Global Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Overview And Statistics For 2024-2033

TBRC's Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 4, 2024 /EINPresswire.com/ -- The location-based services (lbs) and real-time location systems (rtls) market has experienced robust growth in recent years, expanding from $27.23 billion in 2023 to $33.74 billion in 2024 at a compound annual growth rate (CAGR) of 23.9%. The growth in the historic period can be attributed to demand for contactless solutions, industrial and manufacturing use, transportation and logistics, healthcare utilization, retail industry adoption.

What Is The Estimated Market Size Of The Global Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market And Its Annual Growth Rate?
The location-based services (lbs) and real-time location systems (rtls) market is projected to continue its strong growth, reaching $80.8 billion in 2028 at a compound annual growth rate (CAGR) of 24.4%. The growth in the forecast period can be attributed to rise in iot integration, increasing demand in healthcare, expansion in retail and e-commerce, smart city development, post-pandemic solutions. Major trends in the forecast period include regulatory compliance and data privacy, strategic collaborations, enhanced safety and security, smart city initiatives, fleet management and transportation.

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Growth Driver of The Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market
The surge in the use of smartphones is expected to propel the growth of the location-based services and real-time location systems market going forward. A smartphone refers to a portable electronic gadget with a cellular network connection. Location-based services and real-time location systems use the internet, geospatial technologies, and communication technologies to deliver information to individual smartphones in real-time, based on their geographic location, and assist in driving this market.

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Which Market Players Are Driving The Location-Based Services And Real-Time Location Systems Market Growth?
Key players in the location-based services (lbs) and real-time location systems (rtls) market include NTT Docomo Inc., Google LLC, Oracle Corporation, Quuppa Intelligent Locating System, Airista Flow Inc., TomTom N.V, Qualcomm Incorporated, Zebra Technologies Corporation, Navigine Corp., Stanley Black & Decker Inc., Apple Inc., Teldio Avigilon Solutions, International Business Machines Corporation, Cisco Systems Inc., Microsoft Corporation, Ericsson India Private Limited, Aruba Networks, CenTrak, Wipro GE Healthcare Pvt. Ltd., Trimble Inc., Foursquare Labs Inc., Baidu Inc., AutoNavi Holdings Limited, Ubisense Group plc, HERE Technologies, KDDI Corporation, Leantegra Inc., Sewio Networks s.r.o., Spime Inc., Identec Group AG, Infor Inc., TeleTracking Technologies Inc.

What Are The Key Trends That Influence Location-Based Services And Real-Time Location Systems Market Share Analysis?
Major companies operating in the location-based services (LBS) and real-time location systems (RTLS) market are developing innovative products such as workplace applications to meet larger customer bases, more sales, and increase revenue. Workplace applications refer to software programs or tools designed to facilitate and enhance various aspects of work within an organization.

How Is The Global Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Segmented?
1) By Component: Hardware, Software, Services
2) By Location Type: Indoor, Outdoor
3) By Application: Tracking And Navigation, Marketing And Advertisement, Location-Based Social Networks, Location-Based Health Monitoring, Other Applications
4) By End User: Manufacturing, Healthcare And Life Sciences, Media And Entertainment, Government, Retail, Transportation

Geographical Insights: North America Leading The Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market
North America was the largest region in the location-based services (LBS) and real-time location systems (RTLS) market share in 2023. The regions covered in the location-based services (lbs) and real-time location systems (rtls) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Market Definition
Real-time location systems are similar to location-based services which are based on a user's location as determined by the geographical location of the device and use real-time geo-data from a smartphone to provide information, entertainment, or security. These systems also provide information on directions, local advertising, and local news.

Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Global Market Report 2024 from The Business Research Company covers the following information:
•Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global location-based services (lbs) and real-time location systems (rtls) market report covering trends, opportunities, strategies, and more
The Location-Based Services (LBS) And Real-Time Location Systems (RTLS) Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on location-based services (lbs) and real-time location systems (rtls) market size, location-based services (lbs) and real-time location systems (rtls) market drivers and trends, location-based services (lbs) and real-time location systems (rtls) market major players, location-based services (lbs) and real-time location systems (rtls) competitors' revenues, location-based services (lbs) and real-time location systems (rtls) market positioning, and location-based services (lbs) and real-time location systems (rtls) market growth across geographies. The location-based services (lbs) and real-time location systems (rtls) market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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