS Market: Market Investment Scenario (2019-2024)
5 Location Based Services Market Overview and Industry Trends (Page No. - 41)
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Various Applications of Geospatial Data Driving the LBS and RTLS Market Growth
5.2.1.2 Growing Demand for LBS and RTLS for Industry Applications
5.2.1.3 Proliferation of Social Media, Smartphones, and Location-Based Apps Among Consumers
5.2.1.4 Growing Demand for Geomarketing
5.2.2 Restraints
5.2.2.1 Stringent Government Rules and Regulations
5.2.3 Opportunities
5.2.3.1 Ble and UWB for Indoor Proximity Services
5.2.3.2 Use of 5G for LBS
5.2.3.3 Opportunities and Applications in Industry 4.0
5.2.4 Challenges
5.2.4.1 Privacy and Security Concerns
5.2.4.2 Designing LBS and RTLS Solutions to Fulfil High Accuracy, Long-Range, and Low-Power Consumption Requirements Simultaneously
5.3 Future Outlook: LBS and RTLS Market
5.4 Value Chain Analysis
5.5 Standards and Regulations
5.5.1 Standardization Bodies
5.5.1.1 Open Geospatial Consortium
5.5.1.2 Internet Engineering Task Force
5.5.1.3 Institute of Electrical and Electronics Engineers
5.5.1.4 World Wide Web Consortium
5.5.2 Standards
5.6 Ecosystem and Key Target Audience
5.6.1 Ecosystem
5.6.2 Target Audience
5.6.2.1 Mobile Network Operators
5.6.2.2 LBS Application Developers
5.6.2.3 Wireless Infrastructure Providers
5.6.2.4 Mobile Content Developers and Aggregators
5.6.2.5 Mobile Commerce and Advertising Companies
5.7 LBS and RTLS Technologies
5.7.1 Satellite, Microwave, and Infrared Remote Sensing
5.7.2 Otdoa and E-Otd
5.7.3 RFID and NFC
5.7.4 Context-Aware Technologies
5.7.5 Wi-Fi/Wlan, UWB, Bt/Ble, Beacons, and A-GPS
5.7.6 Others
5.8 Use Cases of LBS and RTLS
6 Location Based Services Market By Component (Page No. - 60)
6.1 Introduction
6.2 Software
6.2.1 Geocoding and Reverse Geocoding
6.2.1.1 Geocoding and Reverse Geocoding Software Emerging as Major Facilitators of LBS on Digital Maps
6.2.2 Location and Predictive Analytics
6.2.2.1 Location and Predictive Analytics Software Empowering Enterprises to Make Better-Informed Decisions Regarding Their Services
6.2.3 Reporting and Visualization
6.2.3.1 Location-Based Reporting Software Provides Enterprises With A Detailed Understanding of Business Metrics
6.2.4 Database Management and Spatial ETL
6.2.4.1 The Combined Usage of Enterprise Spatial Database Enabling Robust Location Data Management
6.2.5 Risk Analytics and Threat Prevention
6.2.5.1 Rising Threats in the Connected Services Ecosystem Forcing Enterprises to Focus on Risk Analytics and Threat Prevention
6.3 Services
6.3.1 Deployment and Integration
6.3.1.1 Deployment and Integration Services to Offer Significant Revenue Growth Opportunities in APAC
6.3.2 Application Support and Maintenance
6.3.2.1 Growing Demand for LBS and RTLS Software Solutions Fuelling the Demand for Application Support and Maintenance Services
6.3.3 Consulting and Advisory
6.3.3.1 Need for Technical Expertise, Especially in Latin America and MEA Regions, Driving the Demand for Consulting and Advisory Services
6.4 Hardware
7 Location Based Services Market By Location Type (Page No. - 73)
7.1 Introduction
7.2 Outdoor
7.2.1 GNSS Penetration in LBS Devices to Be A Key Enabler of Outdoor Positioning
7.3 Indoor
7.3.1 UWB Technology Enabling Precise Indoor Positioning
8 Location Based Services Market By Vertical (Page No. - 77)
8.1 Introduction
8.2 Government and Public Utilities
8.2.1 Surveillance, Emergency Response System, Cybersecurity Intelligence, Intrusion Detection and Prevention, and Asset Management are Key Applications of LBS and RTLS
8.3 Retail
8.3.1 Growing Use for LBS and RTLS Technologies in Retail for Enhancing Customer Engagement on Digital Platforms Via Geomarketing
8.4 Transportation and Logistics
8.4.1 Route Tracking and Monitoring, and Field Asset Monitoring Emerging as Key Applications of LBS and RTLS in Transportation and Logistics Vertical
8.5 Manufacturing
8.5.1 Asset Tracking and Supply Chain Optimization are Keys to the Deployment of LBS and RTLS in Manufacturing
8.6 Healthcare and Life Sciences
8.6.1 Facilities Management and Governance are Important Applications of LBS and RTLS in Healthcare and Life Sciences Vertical
8.7 Media and Entertainment
8.7.1 Audience Analysis and Customer Engagement to Drive the Adoption of LBS and RTLS in Media and Entertainment Vertical
8.8 Others
9 Location Based Services Market By Region (Page No. - 89)
9.1 Introduction
9.2 North America
9.2.1 United States
9.2.1.1 Development of Infrastructure in the US to Drive the Market Growth
