Mobile Location-Based Services (Mobile LBS) Market To See Massive Growth By 2030

The "Mobile Location-Based Services (Mobile LBS) Market" Report offers a thorough analysis of prominent competitors and their market shares, providing valuable insights into the competitive landscape. Alongside important metrics like sales, revenue, average selling price, and gross margin, the report explores significant growth prospects for industry leaders. Serving as an all-inclusive resource, this research provides a comprehensive overview of the market and its potential for expansion, making it an essential tool for investors and business professionals alike.

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Mobile location-based services (mobile LBS) have become a crucial service enabler in smartphones, providing users with navigation and location-based queries. Recent advancements in positioning technologies, as well as improved data transmission through edge computing, cloud computing, and 5G, are expected to drive the growth of the mobile LBS market, which is projected to reach approximately USD 86.0 Bn by 2023, expanding at a CAGR of 24.6% during the 2018-2023 period.

One of the major applications of mobile LBS is location-based advertising, which has been growing steadily over the last decade. With the development and increasing use of beacons, geo-fencing, and geo-tagging for digital and proximity marketing, this segment is anticipated to experience the highest CAGR (27.2%). Mapping and navigation is the most widely used service in mobile LBS, with this segment holding the largest market share (28.4%) in 2018, followed by social networking and entertainment, and local search and information segments. The business information and analytics segment is expected to grow at a CAGR of 26.2%, primarily due to increased use of data analytics and technological advancements in the retail, BFSI, and transportation and logistics segments.

Industries such as retail, healthcare, transportation, travel and tourism, and BFSI are utilizing the power of mobile LBS to enhance digital experiences among customers. The retail industry dominated the market in 2018 with a market share of 33%, owing to extensive use of mobile LBS in digital marketing and proximity-based advertising. The transportation segment, with a market share of 26%, has also been widely using mobile LBS for navigation, way-finding, and asset tracking. The travel and tourism industry is expected to witness the highest growth rate (CAGR 27.3%), as a result of the increasing popularity of LBS-enhanced travel apps among regular travelers. The healthcare segment is also expected to witness significant growth in Europe and the Asia-Pacific regions over the next few years.

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Currently, the physical location segment enjoys the highest market share globally (58%) because mobile LBS is primarily based on the real-time physical location of subjects. However, with the development of technology and marketing strategies, the adoption of proximity LBS through beacons, Wi-Fi, and Bluetooth is increasingly becoming popular in developed countries like North America and Europe, and the Asia-Pacific region. As a result, the proximity to locations of interest segment is anticipated to expand at a CAGR of 26.3% during the forecast period.

North America was the market leader in mobile LBS with a share of approximately 44% in 2018, owing to increased smartphone penetration, advanced data transmission techniques, and new positioning technology. Asia-Pacific is expected to witness the highest CAGR (27.6%) during the forecast period due to the increased use of mobile LBS and high technology adoption rates in this region. However, Europe may experience a setback due to strict government policies regarding privacy.

Several companies are operating in the mobile LBS market, including Google Inc., Near Corporation, Groundtruth, Place IQ, Telenity, Foursquare, Uber, Groupon, Facebook, and Baidu Inc.

The report further discusses the market opportunity, CAGR growth rate, competition, new technology innovations, market player analysis, government guidelines, and export and import (EXIM) analysis for the following regions and/or countries: North America (U.S. & Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey.

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Scope of the Report:
The scope of this report encompasses a comprehensive analysis of the market growth expected to occur from 2023 to 2030. Through meticulous research, we have organized data pertaining to the evolving market structures that exert influence on industries, markets, technologies, and capabilities. Our report presents a thorough examination of relevant statistics, opportunities, challenges, drivers, restraints, limits, market size, share, and trends. By delivering valuable insights, we aim to provide a comprehensive understanding of the market landscape.

Here are the key highlights of the report:

• Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
• In-depth analysis of the competitive landscape, identifying key trends within the industry.
• Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER's five forces.
• Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
• Guidance provided for new market entrants, assisting them in navigating the industry landscape.
• Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.

Our sample report encompasses the following elements:

• Introduction, Overview, and In-depth Industry Analysis: A comprehensive analysis of the industry, providing an updated report introduction along with an in-depth examination of key aspects.
• Research Report of 100+ Pages: The report consists of more than 100 pages, incorporating the latest research findings and insights.
• Chapter-wise Guidance: We offer chapter-wise guidance upon request, allowing you to navigate the report and delve into specific areas of interest.
• Updated Regional Analysis with Graphical Representation: Our report includes an updated regional analysis, presented in a graphical format to illustrate the size, share, and emerging trends within each region.
• List of Tables and Figures: It features an updated list of tables and figures that support the information presented in the report.
• Top Market Players: The report includes a comprehensive analysis of the leading market players, highlighting their business strategies, sales volume, and revenue analysis.
• Facts and Factors Research Methodology: Our research methodology is based on a rigorous approach, ensuring the accuracy and reliability of the information presented in the report.

Our most recent research report showcases the thriving expansion of the global Mobile Location-Based Services (Mobile LBS) Market and offers in-depth insights into the projected market size, share, and revenue until 2030.

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