With the advancements in the area of mobile communication, there is a rapid rise in the adoption of location based services. A location based service is an application which is capable of enable users’ access to services based on their real time locations. Some of them include search, navigation, tracking and many more.
Location based service uses real-time location information of users with the help of their mobile devices to provide services nearby the user such as entertainment, information and many more. Location based services can be used in several perspectives such as health related, financial or other user interests. For instance, location based services can help in finding services such as the nearest ATM or tracking the location of delivery vehicle.
Individual users can take advantage of location based services through location based search, location based gaming and also helps in providing navigational services. For enterprises, location based services are helpful in deploying mobile workforce management, asset tracking management, logistics optimization through selection of optimal routes, and location based advertising based on target segment.
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Major Key Players
Some of the key players in the global location based services market are Cisco systems (U.S.), Google Inc. (U.S.), IBM Corp. (U.S.), Microsoft Corp. (U.S.), Oracle Corp. (U.S.), Qualcomm (U.S.), ESRI (U.S.), Zebra Technologies (U.S.), Ericsson (Sweden.), Teldio (U.S.) among others.
The global location based services market is estimated to grow up to USD 80 Billion by 2023 with approximate CAGR of 28 % during forecast period 2017 to 2023.
The market for global Location Based Service Market is segmented on the basis of location type, component, application, end-users, and region. On the basis of location type, the segment is further classified into indoor location and outdoor location. On the basis of component, the segment hardware, software, and services. The hardware segment is further divided into sensors and readers, tags and transponders and others. The software segment is further classified into location analytics, geocoding and reverse geocoding, reporting and visualization, risk analytics, and many others. The services can be classified into deployment and integration, support and maintenance and consulting services. Location based services can be used in various applications such as location based navigation, location based search and advertising, location based tracking, location based infotainment and others. The end-user industries of location based services are BFSI, retail, Defense, government, media & entertainment, industrial manufacturing and many more.
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Key Findings of Report:
Acuity Brands, Inc., an electronics manufacturing company, is offering end to end indoor positioning services which are based on IoT platform. The solution from Acuity helps organizations to enhance their business operations by providing customer interaction.
In future, Blockchain technology is about to enhance location-based advertising. Block chain technology acts as monetary reward which can be customized as per the requirements in location based service, which can be used for targeting specific group.
- Mobile network operators
- LBS applications developers
- Wireless infrastructure provider
- Mobile content developers and aggregators
- Mobile commerce and advertising companies
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