9.2.2 Canada
9.2.2.1 Investments in Smart Cities and Smart Infrastructure to Drive LBS and RTLS in Canada
9.3 Europe
9.3.1 United Kingdom
9.3.1.1 Adoption of Big Data and Analytics Technologies to Drive the Demand for LBS and RTLS Solutions in the UK
9.3.2 Germany
9.3.2.1 Expansion of Smart Infrastructures in Germany to Drive the Growth of LBS and RTLS Market
9.3.3 Rest of Europe
9.4 Asia Pacific
9.4.1 China
9.4.1.1 Popularity of Location-Based Games to Drive the LBS and RTLS Market in China
9.4.2 Japan
9.4.2.1 Use of LBS for Emergency Services to Drive the LBS and RTLS Market in Japan
9.4.3 Rest of Asia Pacific
9.5 Rest of the World
9.5.1 Middle East
9.5.1.1 Government Initiatives for Smart Cities and Summits to Drive the Market Growth in the Middle East
9.5.2 Africa
9.5.2.1 Adoption of Smartphones to Drive the LBS and RTLS Market in Africa
9.5.3 Latin America
9.5.3.1 Increased Number and Use of Connected Devices to Drive the Market in Latin America
10 Competitive Landscape (Page No. - 107)
10.1 Competitive Leadership Mapping
10.1.1 Visionary Leaders
10.1.2 Innovators
10.1.3 Dynamic Differentiators
10.1.4 Emerging Companies
10.2 Strength of Product Portfolio
10.3 Business Strategy Excellence
10.4 Market Ranking for the LBS and RTLS Market, 2019
11 Company Profiles (Page No. - 112)
(Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View)*
11.1 Cisco
11.2 Google
11.3 IBM
11.4 Microsoft
11.5 Oracle
11.6 Ericsson
11.7 Qualcomm
11.8 Tomtom
11.9 ESRI
11.10 Zebra Technologies
11.11 Teldio
11.12 Here
11.13 Foursquare
11.14 Navigine
11.15 Airista Flow
11.16 Quuppa
11.17 Ubisense
11.18 Apple
11.19 Stanley Healthcare
11.20 GE Healthcare
11.21 Centrak
11.22 Spime
11.23 Aruba Networks
11.24 KDDI
11.25 NTT Docomo
*Details on Business Overview, Products & Services, Key Insights, Recent Developments, SWOT Analysis, MnM View Might Not Be Captured in Case of Unlisted Companies.
12 Appendix (Page No. - 158)
12.1 Discussion Guide
12.2 Knowledge Store: Marketsandmarkets’ Subscription Portal
12.3 Available Customization
12.4 Related Reports
12.5 Author Details
List of Tables (54 Tables)
Table 1 United States Dollar Exchange Rate, 2016–2018
Table 2 Factor Analysis
Table 3 Major Industry Application Areas Across Verticals
Table 4 Location Based Services Market: Standards
Table 5 LBS and RTLS Market Size, By Component, 2017–2024 (USD Million)
Table 6 Software: LBS and RTLS Market Size, By Type, 2017–2024 (USD Million)
Table 7 Software: LBS and RTLS Market Size, By Region, 2017–2024 (USD Million)
Table 8 Geocoding and Reverse Geocoding Market Size, By Region, 2017–2024 (USD Million)
Table 9 Location and Predictive Analytics Market Size, By Region, 2017–2024 (USD Million)
Table 10 Reporting and Visualization Market Size, By Region, 2017–2024 (USD Million)
Table 11 Database Management and Spatial Etl Market Size, By Region, 2017–2024 (USD Million)
Table 12 Risk Analytics and Threat Prevention Market Size, By Region, 2017–2024 (USD Million)
Table 13 Services: Location Based Services Market Size, By Type, 2017–2024 (USD Million)
Table 14 Services: LBS and RTLS Market Size, By Region, 2017–2024 (USD Million)
Table 15 Deployment and Integration Market Size, By Region, 2017–2024 (USD Million)
Table 16 Application Support and Maintenance Market Size, By Region, 2017–2024 (USD Million)
Table 17 Consulting and Advisory Market Size, By Region, 2017–2024 (USD Million)
Table 18 Hardware: LBS and RTLS Market Size, By Region, 2017–2024 (USD Million)
Table 19 Location Based Services Market Size, By Location Type, 2017–2024 (USD Million)
Table 20 Outdoor: LBS and RTLS Market Size, By Region, 2017–2024 (USD Million)
Table 21 Indoor: LBS and RTLS Market Size, By Region, 2017–2024 (USD Million)
Table 22 Location Based Services Market Size, By Vertical, 2017–2024 (USD Million)
Table 23 Government and Public Utilities: LBS and RTLS Market Size, By Region, 2017–2024 (USD Million)
Table 24 Retail: LBS and RTLS Market Size, By Region, 2017–2024 (USD Million)
Table 25 Transportation and Logistics: LBS and RTLS Market Size, By Region, 2017–2024 (USD Million)
Table 26 Manufacturing: LBS and RTLS Market Size, By Region, 2017–2024 (USD Million)
Table 27 Healthcare and Life Sciences: LBS and RTLS Market Size, By Region, 2017–2024 (USD Million)
Table 28 Media and Entertainment: LBS and RTLS Market Size, By Region, 2017–2024 (USD Million)
Table 29 Others: LBS and RTLS Market Size, By Region, 2017–2024 (USD Million)
Table 30 Location Based Services Market Size, By Region, 2017–2024 (USD Million)
