Oct 13, 2020 6:10 AM ET
iCrowd Newswire – Oct 13, 2020
U S Location-based Services Market by Component (Solution, Service and Connectivity Technology), Application (Location-based Advertising, Business Intelligence & Analytics, Fleet Management, Mapping & Navigation, Local Search & Information, Social Networking & Entertainment, Proximity Marketing, Asset Tracking, and Others), and Industry Vertical (Transportation & Logistics, Manufacturing, Government & Public Utilities, Retail, Healthcare & Life Sciences, Media & Entertainment, IT & Telecom, BFSI, Hospitality, and Others): Opportunity Analysis and Industry Forecast, 2020-2027, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider U.S. Location-based Services market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, U.S. Location-based Services market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region
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Key Segments Studied in the U.S. Location-based Services Market
The U.S. location-based services market size was valued at $6.61 billion in 2019, and is projected to reach $41.96 billion by 2027, growing at a CAGR of 26.3% from 2020 to 2027.
Advent of digitalization boosts the need for location-based services (LBS), owing to its capability to offer customized marketing strategy solutions, which, in turn, creates new revenue growth opportunities for players opting for these solutions. Location-based services proliferate the demand for analytical solutions, due to their ability to provide and analyze real-time geo-data. For instance, retailers can strategize their marketing campaigns on the basis of customer locations for the nearest store or location-based offers. This is likely to help retailers with new and advanced revenue growth opportunities, which, in turn, is expected to boost the location-based services market during the forecast period.
By component, the hardware segment was the highest contributor in the location-based services market in year 2019, due to the advent of digitalization among various industry verticals and high penetration of smartphones among individuals across the country. Rise in penetration of smartphones and increase in usage of 3G & 4G networks drive the U.S. market growth. In addition, key players have focused on developing low-priced GPS and other components to cater to the increasing demand of consumers, which significantly contributes toward the growth of the U.S. market.
Moreover, surge in adoption of mobile commerce and social media activities is expected to supplement the adoption of hardware components in the LBS market. However, services segment is expected to grow with the highest CAGR during the forecast period, due to increase in demand for services-as-a-solution in digital transformation activities among industries. Thus, major players operating in the U.S. location-based services market are investing in innovative location-based analytical solutions to gain competitive advantages.
The outbreak of COVID-19 is anticipated to have a positive impact on the growth of location-based services market. With the emergence COVID-19, the use of location-based services is likely to enable governments to address the impact of social distancing and facilitate tracking patterns of movements of individuals and traffic patterns. Innovations and advances in location-based services post COVID-19 outbreak with features such as real-time tracking, location-based marketing, and geo-tagging, have further supported the market growth.
The report focuses on the growth prospects, restraints, and location-based services market analysis. The study provides Porter’s five forces analysis of the location-based services industry to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers.
The U.S. location-based services market is segmented into component, technology, application, and industry vertical. By component, the market is categorized into solution, services and connectivity technology. The applications covered in the study include location-based advertising, business intelligence & analytics, fleet management, mapping and navigation, local search & information, social networking & entertainment, proximity marketing, asset tracking, and others. Depending on industry vertical, the LBS industry is segregated into transportation & logistics, manufacturing, government & public utilities, retail, healthcare & life sciences, media & entertainment, IT & telecom, BFSI, hospitality, and others.
Key players of the location-based services market analyzed in the research include Alcatel-Lucent SA, Apple, Inc., AT&T Inc., Cisco Systems, Inc., Google Inc., HERE, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, and Qualcomm Inc. and others. They have adopted various strategies including new product launches, collaborations, partnerships, mergers & acquisitions, joint ventures, agreements, and others to gain a stronghold and international presence across U.S.
TOP IMPACTING FACTORS
Rise in demand for location-based services owing to its diversified scope of applications is a major factor expected to drive the growth of the market. Surge in demand for location-based services among various industry verticals for applications such as location-based advertising, business intelligence & analytics, and fleet management is further expected to offer remunerative opportunities for the expansion of the global LBS industry during the forecast period. The U.S. location based services market trends are as follows:
New product launches to flourish the market
Rise in demand for location-based services owing to its diversified scope of applications is a major factor expected to drive the growth of the market. Surge in demand for location-based services among various industry verticals for applications such as location-based advertising, business intelligence & analytics, and fleet management is further expected to offer remunerative opportunities for the expansion of the U.S. location based industry during the forecast period.
Diversified scope of applications
The growth of the LBS market is driven by the diversified scope of applications across various sectors. For instance, LBS is used for navigation, traffic management, asset tracking, and proximity-based marketing. In addition, it finds its application in fraud prevention, mobile workforce management, and context advertising. Energy & resource management agencies use LBS for evaluation of land cover, vegetation, water resource management, and geology mapping. The defense & military sector utilize LBS for surveillance, battlefront analysis, and strategy formulation. In civil engineering, LBS solution is used for resource mapping, evaluation of geological information, and estimation of suitable location for building, planning, & construction activities. In addition, transportation, media & entertainment, insurance, and tourism sectors offer a wide scope of applications for LBS.
