Location-based Services (LBS) and Real-Time Location Systems (RTLS) Market by Component (Platforms, Services, and Hardware), Location Type, Application (Tracking & Navigation, Marketing & Advertising), Vertical and Region - Global Forecast 2023 – 2030

Location-based Services (LBS) and Real-Time Location Systems (RTLS) Market: Overview

The location-based services (LBS) and RTLS market size is anticipated to increase from USD 22.3 billion in 2022 to USD 50.2 billion by 2027 With a CAGR of 17.6% during the forecast period.

Location-based Services (LBS) and Real-Time Location Systems (RTLS) are technologies that are used to determine the location of people or objects in real-time. LBS and RTLS technologies have found a wide range of applications in various industries, including healthcare, logistics, retail, transportation, and others. The LBS market is driven by the increasing adoption of smartphones and other mobile devices, which has led to the growing demand for location-based applications and services. These services provide users with personalized content, such as local news, weather updates, and traffic reports, as well as location-based advertising. On the other hand, the RTLS market is driven by the need for real-time asset tracking and monitoring in various industries, including healthcare, manufacturing, and logistics. RTLS technology enables organizations to track the location and movement of assets, such as equipment, inventory, and people, in real-time, which can improve operational efficiency and reduce costs.

COVID-19 Impact:

The COVID-19 pandemic has had a mixed impact on the location-based services (LBS) and real-time location systems (RTLS) market. On one hand, the pandemic has led to a surge in demand for certain types of LBS and RTLS applications, while on the other hand, it has caused disruptions in the supply chain and decreased demand for other types of applications. The demand for LBS and RTLS applications that help with contact tracing and social distancing has significantly increased since the pandemic started. For example, RTLS systems that help hospitals track equipment and staff have become more critical as healthcare facilities have had to deal with a surge in patients. Similarly, LBS apps that help users find nearby COVID-19 testing centers or vaccination sites have become more popular. On the other hand, the pandemic has disrupted the supply chain for LBS and RTLS hardware and software components. The lockdowns and travel restrictions imposed by various countries have affected the production and transportation of components, leading to delays and shortages. This has made it difficult for vendors to meet the demand for certain LBS and RTLS applications.

Location-based Services (LBS) and Real-Time Location Systems (RTLS) Market Drivers:

With the proliferation of mobile devices, the demand for location-based services has increased significantly. LBS applications are being used across industries such as retail, healthcare, logistics, and transportation to provide personalized services to customers. The increasing adoption of Internet of Things (IoT) devices and connected devices such as smartphones, wearables, and smart home devices is driving the demand for location-based services and real-time location systems. These devices generate a vast amount of location data that can be leveraged to provide valuable insights. The need for real-time asset tracking is driving the demand for RTLS solutions in industries such as healthcare, manufacturing, and logistics. RTLS solutions enable organizations to track assets such as equipment, vehicles, and personnel in real-time, leading to increased efficiency and productivity. The advancements in technologies such as artificial intelligence, machine learning, and big data analytics are enabling the development of advanced LBS and RTLS solutions. These solutions can provide real-time insights and help organizations make data-driven decisions. Governments across the world are increasingly investing in the development of smart cities, which require location-based services and real-time location systems. These initiatives are driving the demand for LBS and RTLS solutions.

Location-based Services (LBS) and Real-Time Location Systems (RTLS) Market: Restraints

The use of location-based services and real-time location systems requires the collection and processing of sensitive user data. This raises privacy concerns among consumers, who may be hesitant to share their location data with service providers. Location-based services and real-time location systems are vulnerable to security breaches, which can compromise user data and expose businesses to legal liabilities. The implementation of location-based services and real-time location systems requires significant investment in infrastructure, hardware, and software. This can be a barrier to entry for small and medium-sized businesses. Location-based services and real-time location systems rely on complex technologies such as GPS, Wi-Fi, and RFID. Technical challenges such as signal interference and accuracy can affect the performance of these systems. Limited adoption in certain industries: While location-based services and real-time location systems have gained widespread adoption in some industries such as logistics and healthcare, they are less commonly used in other industries such as retail and hospitality. This limits the potential market size for these technologies.

Location-based Services (LBS) and Real-Time Location Systems (RTLS) Market: Segmentation

The market can be segmented based on the type of technology used for location-based services and real-time location systems. This includes technologies such as Global Positioning System (GPS), Wi-Fi, Bluetooth Low Energy (BLE), Ultra-Wideband (UWB), and others. The market can be segmented based on the different applications of location-based services and real-time location systems. This includes applications such as asset tracking, fleet management, indoor navigation, geofencing, location-based advertising, and others. The market can be segmented based on the different end users of location-based services and real-time location systems. This includes end users such as healthcare, retail, transportation, logistics, government, and others. The market can be segmented based on geography, such as North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The market can be segmented based on the type of product, such as hardware, software, and services. The market can be segmented based on the industry verticals, such as Healthcare, Retail, Transportation & Logistics, Manufacturing, Aerospace & Defense, and others.

