DUBLIN--(BUSINESS WIRE)--Aug 9, 2018--The "Location-Based Services (LBS) and Real-Time Location Systems (RTLS) Market by Location Type, Software, Hardware, Service, Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global LBS and RTLS market size is expected to grow from USD 22.18 billion in 2018 to USD 68.85 billion by 2023, at a CAGR of 25.4% during the forecast period.

The major factors that are expected to drive the growth of the LBS and RTLS market include the growing demand for mobile and web apps, increasing use of smartphones for advertisement, and implementation of digital transformation strategy. In addition, increasing investment in analytics technology is one of the biggest and most important factors resulting in the market growth. However, lack of skilled professionals and non-uniformity of data hamper the market growth.

LBS and RTLS play a vital role in managing retail apps to offer an enhanced user experience. LBS and RTLS in retail improve the traditional way of understanding customer buying behavior and offer a digital platform for customers and sellers to interact and build trustworthy relationship. For instance, social networking platforms such as Facebook, Instagram, and WhatsApp have changed the shopping experience with the help of LBS and RTLS technologies, which make it easier to understand user interest and offer them the right product, advertisement, or campaign that influences the customer and improves the whole buying-selling experience.

The high market share of the North American region is due to the presence of a large number of LBS vendors in the US region. The region has also witnessed the proliferation of startups in LBS and RTLS market. Out of 340 startups analyzed, 79% startups are from the North American region. Furthermore, due to robust development in infrastructures in terms of smart cities, smart buildings, and smart transportation in the country, the US market for LBS and RTLS is expected to dominate the overall North American market.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Global RTLS Market, By Offering

8 Global RTLS Market, By Technology

9 RTLS Market, By Application/Use Case

10 Global RTLS Market, By Vertical

11 Geographic Analysis

12 Competitive Landscape

13 Company Profiles

Airista Alien Technology Aruba Networks (Hp Enterprise) Awarepoint Centrak Cerner Corp. Cisco Decawave Ge Healthcare Identec Group Impinj Leantegra Litum Technologies (Litum IoT & Sanitag) Mojix Openrtls Redpine Signals Savi Technology Sonitor Technologies Stanley Healthcare Statsports Teletracking Technologies Tracktio Ubisense Group Visible Assets Zebra Technologies

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Related Topics:Location Based Services,Global Positioning Systems Software

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INDUSTRY KEYWORD: TECHNOLOGY SOFTWARE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 08/09/2018 04:51 AM/DISC: 08/09/2018 04:51 AM

http://www.businesswire.com/news/home/20180809005261/en