Location Based Services Market to Reach $157.34 Billion by 2026 at 27.1% CAGR: Says AMR | Financial Buzz

Location Based Services Market to Reach $157.34 Billion by 2026 at 27.1% CAGR: Says AMR

Portland, OR, Feb. 20, 2020 (GLOBE NEWSWIRE) — According to the report, the global location-based services market was estimated at $23.74 billion in 2018, and is expected to reach $157.34 billion by 2026, growing at a CAGR of 27.1% from 2019 to 2026. The report offers a detailed analysis of the top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, top investment pockets, and changing market trends.

Expanded scope of applications, rise in demand for location-based services, increase in demand for smartphones, and rapid spread of business analytics solutions fuel the growth of the global location-based services market. On the other hand, high cost of real-time based LBS and several operational challenges restrain the growth to some extent. Nevertheless, high-end technological advancements and newer applications requiring LBS solutions are expected to pave the way for a number of opportunities in the near future.

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The hardware segment to lead the trail by 2026

Based on component, the hardware segment accounted for more than two-fifths of the total market share in 2018 and is expected to rule the roost throughout the forecast period. At the same time, the services segment would cite the fastest CAGR of 29.0% during 2019–2026.

The assisted GPS segment to retain its lion’s share till 2026

Based on technology, the assisted GPS segment garnered the highest share in 2018, holding nearly one-fifth of the total market. The same segment would also register the fastest CAGR of 28.4% till 2026.

North America to maintain its dominance during 2019–2026

Based on geography, North America contributed to more than two-fifths of the total market revenue in 2018 and would retain its dominance in terms of revenue. The Asia-Pacific region, on the other hand, would showcase the fastest CAGR of 30.8% by the end of 2026.

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Frontrunners in the industry

The key players analyzed in the market report include,

  • Apple Inc.
  • Qualcomm Inc.
  • AT&T Inc.
  • Bharti Airtel LTD.
  • Oracle Corporation
  • Google Inc.
  • HERE
  • Alcatel-Lucent SA
  • International Business Machines Corporation
  • Cisco Systems Inc.
  • Microsoft Corporation.

They have adhered to different strategies including expansions, mergers & acquisitions, partnerships, joint ventures, collaborations, and others to heighten their stand in the market.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.


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