Increase in demand for location-based services
Location-based services are used to provide information about user’s location through internet by using real-time geo-data. The advent of smart devices, wireless technologies, cloud computing, Internet of Things (IoT), and smartphone applications has led to aggrandized traffic on websites. This has fueled the adoption of LBS to improve services and enhance user experience depending upon the end user’s location, which, in turn, is expected drive the market growth. Therefore, LBS has gained importance across various sectors, including government authorities, defense & intelligence, transportation, telecommunication, manufacturing, e-retailing, energy, and natural resource management. Furthermore, increase in penetration of connected devices and machine-to-machine communication systems has notably boosted the need for real-time location-based data sets. This has significantly driven the demand for Internet of Things (IoT) devices across diverse sectors, which is helping companies to develop smart geo-mapping solutions. Thus, aforementioned are key factors are expected to fuel the growth of the U.S. market growth during the forecast period.
Key benefits of the report:
This study presents the analytical depiction of the U.S. location-based services industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the U.S. location-based services market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the U.S. location-based services market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed U.S. location-based services market analysis based on competitive intensity and how the competition will take shape in coming years.
|Professional Key players:
Alcatel-Lucent SA, Apple, Inc., AT&T Inc., Cisco Systems, Inc., Google Inc., HERE, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, and Qualcomm Inc. and others.
|U.S. Location-based Services Market
By Component (Solution, Service and Connectivity Technology),
By Application (Location-based Advertising, Business Intelligence & Analytics, Fleet Management, Mapping & Navigation, Local Search & Information, Social Networking & Entertainment, Proximity Marketing, Asset Tracking, and Others),
By Industry Vertical (Transportation & Logistics, Manufacturing, Government & Public Utilities, Retail, Healthcare & Life Sciences, Media & Entertainment, IT & Telecom, BFSI, Hospitality, and Others): Opportunity Analysis and Industry Forecast, 2020-2027
A combination of factors, including COVID-19 containment situation, end-use market recovery & Recovery Timeline of 2020/ 2021
|covid-19 scenario||Market Behavior/ Level of Risk and Opportunity||End Industry Behavior/ Opportunity Assessment||Expected Industry Recovery Timeline||Business Impact Horizon|
|Opening of Economy by Q3 2020||xx||xx||xx||xx|
|Recovery – Opening of Economy extended till Q4 2020 / Q1 2021||xx||xx||xx||xx|
Under COVID-19 Outbreak Impact Analysis:
We analyzed industry trends in the context of COVID-19. We analyzed the impact of COVID-19 on the product industry chain based on the upstream and downstream markets. We analyze the impact of COVID-19 on various regions and major countries.
The impact of COVID-19 on the future development of the industry is pointed out.
Study Explore :
- Market Behavior/ Level of Risk and Opportunity
- End Industry Behavior/ Opportunity Assessment
- Expected Industry Recovery Timeline
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In-Depth Qualitative COVID 19 Outbreak Impact Analysis Include Identification And Investigation Of The Following Aspects: Market Structure, Growth Drivers, Restraints and Challenges, Emerging Product Trends & Market Opportunities, Porter’s Fiver Forces. The report also inspects the financial standing of the leading companies, which includes gross profit, revenue generation, sales volume, sales revenue, manufacturing cost, individual growth rate, and other financial ratios. The report basically gives information about the Market trends, growth factors, limitations, opportunities, challenges, future forecasts, and details about all the key market players.
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Key questions answered: Study Explore COVID 19 Outbreak Impact Analysis
The study objectives of this report are:
- To study and analyze the market size (value & volume) by company, key regions/countries, products and application, history data from 2014 to 2018, and forecast to 2025.
- To understand the structure of market by identifying its various subsegments.
- To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).
- Focuses on the key manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.
- To analyze the growth trends, future prospects, and their contribution to the total market.
- To project the value and volume of submarkets, with respect to key regions (along with their respective key countries).
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
- To strategically profile the key players and comprehensively analyze their growth strategies.
The Study Explore COVID 19 Outbreak Impact Analysis
- What should be entry strategies, countermeasures to economic impact, and marketing channels?
- What are market dynamics?
- What are challenges and opportunities?
- What is economic impact on market?
- What is current market status? What’s market competition in this industry, both company, and country wise? What’s market analysis by taking applications and types in consideration?
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Key Points Covered in U.S. Location-based Services Market Report:
Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of U.S. Location-based Services market, Applications, Market Segment by Regions North America, Europe or Asia;
Chapter 2, objective of the study.
Chapter 3, to display Research methodology and techniques.
Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;
Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;
Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis
Chapter 10, focus on identifying the key industry influencer’s, overview of decision framework accumulated through Industry experts and strategic decision makers;
Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behavior, Marketing Channels and demand & supply.
Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)
Chapter 15, deals with U.S. Location-based Services Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.
……..and view more in complete table of Contents
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