Location As A Service Market Insights 2023: Business Opportunity, Future Scope & Rising Demand By Top Vendors and Covid-19 Impact Analysis

The detailed report published by Market Research Future (MRFR) projects that the global location as a service market is marked to exhibit remarkable expansion at a CAGR of 32% during the forecast period from 2017 to 2023. the global location as a service market is also marked to reach the market valuation of USD 99 Bn by the end of the assessment period. Increased utilization of smartphones and smart devices that are equipped with global positioning systems, rapid expansion of consumer electronics industry, high demand automobiles that are embedded with navigation system, increased reliance of mobility-on-demand applications on global positioning system as their operational platform, and increased affordability of smartphones are majorly propelling the growth of the global location as a service market during the assessment period.

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Global Location As A Service Market: Segmental Analysis

The global location as a service market has been segmented on the basis of component, connectivity type, technology, deployment, and end users. Based on component, the global location as a service market has been segmented into hardware, software, and others. Based on connectivity type, the global location as a service market has been segmented into wired, wireless and others. Based on technology, the global location as a service market has been segmented into GPS, GPRS, RFID, GIS, and others. Based on deployment, the global location as a service market has been segmented into on cloud, on-premises, and others. Based on end users, the global location as a service market has been segmented into consumer electronics, government, BFSI, retail, transportation, automotive, healthcare, and others.

Global Location As A Service Market: Regional Analysis

Geographically, the global location as a service market has been segmented into four major regions such as North America, Asia Pacific, Europe, and the rest of the world. The North America region commands the maximum share of the global location as a service market during the review period. The factors such as increased utilization of smartphones and smart devices that are equipped with global positioning systems, rapid expansion of consumer electronics industry, high demand automobiles that are embedded with navigation system, increased reliance of mobility-on-demand applications on global positioning system as their operational platform, and increased affordability of smartphones are majorly propelling the growth of the global location as a service market in the North America region. The Asia Pacific region is projecting significant growth in the global location as a service market owing to the increased penetration of smartphones in the developing and underdeveloped areas, high demand for mobile applications that rely on global positioning system for their optimum functioning, and increased awareness regarding navigation systems among the population of this region.

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Global Location As A Service Market: Key Players

The key market players profiled by Market Research Future (MRFR) that are operating in the global location as a service market are Cisco Systems (U.S.), Google Inc. (U.S.), Ericsson (Sweden.), IBM Corp. (U.S.), Qualcomm (U.S.), Location Labs (U.S), LocationSmart (U.S), Microsoft Corp. (U.S.), Oracle Corp. (U.S.), Esri (U.S), Accelerite (U.S) and others. The players in the global location as a service market are introducing innovative and technologically advanced solutions to provide optimum services to the consumers in order to expand their businesses in the global location as a service market. Strategically planned mergers and acquisitions along with collaborations in multiple projects are aiding these players in sustaining the competition in the global location as a service market during the assessment period.

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