San Francisco, California, September 21, 2017: The rising demand for location-based services (LBS) among end users in order to meet their varied provisioning needs based on geo-specificity of devices they use is a key factor boosting the market. The growing number of use cases of location-based services across diverse areas such as retail, education, healthcare, entertainment, and manufacturing and distribution is predicted to bolster the adoption of these services world over. The intensifying demand for query- and information- based services in various nations is a key factor catalyzing its adoption over the forecast period. The rising popularity of location-based software applications among users of networking sites is a prominent trend anticipated to accentuate the market in the coming years. A new report penned by TMR Research, titled “Location-based Services Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” offers a detailed and incisive assessment of such trends and factors influencing and shaping the growth of the market.
A burgeoning adoption of mobile devices, along with a soaring demand for global navigation satellite system in a number of these devices, is a key trend boosting the market. The rising adoption of wireless technologies by various phone makers is offering robust fillip to the implementation of LBS. Location-based services are gaining traction among providers to enable the customization of offerings based on geo-specifics of the device and the growing inclination to include push-based services among them. In addition, the increasing demand for location-based services in social media monitoring tools is a crucial trend expected to bolster the uptake. Coupled with this, a rapidly growing penetration of tablets and personal digital assistants is expected to open new commercial opportunities for players in various regions.
The rising penetration of web-enabled mobile devices in various developing and developing nations is propelling the demand for location-based services. The growing popularity of pull type location-based services, fuelled by the advent of mobile apps to support these services, is a seminal factor expected to catalyze the growth of the market. Furthermore, the growing adoption of mobile devices that use satellite navigation systems for gaming is expected to open up exciting opportunities for market players.
World over, a number of government bodies are looking to harness the potential of location-based services for implementing enhanced safety measures in public places. The increasing demand for LBS in the area of defense for improving operational efficiencies is a key factor boosting the market. The government and the defense sector together account for a noticeable share in the market. The growing demand for location-based among numerous e-commerce players for increasing the accuracy of transaction is a key factor that bodes well for the market. The rising demand for LBS for food delivery is a crucial factor providing a robust fillip to the adoption in e-commerce industry.
The advent of advanced location-based services solutions and recent advances made in various communications-centric wireless systems for outdoor and indoor applications are expected to unlock promising avenues for market players. The increasing number of regional and global technology companies vying for a share of the market are expected to launch user-friendly software and applications. The growing demand for more advanced LBS for application areas such as carpooling and fleet management will inspire technology players to develop better software. In addition, the rising demand for location-based services in the transport industry is further expected to unlock lucrative avenues for market players.
Some of the leading players operating in the location-based services market are AT&T Inc., Google, Alcatel-Lucent SA, SAP SE, Oracle Corporation, Cisco Systems, Inc., Bharti Airtel, LTD., International Business Machines Corporation, Ltd., Microsoft, and Apple, Inc.
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