Table 31 North America: Location Based Services Market Size, By Component, 2017–2024 (USD Million)
Table 32 North America: LBS and RTLS Market Size, By Software, 2017–2024 (USD Million)
Table 33 North America: LBS and RTLS Market Size, By Service, 2017–2024 (USD Million)
Table 34 North America: LBS and RTLS Market Size, By Location Type, 2017–2024 (USD Million)
Table 35 North America: LBS and RTLS Market Size, By Vertical, 2017–2024 (USD Million)
Table 36 North America: LBS and RTLS Market Size, By Country, 2017–2024 (USD Million)
Table 37 Europe: Location Based Services Market Size, By Component, 2017–2024 (USD Million)
Table 38 Europe: LBS and RTLS Market Size, By Software, 2017–2024 (USD Million)
Table 39 Europe: LBS and RTLS Market Size, By Service, 2017–2024 (USD Million)
Table 40 Europe: LBS and RTLS Market Size, By Location Type, 2017–2024 (USD Million)
Table 41 Europe: LBS and RTLS Market Size, By Vertical, 2017–2024 (USD Million)
Table 42 Europe: LBS and RTLS Market Size, By Country, 2017–2024 (USD Million)
Table 43 Asia Pacific: Location Based Services Market Size, By Component, 2017–2024 (USD Million)
Table 44 Asia Pacific: LBS and RTLS Market Size, By Software, 2017–2024 (USD Million)
Table 45 Asia Pacific: LBS and RTLS Market Size, By Service, 2017–2024 (USD Million)
Table 46 Asia Pacific: LBS and RTLS Market Size, By Location Type, 2017–2024 (USD Million)
Table 47 Asia Pacific: LBS and RTLS Market Size, By Vertical, 2017–2024 (USD Million)
Table 48 Asia Pacific: LBS and RTLS Market Size, By Country, 2017–2024 (USD Million)
Table 49 Rest of the World: Location Based Services Market Size, By Component, 2017–2024 (USD Million)
Table 50 Rest of the World: LBS and RTLS Market Size, By Software, 2017–2024 (USD Million)
Table 51 Rest of the World: LBS and RTLS Market Size, By Service, 2017–2024 (USD Million)
Table 52 Rest of the World: LBS and RTLS Market Size, By Location Type, 2017–2024 (USD Million)
Table 53 Rest of the World: LBS and RTLS Market Size, By Vertical, 2017–2024 (USD Million)
Table 54 Rest of the World: LBS and RTLS Market Size, By Region, 2017–2024 (USD Million)
List of Figures (39 Figures)
Figure 1 Global Location Based Services Market: Research Design
Figure 2 LBS and RTLS Market: Top-Down and Bottom-Up Approaches
Figure 3 Competitive Leadership Mapping: Criteria Weightage
Figure 4 LBS and RTLS Market to Witness Significant Growth During the Forecast Period
Figure 5 Fastest Growing Segments in the Global Location Based Services Market in 2019
Figure 6 LBS and RTLS Regional Market Scenario
Figure 7 Proliferation of Smartphones and Subsequent Location-Based Apps Driving the Global LBS and RTLS Market
Figure 8 Services Segment to Hold the Highest Market Share in the LBS and RTLS Market in 2019
Figure 9 Location and Predictive Analytics Segment to Lead the LBS and RTLS Market in 2019
Figure 10 Deployment and Integration Segment to Lead the LBS and RTLS Services Market, in Terms of Market Share, During the Forecast Period
Figure 11 Outdoor Segment to Hold A Higher Market Share in 2019
Figure 12 Transportation and Logistics Segment to Lead the LBS and RTLS Market in Terms of Market Share in 2024
Figure 13 Asia Pacific Considered as the Best Market to Invest During 2019–2024
Figure 14 Drivers, Restraints, Opportunities, and Challenges: LBS and RTLS Market
Figure 15 Value Chain of the Location Based Services Market
Figure 16 LBS and RTLS Market Ecosystem
Figure 17 Services Segment to Grow at the Highest Rate in the LBS and RTLS Market During the Forecast Period
Figure 18 Location and Predictive Analytics Software to Grow at the Highest CAGR During the Forecast Period
Figure 19 Deployment and Integration Services Segment to Account for the Largest Market Size During the Forecast Period
Figure 20 Indoor Segment to Grow at A Higher CAGR During the Forecast Period
Figure 21 Retail Vertical to have the Largest Market Size in 2019
Figure 22 North America to have the Largest Market Size During the Forecast Period
Figure 23 North America: Market Snapshot
Figure 24 Asia Pacific: Market Snapshot
Figure 25 Location Based Services Market (Global) Competitive Leadership Mapping, 2019
Figure 26 Market Ranking, 2019
Figure 27 Cisco: Company Snapshot
Figure 28 Google: Company Snapshot
Figure 29 IBM: Company Snapshot
Figure 30 Microsoft: Company Snapshot
Figure 31 Oracle: Company Snapshot
Figure 32 Ericsson: Company Snapshot
Figure 33 Qualcomm: Company Snapshot
Figure 34 Tomtom: Company Snapshot
Figure 35 Zebra Technologies: Company Snapshot
