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Location-based services are mobile-accessible data services using the mobile device location. Integration of location-based services and mobile devices allows numerous opportunities over services that can be supplied based on location data. The primary objective of location-based service is to provide location-based assessment, visualization, and real-time equipment monitoring, as well as tracking individuals in various places, such as emergency wards, operating rooms, and fabrication facilities.
Due to remarkable growth in the deployment of smart cities, location-based services are anticipated to be widely adopted for proximity and navigation apps. Mobile operators are providing location information for a broad spectrum of services, including fraud management, safe authentication and analytics and they are also using anonymous bulk location information to enhance their network performance and promote internal marketing campaigns. In terms of the number of customers, the social networking and entertainment sectors are now the largest location-based services domains.
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Increasing use of smartphones and developing self- driving cars and technology are the key drivers anticipated to contribute to the growth of the location-based services market. Increasing investment of organizations in the location-based services technology is also another significant driver of development in the industry. The problem of accommodating the privacy issues of location-based services consumers remains a major challenge for location-based services.
Key Players in global location-based services market include Apple Inc., Google Inc., Cisco Systems Inc., Intel Corporation, Qualcomm Inc., Samsung Electronics Co., Ltd., Facebook, IBM Corp, and HERE.
- Integration and Implementation
- Support and Maintenance
· Emergency services
· Fleet management
By end-user industry
· Banking, Financial Services, and Insurance(BFSI)
· IT and Telecom
· Transportation and Logistics
· Healthcare and Life Sciences
· North America (the USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
· Latin America (Brazil, Mexico and Rest of Latin America)
North America is projected to have a significant market share during the forecast period due to growing smartphone penetration and IoT technology development in the region and presence of prominent players like Microsoft Corporation and Google Inc. who actively work in location-based services research and development. The U.S. and Canada are the largest markets of location-based services in North America.
Europe involves technologically enhanced, fully reliable agencies on location-based services. The organizations working culture is rapidly evolving at simple places towards substantial information and data management due to which there has been a growing demand for location monitoring applications and devices that benefit the supply chain, company, transportation, etc.
Asia Pacific's market dominance is ascribed to the existence in the region of a big amount of smartphone consumers. Country wise China is the largest location-based services market in the world. The emerging APAC nations like India, South Korea, Singapore, and Malaysia have a big base of end-users using location-based services, which contributes a larger share in the location-based services market.