Location Based Services Market Business Analysis, Growth and Forecast Report
The location based services market is estimated to reach USD 26.7 billion in 2023, and it will touch USD 83.9 billion, propelling at a 17.8% compound annual growth rate, by 2030.
Additionally, the ease of accessibility of 4G networks, increasing disposable income, and speedy deployment of 5G infrastructure will further boost the advancement of this industry.
The surge in the acceptance of platforms that offer higher accuracy is the outcome of the improvements in real-time location systems and LBS over the recent years. These developments have resulted in the augmentations in the effectiveness and a drop in the prices of RTLS solutions, as a result, their usage has enlarged across various sectors, for instance, industrial manufacturing, logistics, healthcare, process, and defense.
For Getting More Insights of This Report:-
https://www.psmarketresearch.com/market-analysis/location-based-services-market
The solutions category, based on component, accounted for the largest location-based services market share. This is because of the surge in the necessity for location-based platforms to promote proximity marketing in the sector of retail.
In 2023, the outdoor category, based on location type, accounted for the larger share of the industry. This is because of the increasing requirements for progressive route mapping solutions, navigation & outdoor mapping applications, as well as the surging accessibility of apps for outdoor GPS navigation in vehicles & smartphones.
North America led the industry, and it will remain leading in the years to come. This can be mainly because of the surging utilization of mobile phones and progressing communication technologies. Moreover, establishments in North America are implementing GPS data to track the actions of their users and to gather info about their buying behavior.
APAC will advance at the fastest rate in the years to come. This can be because of the rising placement of high-speed telecommunication networks, helpful steps of the government, and the growing necessity for LBS in the sector of food & beverage to transport consumable goods over the cold chain.
It is because of the mounting infiltration of smartphones with GPS across the globe, the location-based services industry will witness robust growth in the years to come.
The location based services market is estimated to reach USD 26.7 billion in 2023, and it will touch USD 83.9 billion, propelling at a 17.8% compound annual growth rate, by 2030.
Additionally, the ease of accessibility of 4G networks, increasing disposable income, and speedy deployment of 5G infrastructure will further boost the advancement of this industry.
The surge in the acceptance of platforms that offer higher accuracy is the outcome of the improvements in real-time location systems and LBS over the recent years. These developments have resulted in the augmentations in the effectiveness and a drop in the prices of RTLS solutions, as a result, their usage has enlarged across various sectors, for instance, industrial manufacturing, logistics, healthcare, process, and defense.
For Getting More Insights of This Report:-
https://www.psmarketresearch.com/market-analysis/location-based-services-market
The solutions category, based on component, accounted for the largest location-based services market share. This is because of the surge in the necessity for location-based platforms to promote proximity marketing in the sector of retail.
In 2023, the outdoor category, based on location type, accounted for the larger share of the industry. This is because of the increasing requirements for progressive route mapping solutions, navigation & outdoor mapping applications, as well as the surging accessibility of apps for outdoor GPS navigation in vehicles & smartphones.
North America led the industry, and it will remain leading in the years to come. This can be mainly because of the surging utilization of mobile phones and progressing communication technologies. Moreover, establishments in North America are implementing GPS data to track the actions of their users and to gather info about their buying behavior.
APAC will advance at the fastest rate in the years to come. This can be because of the rising placement of high-speed telecommunication networks, helpful steps of the government, and the growing necessity for LBS in the sector of food & beverage to transport consumable goods over the cold chain.
It is because of the mounting infiltration of smartphones with GPS across the globe, the location-based services industry will witness robust growth in the years to come.
Location Based Services Market Business Analysis, Growth and Forecast Report
The location based services market is estimated to reach USD 26.7 billion in 2023, and it will touch USD 83.9 billion, propelling at a 17.8% compound annual growth rate, by 2030.
Additionally, the ease of accessibility of 4G networks, increasing disposable income, and speedy deployment of 5G infrastructure will further boost the advancement of this industry.
The surge in the acceptance of platforms that offer higher accuracy is the outcome of the improvements in real-time location systems and LBS over the recent years. These developments have resulted in the augmentations in the effectiveness and a drop in the prices of RTLS solutions, as a result, their usage has enlarged across various sectors, for instance, industrial manufacturing, logistics, healthcare, process, and defense.
For Getting More Insights of This Report:-
https://www.psmarketresearch.com/market-analysis/location-based-services-market
The solutions category, based on component, accounted for the largest location-based services market share. This is because of the surge in the necessity for location-based platforms to promote proximity marketing in the sector of retail.
In 2023, the outdoor category, based on location type, accounted for the larger share of the industry. This is because of the increasing requirements for progressive route mapping solutions, navigation & outdoor mapping applications, as well as the surging accessibility of apps for outdoor GPS navigation in vehicles & smartphones.
North America led the industry, and it will remain leading in the years to come. This can be mainly because of the surging utilization of mobile phones and progressing communication technologies. Moreover, establishments in North America are implementing GPS data to track the actions of their users and to gather info about their buying behavior.
APAC will advance at the fastest rate in the years to come. This can be because of the rising placement of high-speed telecommunication networks, helpful steps of the government, and the growing necessity for LBS in the sector of food & beverage to transport consumable goods over the cold chain.
It is because of the mounting infiltration of smartphones with GPS across the globe, the location-based services industry will witness robust growth in the years to come.
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