Figure 36 Apple: Company Snapshot
Figure 37 Stanley Healthcare (Stanley Black & Decker): Company Snapshot
Figure 38 GE Healthcare (GE): Company Snapshot
Figure 39 Spime (Trimble): Company Snapshot
The study involved 4 major activities in estimating the current size of the Location Based Services Market An extensive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakup and data triangulation procedures were used to estimate the market size of segments and subsegments of the LBS and RTLS market.
Secondary Research
In the secondary research process, various secondary sources, such as D&B Hoovers, Bloomberg BusinessWeek, and Factiva, have been referred, to identify and collect information for this study. These secondary sources included annual reports; press releases and investor presentations of companies; whitepapers, articles by The International RFID Business Association (RFIDba), Location Based Marketing Association (LBMA), and other recognized authors; gold standard and silver standard websites; Research and Development (R&D) organizations; regulatory bodies; and databases.
Primary Research
Various primary sources from both the supply and demand sides of the Location Based Services Market ecosystem were interviewed to obtain qualitative and quantitative information for this study. The primary sources from the supply side included industry experts, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), marketing directors, technology and innovation directors, and related key executives from various vendors providing LBS and RTLS solutions in the targeted regions. All possible parameters that affect the market covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The following is the breakup of the primary respondents’ profiles:
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Location Based Services Market Size Estimation
To make market estimations and forecast the LBS and RTLS market and the other dependent submarkets, the top-down and bottom-up approaches were used. The bottom-up procedure was used to arrive at the overall size of the global LBS and RTLS market using the revenues and offerings of the key companies in the market. The research methodology used to estimate the market size includes the following:
- The key players in the market were identified through extensive secondary research.
- The market size, in terms of value, was determined through primary and secondary research processes.
- All percentage shares, splits, and breakups were determined using secondary sources and verified through primary sources.
Data Triangulation
With data triangulation and validation through primary interviews, the exact value of the overall parent market size was determined and confirmed using this study. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.
Report Objectives
- To define, describe, and forecast the Location Based Services Market by component (hardware, software and services), location type (indoor and outdoor), vertical, and region
- To provide detailed information related to the major factors, such as drivers, restraints, opportunities, and challenges, influencing the growth of the market
- To analyze the market subsegments with respect to individual growth trends, prospects, and contributions to the total market
- To analyze the opportunities in the market for stakeholders and provide a competitive landscape of the market
- To forecast the revenue of the market segments with respect to 4 major regions, namely North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
- To profile the key players and comprehensively analyze their recent developments and positioning in the market
- To analyze the competitive developments, such as mergers and acquisitions, new product developments, and R&D activities in the market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific requirements. The following customization options are available for the report:
Product Analysis
- Product matrix provides detailed product information and comparisons
Geographic Analysis
- Further breakup of the North American Location Based Services Market
- Further breakup of the European LBS and RTLS market
- Further breakup of the APAC LBS and RTLS market
- Further breakup of the RoW LBS and RTLS market
Company Information
- Detailed analysis and profiling of additional market players
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Growth opportunities and latent adjacency in Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market