MarketsandMarkets forecasts the global Location-Based Service (LBS) and Real-Time Location Systems (RTLS) market size is expected to grow USD 22.3 billion in 2022 to USD 50.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 17.6% during the forecast period.
The major vendors covered in the Location-Based Service (LBS) and Real-Time Location Systems (RTLS) market are AiRISTA Flow (US), Apple (US), Aruba Networks (US), CenTrak (US), Cisco (US), Ericsson (US), ESRI (US), GE Healthcare (US), Google (US), HERE (Netherlands), IBM (US), KDDI (Japan), Leantegra (US), Microsoft (US), Navigine (US), NTT Docomo (Japan), Oracle (US), Qualcomm (US), Quuppa (Finland), Sewio Republic (Czech Republic), Spime (US), Identec Group (Liechtenstein), Infor (US), TeleTracking Technologies (US), MYSPHERA (Spain), Stanley Healthcare (US), Teldio (Canada), TomTom (Netherlands), Ubisense (UK), Zebra Technologies (UK). These players have implemented various growth strategies, such as partnerships, business expansions, mergers and acquisitions, agreements, and collaborations, new product launches to develop their presence in the Location-Based Service (LBS) and Real-Time Location Systems (RTLS) market. The most widely used strategies by businesses have been partnerships and new product launches which helped them transform their offerings and widen their customer base.
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Cisco offers services and goods for telecommunications equipment, software, and hardware. The business produces, develops, and markets networking products based on the Internet Protocol (IP). For enterprise customers, public institutions, telecommunications firms, commercial businesses, and private residences, the company provides a broad range of LBS products and services. In the LBS and RTLS sector, Cisco offers the Cisco Unified Wireless LBS, which makes use of enterprise WLANs along with location tracking. Network administrators and network security professionals who support the safety and effectiveness of company networks frequently employ Cisco's products and services.
Google specializes in web-based services, such as cloud computing and search engines. It provides a wide range of products, including Ads, Google Cloud, the Android operating system, Google Play, Chrome, and YouTube. The corporation divides its offerings into nine categories: web, mobile, business, media, geo, specialized search, home and office, social networking, and innovation. Earth and Maps are two of the company's geo offerings. A desktop web mapping tool called Google Maps provides real-time traffic information, street maps, 360-degree panoramic views of streets, satellite imagery, and route planning for commuters using cars, bicycles, and public transportation as well as for walkers. A virtual globe that shows geographic data is called Google Earth.
Location-based Services (LBS) and Real-Time Location Systems (RTLS) Market by Component (Platforms, Services, and Hardware), Location Type, Application (Tracking & Navigation, Marketing & Advertising), Vertical and Region - Global Forecast to 2027
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