Home Latest News Location-Based Services (LBS) Market Report 2022: A $96.85 Billion Market by 2027...

Location-Based Services (LBS) Market Report 2022: A $96.85 Billion Market by 2027 – Global Industry Trends, Opportunities and Forecasts – ResearchAndMarkets.com – Business Wire

DUBLIN–(BUSINESS WIRE)–The “Location-Based Services (LBS) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.

The global location-based services (LBS) market reached a value of US$ 27.28 Billion in 2021. Looking forward, the the market to reach a value of US$ 96.85 Billion by 2027, exhibiting a CAGR of 23.51% during 2021-2027.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Location-Based Services (LBS) Market Trends:
The growing utilization of LBS to locate friends, nearest restaurants, or advertising deals to shoppers in the nearby area currently represents one of the key factors driving the market. Moreover, there is a rise in the demand for LBS among businesses to offer a dynamic user experience and a convenient method for interacting with customers.
This, along with the technological advancements, such as global cell identity (CGICTA), enhanced observed time difference (E-OTD), and a combination of mobile positioning and satellite-based global positioning system (GPS), is positively influencing the market. In addition, governments of several countries are promoting the use of LBS to achieve smooth transportation goals as a part of their smart city projects, which is propelling the growth of the market.
Besides this, key market players are extensively investing in research and development (R&D) activities to introduce 3D map applications with smartphones. This, coupled with the escalating demand for LBS in the e-commerce industry, is expected to strengthen the growth of the market in the coming years.
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
Key Questions Answered in This Report:
Key Market Segmentation:
Breakup by Component:
Breakup by Technology:
Breakup by Location Type:
Breakup by Application:
Breakup by End User:
Breakup by Region:
For more information about this report visit https://www.researchandmarkets.com/r/q29nqs
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
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ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

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