Industry Background:
Location-based services are the type of services offered through a mobile phone and take into account the device’s geographical location. They typically offer information or entertainment. They are largely dependent on the mobile user’s location, the primary objective of the service provider’s system is to determine where the user is. There are numerous applications of location-based services including local news, points of interest, directions, directory assistance, fleet management, emergency, asset tracking, location-sensitive building, and local advertisement, among others. The rise in the use of location-based mobile advertising is one of the major factor contributing to the growth of the market.
According to AMA, the market for Location Based Services is expected to register a CAGR of 26.1% during the forecast period to 2026. This growth is primarily driven by Increasing Competitiveness and Higher Adoption of Bi Solutions, Higher Adoption of LBS and RTLS for Various Industry Applications, The rise in the Use of Location-Based Mobile Advertising, Increasing Use of Social Media Marketing and The proliferation of Location-Based Apps among Consumers.
Globally, a noticeable market trend is evident The Increasing Popularity of Cloud-Based Big Data Analytics. The Telecom Services sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Cisco Systems, Inc. (United States), Google Inc. (United States), Alcatel-Lucent SA (France), AT&T Inc. (United States), International Business Machines Corporation (United States), Qualcomm Inc. (United States), Microsoft Corporation (United States), Oracle Corporation (United States), Apple, Inc. (United States) and Bharti Airtel, LTD. (India) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 4 Feb 2019, TomTom (TOM2) and Microsoft Corp. have announced that they are expanding their partnership, bringing TomTom’s maps and traffic data into a multitude of mapping scenarios across Microsoft’s cloud services. With this broadened integration, TomTom will be a leading location data provider for Microsoft Azure and Bing Maps. TomTom is also expanding its relationship with Microsoft, selecting Microsoft Azure as its preferred cloud provider.
Recently, AT&T launched cloud-based location-based services mobility data offerings. To help businesses and organizations with mobile initiatives improve productivity and have better visibility into their assets. and On 28 2017, Microsoft Corp. launched Azure Location Based Services to offer enterprise customers location capabilities. Azure Location Based Services are integrated directly into Azure, enabling enterprise customers to add Location Based Services to their existing Azure cloud solutions with the assurance that it meets Azure’s world-class standards of privacy, compliance, scalability, management, and simplicity.
Market Drivers
- Increasing Competitiveness and Higher Adoption of Bi Solutions
- Higher Adoption of LBS and RTLS for Various Industry Applications
- The rise in the Use of Location-Based Mobile Advertising
- Increasing Use of Social Media Marketing
- The proliferation of Location-Based Apps among Consumers
Market Trend
- The Increasing Popularity of Cloud-Based Big Data Analytics
Restraints
- High Costs of RTLS
- Legal and Privacy Concerns
Opportunities
Evolution of IoT, Increasing Demand for Wearable Devices, Support from Government for Encouraging the Use of RTLS and LBS Technologies and New Opportunities in the Industrial Manufacturing Sector
Challenges
Privacy and Security Concerns, Connectivity and Data Integration Issues, Lack of Skilled Professionals, Stringent Government Rules and Regulations, Lack of Awareness, Expertise, and Other Operational Challenges and Mobile App Data Privacy Concerns
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Location Based Services Study Sheds Light on
The Location Based Services Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Location Based Services industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Location Based Services industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.