Chicago, Feb. 24, 2023 (GLOBE NEWSWIRE) -- The global Location-Based Service (LBS) and Real-Time Location Systems (RTLS) Market size is expected to grow USD 22.3 billion in 2022 to USD 50.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 17.6% during the forecast period, according to a new report by MarketsandMarkets™.
Browse in-depth TOC on “Location-Based Service (LBS) and Real-Time Location Systems (RTLS) Market”
311 - Tables
43 - Figures
261 - Pages
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Scope of the Report
| Report Metrics | Details |
| Market value in 2027 | USD 50.2 Billion |
| Market value in 2022 | USD 22.3 Billion |
| Market Growth Rate | 17.6% CAGR |
| Largest Market | Asia Pacific |
| Market size available for years | 2017-2027 |
| Base year considered | 2021 |
| Segments covered | By component, deployment mode, organization size, vertical, and region |
| Regions covered | North America, Europe, Asia Pacific, and Rest of World |
| Companies covered | 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), Identec Group (Liechtenstein), Infor (US), TeleTracking Technologies (US), MYSPHERA (Spain), Stanley Healthcare (US), Teldio (Canada), TomTom (Netherlands), Ubisense (UK), Zebra Technologies (UK). |
LBS are information services that employ real-time geodata from a smartphone or mobile device to give the user information that is service-based or value-added. To pinpoint the user's location and streamline the transmission of data and information services, the services either use network-based technologies or embedded satellite navigation receivers. Local positioning and tracking systems, or RTLS, are generally used to identify and locate targets, persons, or items precisely in real-time across a variety of contexts and sectors. With stationary receivers, readers, trackers, exciters, reference points, or access points put nearby, RTLS tags, badges, or sensors that are affixed to items or worn by humans can wirelessly communicate.
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The scope of this report covers the study which provides an analysis of the global Location-Based Service (LBS) and Real-Time Location Systems (RTLS) Market based on contemporary market trends and developments and its potential growth from 2017 to 2027. The global Location-Based Service (LBS) and Real-Time Location Systems (RTLS) Market is categorized based on component, deployment mode, organization size, vertical, and region. The market size is estimated based on the approximation of the market shares of major vendors in the Location-Based Service (LBS) and Real-Time Location Systems (RTLS) Market. The market size is constructed from 2022-2027, considering 2021 as the base year.
In sectors such as healthcare, transportation, retail, advertising, and public administration, LBS and location monitoring technologies are becoming disruptive and revolutionary for many businesses. The main application areas of RTLS are supply chain management, operational automation, and visibility, as well as inventory/asset tracking and management, staff monitoring, personnel monitoring, access control, security, environmental monitoring, yard, dock, fleet, and warehouse management and monitoring. Location-based social media networks, location-based gaming, location-based health monitoring, and transport LBS are just a few of the numerous new uses of LBS and RTLS that have arisen in recent years. Most systems using LBS are navigation and mapping systems. The usage of LBS for driver assistance, fleet management, and passenger information are just a few of the LBS applications that the transportation industry has been one of the biggest users of.
Top Key Players
Key and innovative vendors in the 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), Identec Group (Liechtenstein), Infor (US), TeleTracking Technologies (US), MYSPHERA (Spain), Stanley Healthcare (US), Teldio (Canada), TomTom (Netherlands), Ubisense (UK), Zebra Technologies (UK).
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