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The Location-based Services (LBS) and Real-Time Location Systems (RTLS) market size is projected to grow from USD 24.7 billion in 2023 to USD 60.4 billion by 2028, at a CAGR of 19.6% during the forecast period.

The usage of RTLS increased across several verticals, including healthcare, industrial manufacturing, logistics, process industries (mining, oil and gas), and defense due to all these advancements. More sectors are now recognizing the benefits of tracking, monitoring, and analyzing the precise location and movements of assets. These advantages include improved workflow, simpler processes, and higher production.

Major Location-based Services (LBS) and RTLS Companies Include:

• Cisco (US)
• Google (US)
• Ericsson (Sweden)
• TomTom (Netherlands)
• Teldio (Canada)

Various globally established players, such as Cisco (US), Google (US), IBM (US), Microsoft (US), Oracle (US), Ericsson (Sweden), Qualcomm (US), TomTom (Netherlands), Zebra Technologies (US), ESRI (US), Teldio (Canada), HERE (Netherlands), Ubisense (UK), Apple (US), are dominating the LBS and RTLS market. These competitors have used various growth methods to increase their market share in the LBS and RTLS markets, including partnerships, agreements, collaborations, new product releases, product enhancements, and acquisitions.

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Google (Alphabet Inc.) is a prominent player in the Location-Based Services (LBS) and Real-Time Location Systems (RTLS) market, leveraging its diverse portfolio to cater to a wide range of stakeholders. At the consumer level, flagship products like Google Maps and Waze empower users with intuitive navigation and traffic insights, enhancing daily mobility. Meanwhile, Google's Android platform fosters device-to-device connections through Nearby Share, streamlining local data exchange. Beyond consumer solutions, Google actively engages in enterprise-oriented initiatives. The Firebase Realtime Database, a cornerstone of the Google Cloud Platform, provides developers with a robust location-aware data management tool, fueling applications ranging from real-time asset tracking to delivery optimization.

Cisco has strategically positioned itself in the dynamic landscape of LBS and RTLS, reflecting its commitment to comprehensive networking solutions. Leveraging its extensive portfolio of wireless networking infrastructure, Cisco plays a pivotal role in providing the technological foundation for location-based applications. The Cisco Connected Mobile Experiences (CMX) platform is crucial, utilizing Wi-Fi infrastructure for personalized user experiences and insightful analytics. The integration of IoT devices, coupled with Cisco's networking solutions, facilitates real-time tracking and monitoring in diverse industries. Cisco's collaboration and communication tools enhance the efficacy of LBS and RTLS applications, ensuring seamless communication in scenarios where precise location information is imperative. Security is a paramount consideration, and Cisco's robust security solutions contribute to safeguarding the integrity and confidentiality of location data. Through strategic acquisitions, partnerships, and industry-specific applications, Cisco demonstrates a multifaceted approach to addressing the evolving demands of the LBS and RTLS market.

Ericsson: Ericsson is a leading multinational telecommunications company headquartered in Sweden, known for its expertise in providing telecommunications and networking solutions to service providers and enterprises worldwide. Established in 1876, Ericsson has a long history of innovation and has played a significant role in the development of telecommunication technologies.

TomTom : TomTom specializes in GPS navigation, digital mapping, and location-based services. The company's products are used in a variety of applications, from automotive navigation to fleet management and geospatial data analysis.

Teldio: Teldio is a Canadian technology company specializing in two-way radio applications and integrated communication solutions. Headquartered in Ottawa, Ontario, Teldio focuses on developing software that enhances two-way radio systems, providing advanced features and functionality for industries that rely on radio communications.

Related Reports:

Location-based Services (LBS) and Real-Time Location Systems (RTLS) Market by Offering (Platform, Services, Hardware), Location Type, Technology, Application (Tracking & Navigation, Marketing & Advertising), Vertical and Region - Global Forecast to 2028