Location-Based Service (LBS) and Real-Time Location Systems (RTLS) Market worth $50.2 billion by 2027 - Exclusive Report by MarketsandMarkets™

CHICAGO, Jan. 23, 2023 /PRNewswire/ -- The Global Location-Based Service (LBS) and Real-Time Location Systems (RTLS) Market size is expected to grow from 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

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=96994431

Indoor segment to grow at the highest CAGR during the forecast period

Indoor positioning uses magnetic fields, acoustic signals, radio waves, or other sensory data acquired by linked devices to monitor all the data, objects, or people inside an enclosed space. The technology aids in real-time monitoring of data recording to visualise visitors' preferences and activity. Prior until now, GPS served the same function. However, indoor location positioning solutions were established as a result of signal interference from hard walls. For interior navigation, there isn't a single accepted technique like there is with GPS. For instance, although Broadcom's chip supports indoor location systems via Wi-Fi, Bluetooth, and NFC, Google tracks a user's whereabouts using Wi-Fi technology. In order to give location-based information and services to iPhones and other iOS devices, Apple released iBeacon, a BLE-based technology.

Location-based health monitoring segment is expected to grow at a higher CAGR during the forecast period

A growing number of LBS-based applications are focused on healthcare, including, among others, fall detection, exercise and fitness monitoring, remote health monitoring, and lone worker protection. In recent years, it has been popular to combine LBS with various wearable sensors (that can measure body temperature, blood pressure, and heart rate) in order to monitor health and deliver individualized healthcare services and information. LBS is also utilised as assistive technology to help the elderly, those with disabilities, and those who are visually impaired carry out their everyday tasks independently and enjoy a higher quality of life. These assistive devices offer assisted-living features including independent shopping, customised navigation, obstacle detection, and spatial perception. The recent fitness movement was substantially impacted by the rising knowledge of preventive healthcare.

Request Sample Pages @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=96994431

North America region to record the highest growing region in the Location-Based Service (LBS) and Real-Time Location Systems (RTLS) Market

The LBS and RTLS market currently has the greatest market share in North America. The US and Canada are the two countries that contribute most to the global market. By region, the LBS and RTLS market belongs to the US the most. In the US, some of the key verticals generating income for the LBS and RTLS markets include retail, manufacturing, transportation & logistics, and government. Increased technology development, rising LBS and RTLS industry standards, and rising financial backing from the governments of numerous North American nations are all factors contributing to the region's prosperity. In the LBS and RTLS markets, there have been an abundance of startups in the area.

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).

Browse Adjacent Markets: Digitalization and Internet of Things (IoT) Market Research Reports & Consulting

Browse Other Reports:

Green Technology and Sustainability Market- Global Forecast to 2027

Intelligent Process Automation Market- Global Forecast to 2027

Smart Building Market- Global Forecast to 2026

Digital Payment Market- Global Forecast to 2026

Smart Water Management Market- Global Forecast to 2026

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are moulded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit MarketsandMarkets™  or follow us on Twitter, LinkedIn and Facebook.

Contact: 
Mr. Aashish Mehra 
MarketsandMarkets™ INC 
630 Dundee Road
Suite 430 
Northbrook, IL 60062 
USA: +1-888-600-6441 
Email: sales@marketsandmarkets.com 
Visit Our Website: https://www.marketsandmarkets.com 
Research Insight:  https://www.marketsandmarkets.com/ResearchInsight/location-based-service-market.asp 
Content Source: https://www.marketsandmarkets.com/PressReleases/location-based-service.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg