Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market

Google (US) and TomTom (Netherlands) are the Major Players in the Location-Based Services (LBS) and Real Time Location Systems (RTLS) Market

The Location-Based Services (LBS) and Real-Time Location Systems (RTLS) market is gaining traction due to increasing availability of spatial data and analytical tools, growing focus on business intelligence, intensifying market competitiveness, and decreasing cost of solutions. Additionally, technological advancements, such as global deployments of 3G and 4G wireless services have created ubiquitous connectivity. MarketsandMarkets estimates the LBS and RTLS market size to grow from USD 22.18 billion in 2018 to USD 68.85 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 25.4% during the forecast period.

Some of the major players in the LBS and RTLS market include Cisco (US), Google (US), IBM (US), Microsoft (US), Oracle (US), TomTom (Netherlands), Apple (US), Esri (US), Ericsson (Sweden), Qualcomm (US), Zebra (US), Ubisense (UK), Pitney Bowes (US), Baidu (China), Foursquare (US), Centrak (US), Ekahau (US), Galigeo (France), HERE (Netherlands), Teldio (Canada), Navigine (US), Living Map (UK), infsoft (Germany), AiRISTA (Maryland), and Quuppa (Finland). These leading players in the LBS and RTLS have adopted various organic and inorganic strategies, such as partnership, expansion, new product launch, merger, and acquisition, to achieve growth in the LBS and RTLS market.

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Google is one of the leading players in the LBS and RTLS market. Google Maps shows that the company largely applies the organic growth strategy of new product launches and upgradations to become a leader in the market. Asia Pacific (APAC) and the Middle East are Google’s prime target regions to deploy its indoor location maps and explore more opportunities for growth in the market. Google is trying to grow in the LBS and RTLS market by implementing both organic and inorganic growth strategies. In February 2017, Google Maps was updated for Android with new UI to offer users relevant information, including improvement of transit times, traffic data, local places, and recommendations feature.

TomTom has established itself as a distinguished supplier of navigation and LBS products and services. It has been continuously updating and preserving a high-quality map database for its huge customer base in automotive navigation systems. An active group of users provides accurate corrections, verifications, and updates to TomTom. The company presents a unique proposition for its clients through distinctive real-time traffic information supported by huge high-speed profile database. It has also been continuously planning innovations through methodical development programs that include products such as GPS sports watches, state-of-the-art Fleet Management Systems (FMS), and industry-leading LBS products. The company strongly believes in launching new capabilities in the LBS and RTLS market to enhance its product portfolio. For instance, in March 2018, TomTom launched TomTom TRUCKER, a GPS navigation device specifically developed to help truckers reach their destinations more efficiently.

Related Reports:

Location-Based Services (LBS) and Real Time Location Systems (RTLS) Market by Location (Indoor and Outdoor), Technology (Context Aware, UWB, BT/BLE, Beacons, A-GPS), Software, Hardware, Service and Application Area - Global Forecast to 2021

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Report Code
TC 2371
Published ON
Jul, 2018
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