The demand within the global location-based services market is growing in lieu of advancements in corporate management. The increasing reliance of companies and offices on hardware technologies has created fresh opportunities for market growth. Furthermore, the use of location-based services for accessing files and data from a common portal has also created fresh opportunities for market growth. Therefore, the global location-based services market is slated to become a powerhouse of revenues in the coming years. Several access policies pertain to the use of location-based services, and these policies can be adjusted according to location or time-of-day. The contemporary-day digital industry is becoming increasingly reliant on the use of these services.
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This blog by TMR Research throws light on the most important factors responsible for the growth of the global location-based services market. The blog looks into applications of location-based services across entertainment channels, corporate management practices, and individual storage requirements.
Need for Data Analysis
The use of data mining tools to gather key information about specific areas comes under the purview of location-based services. There is a huge-scale demand for location-based services in information service and social networking. Besides, new industries are also on the verge of adopting location-based services in order to drive growth.
Growth of Healthcare Industry
ATMs or cash points are also monitored with the help of location-based services. This factor, couple with the stellar importance of plastic money, has generated fresh revenues for market growth. The healthcare industry has lately become a key consumer of location-based services. The need for improved patient monitoring has also created fresh opportunities for market growth.
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Some of the prominent players operating in the global location-based services market are International Business Machines Corporation, Ltd., LTD., Bharti Airtel, Cisco Systems, Inc., and Oracle Corporation.