Location-based Services (LBS) and Real-Time Location Systems (RTLS) Market: Regional Landscape

North America is one of the leading regions in the LBS and RTLS market, owing to the high penetration of smartphones, widespread adoption of IoT devices, and the presence of major players such as Google, Cisco, and Microsoft. The U.S. is the largest market in the region, followed by Canada and Mexico. Europe is another significant market for LBS and RTLS, with a high concentration of technology companies and growing adoption of IoT devices across industries. The UK, Germany, France, and Italy are the major markets in the region. The Asia-Pacific region is the fastest-growing market for LBS and RTLS, driven by the increasing adoption of smartphones, rising demand for location-based services in logistics and transportation, and the emergence of smart cities. China, Japan, India, South Korea, and Australia are the major markets in the region. Latin America is a nascent market for LBS and RTLS, with a growing demand for location-based services in retail, hospitality, and transportation sectors. Brazil, Mexico, and Argentina are the major markets in the region. The Middle East and Africa region is witnessing a slow but steady growth in the LBS and RTLS market, owing to the increasing adoption of IoT devices and smart city initiatives. UAE, Saudi Arabia, and South Africa are the major markets in the region.

Location-based Services (LBS) and Real-Time Location Systems (RTLS) Market: Competitive Landscape

Some of the main competitors dominating the global Location-based Services (LBS) and Real-Time Location Systems (RTLS) Market include- Google Inc.,Apple Inc.,Microsoft Corporation,IBM Corporation,Cisco Systems Inc.,Qualcomm Technologies Inc.,Zebra Technologies Corporation,Siemens AG,HERE Technologies,Ericsson

Recent Developments

  • In 2021
  • HERE Technologies, a global location data and technology platform, announced a new partnership with Amazon Web Services (AWS) to integrate its location services with AWS IoT services. The partnership aims to simplify the development of location-aware IoT applications for industries such as automotive, logistics, and smart cities.
  • Ubisense Group plc, a provider of enterprise location intelligence solutions, announced the launch of its new SmartSpace 11 software platform for Real-Time Location Systems (RTLS). The platform is designed to enable businesses to gain greater visibility and control over their assets, processes, and people in real-time.
  • Zebra Technologies Corporation, a global provider of enterprise mobile computing, barcode scanning, and RFID solutions, announced the launch of its new SmartSight intelligent automation solution for retail stores. The solution leverages real-time location data to provide retailers with real-time visibility into their inventory levels, enabling them to optimize their store operations and improve the customer experience.
  • In 2020
  • Google announced that it will be launching a new feature for Google Maps that will allow users to see the live status of a crowdedness of a particular place. This feature will utilize LBS and real-time data to provide users with accurate information about how busy a place is in real-time.
  • Zebra Technologies Corporation, a global leader in RTLS technology, announced that it had been recognized as a Leader in the Gartner Magic Quadrant for Indoor Location Services, Global for the second consecutive year.
  • HERE Technologies, a leading provider of LBS and mapping services, announced that it had partnered with Amazon Web Services (AWS) to integrate its location data services with AWS IoT services. The partnership aims to provide businesses with real-time location data and insights to enable them to make better decisions.
  • Ubisense Group plc, a provider of RTLS solutions, announced that it had been acquired by Investcorp Technology Partners, a leading global technology investor. The acquisition is expected to accelerate Ubisense's growth and expansion into new markets.

Global Location-based Services (LBS) and Real-Time Location Systems (RTLS) Market is segmented as follows:

  • Technology:
  • GPS
  • Assisted GPS (AGPS)
  • Enhanced GPS (EGPS)
  • Wireless Fidelity (Wi-Fi)
  • Bluetooth Low Energy (BLE)
  • Near Field Communication (NFC)
  • Global Navigation Satellite System (GLONASS)
  • Others (UWB, RFID, etc.)
  • Application:
  • Navigation and mapping
  • Asset tracking
  • Location-based advertising
  • Geofencing
  • Location-based gaming
  • Emergency response management
  • Others (social networking, location-based analytics, etc.)
  • End-user:
  • Healthcare
  • Retail
  • Transportation and logistics
  • Government and defense
  • Manufacturing and automotive
  • Hospitality and tourism
  • Others (education, sports, etc.)

By Region

  • North America
  • The U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Southeast Asia
  • Rest of Southeast Asia
  • The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
  • Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

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Report Detail

  • Status:Published
  • Report Code:NNRR 75
  • No. of Pages:161
  • Published DateJune 2023
  • Category:Semiconductor and Electronic
  • Delivery Timeline:48 hrs

Customized

  • => Region Level Market Share
  • => Import Export Analysis
  • => Additional Company Profiles
  • => Region Specific Market Dynamics
  • => Production Analysis
  • => Additional Countries (Apart From Mentioned Countries)
  • => Country/Region-specific Report