Location-Based Service (LBS) and Real-Time Location Systems (RTLS) Market worth $48.5 billion by 2026 - Exclusive Report by MarketsandMarkets™
CHICAGO, Nov. 2, 2021 /PRNewswire/ -- According to a research report "Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market with COVID-19 Impact Analysis, by Component (Platform, Services, and Hardware), Location Type (Indoor and Outdoor), Application, Vertical and Region – Global Forecast to 2026", published by MarketsandMarkets™, the global Location-Based Service (LBS) and Real-Time Location Systems (RTLS) Market size is expected to grow USD 20.0 billion in 2021 to USD 48.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.4% during the forecast period. The Location-Based Service (LBS) and Real-Time Location Systems (RTLS) Market is growing due to Proliferation of social media, smartphones, and location-based applications among consumers.
Browse in-depth TOC on "Location-Based Service (LBS) and Real-Time Location Systems (RTLS) Market"
309 – Tables
48 – Figures
255 – Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=96994431
Indoor segment to grow at the highest CAGR during the forecast period
Indoor positioning tracks all the data, objects, or people within an enclosed area using magnetic fields, acoustic signals, radio waves, or other sensory information collected by connected devices. The technology helps in recording real-time monitoring of data to visualize a visitors' behavior and preferences. Earlier, GPS was used for the same purpose. However, due to signal interference from hard walls, indoor location positioning technologies were introduced. Unlike GPS, there is no single standard method for indoor navigation. For instance, Google uses Wi-Fi technology to track a location while Broadcom chip supports indoor location systems through Wi-Fi, Bluetooth, and NFC. Apple released iBeacon, a BLE-based technology, to provide location-based information and services to iPhones and other iOS devices. Navigation systems for indoor locations were built to acquire highly accurate localization and address the inefficiencies of GPS in such locations.
Location-based health monitoring segment is expected to grow at a higher CAGR during the forecast period
An increasing number of LBS-based applications focus on healthcare, particularly on exercise and fitness monitoring, remote health monitoring, fall detection, and lone worker protection among others. In recent years, there has been a trend in integrating LBS with other wearable sensors (to sense heart rate, blood pressure, and body temperature) for health monitoring and providing personalized healthcare information and services. LBS is also being used as assistive technology to enable visually impaired people and differently-abled and elderly people to perform their daily living activities independently and experience an improved quality of life. These assistive systems provide assisted-living functions, such as personalized navigation, obstacle detection, space perception, and independent shopping. The increasing awareness relate to preventive healthcare also significantly affected the fitness trend in recent years. Several desk job workers are facing health problems due to reduced physical activity. This, in turn, is expected to lead to an increased number of advanced wellness and fitness solutions. The increasing demand for wellness and fitness solutions as well as wearable devices is expected to boost the demand for location-based health monitoring.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=96994431
Asia Pacific (APAC) region to record the highest growing region in the Location-Based Service (LBS) and Real-Time Location Systems (RTLS) market
The APAC LBS and RTLS market is projected to witness significant growth opportunities in the next five years. The existence of a large population, developing technologies, and high economic growth in countries, such as China, India, Australia, Japan, Singapore, and Hong Kong are the major contributing factors for the growth of the LBS and RTLS market in the region.
Key and innovative vendors in Location-Based Service (LBS) and Real-Time Location Systems (RTLS) Market are AiRISTA Flow (US), Apple (US), Aruba Networks (US), CenTrak (US), Cisco (US), Ericsson (US), ESRI (US), GE Healthcare (US), Google (US), HERE (Netherlands), IBM (US), KDDI (Japan), Leantegra (US), Microsoft (US), Navigine (US), NTT Docomo (Japan), Oracle (US), Qualcomm (US), Quuppa (Finland), Sewio Republic (Czech Republic), Spime (US), Stanley Healthcare (US), Teldio (Canada), TomTom (Netherlands), Ubisense (UK), Zebra Technologies (UK).
Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting
Related Reports:
Location Analytics Market by Component (Solutions and Services), Location Type (Indoor Location and Outdoor Location), Application (Remote Monitoring, Risk Management), Vertical (Retail, Government and Defense), and Region - Global Forecast to 2025
Real-Time Location Systems Market (RTLS) Market with COVID-19 Impact Analysis by Offering (Hardware, Software, Services), Technology, Vertical (Healthcare, Manufacturing, Retail, Education, Govt., Sports), Application/Use case, Geography- Global Forecast to 2025
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/location-based-service-market.asp
Visit Our Website: https://www.marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/location-based-service.asp
SOURCE MarketsandMarkets
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article