Persistence Market Research
Global Location-Based Services Market: Drivers and Challenges
Exponential growth in the usage of smartphones and tablets is a primary factor fuelling the growth of the location-based services market. In addition, the growing usage of mobile commerce and the availability of low-cost GPS-enabled smartphones is expected to drive the location-based services market. Moreover, the rising popularity of social networking & mobile-based advertising, the evolution of internet of things, and an increase in the demand for wearable devices are also among factors creating potential growth opportunities for the location-based services market. Furthermore, the growing penetration of 3G and 4G networks and continuous increase in the number of internet users are also driving the location-based services market.
Apart from this, the high demand for advanced business intelligence tools and a shift towards artificial intelligence and machine learning technologies are boosting the demand for location-based services. In addition, technological advancements and the rising trend of cloud technologies are increasing the application areas of location-based services and are expected to provide numerous growth opportunities for location-based services in the near future.
Consumer speculation over the exposure of their personal data and anxiety about being followed & tracked are among factors hampering the growth of the location-based services market. Moreover, lack of awareness about location-based services is also one of the major challenges for the growth of the location-based services market.
Global Location-Based Services Market: Segmentation
Segmentation of the location-based services market on the basis of component:
Hardware Software Services Consulting System Integration Managed services Other
Segmentation of the location-based services market on the basis of application:
Location-based advertising Business intelligence and analytics Social networking and entertainment Mapping and navigation Others
Segmentation of the location-based services market on the basis of industry:
Banking, Financial Services and Insurance (BFSI) Retail Automotive
Global Location-Based Services Market: Competition Landscape
Some of the prominent players in the global location-based services market are Google Inc.; Apple Inc.; Micello Inc.; Hewlett Packard Enterprise; Microsoft Corporation; Zebra Technologies; Cisco Systems, Inc.; Ericsson; CommScope; IndoorAtlas Ltd. and Qualcomm Technologies, Inc.
Global Location-Based Services Market: Regional Overview
Among the regional markets, North America is expected to be a large market for location-based services due to the early adoption of digital technologies and the presence of various location-based service providers in the region. The demand for location-based services in APAC and Europe is expected to grow rapidly in the coming years due to the increasing adoption of mobile devices and developments in digital technologies in countries such as Japan, Germany, China, the U.K. and India.
The location-based services markets in Latin America and the MEA are also expected to witness high growth rates in the coming period due to the increasing adoption of smartphones and tablets in these regions.
The report covers exhaustive analysis on:
Regional analysis for Global Location Based Services Market includes
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.