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Rising Usage of Smartphones to Propel Growth in Location-Based Services (LBS) and Real Time Location Systems (RTLS) Market

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Published on : Nov 15, 2019

Location-based services and real-time location systems are an interconnected innovations which are getting popular rapidly due to the rising utilization of cell phones, better precision with which an individual using a mobile phone can be located, and the rising business importance of the geo-information extracted by using of smartphones. Real-time location systems utilize the computerized mapping feature of current mobile phones to provide exact location, whereas location-based facilities offers a platform to clients to make use of the location information for multiple purposes. 

Healthcare Industry to Be Important Consumer in Market

The healthcare industry is a noteworthy customer in the global location-based services and real-time location systems market and is probably to lead demand in forthcoming years. Medical clinics have utilized location-based services as of late, while the general hospitals has enormously profited by the accessibility of real time location services for disease surveillance, field data gathering, and spatial statistics. The rising usage of smart medical protocols in the urban areas is probably going to help the global location-based services and real-time location systems market, supported by the rising utilization of e-medicines and other advanced features made for the easy transition of healthcare sector into digitization. 

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Developing regions, for example, Asia Pacific are probably going to be important for the growth in the global location-based services and real-time location systems market because of the increasing utilization of mobile phones in the nations, for example, China and India. The rising utilization of digital solutions in urban administration and industrial segment in these nations is probably going to stimulate demand for location-based services and real-time location systems for improving distribution network. 

Popularity of BI to Augur Demand in Future

The market for the location-based services (LBS) and real time location systems (RTLS) has grown in past years attributed to increasing smartphone users, higher popularity of the business intelligence, along with rising competition in overall market.

By producing enormous measure of information – life science and healthcare sectors are the major supporters of the application and hence growth in the location-based services (LBS) and real time location systems (RTLS) market. Various customer-driven organization, for example, emergency clinics use location tracker to provide their facilities. Geographic Information System (GIS) advancement provides different solutions, for example, effectiveness in reporting and field information gathering, and through spatial insights and internet mapping, it backs disease analysis and surveillance. Advanced RTLS and LBS innovations give security from unavoidable dangers, thusly, these solutions have turned out to be important and have thus fueled the demand from different industries. 

Rapidly developing economies of Asia Pacific, India and China are positively affected by the development in the entire location-based services (LBS) and real time location systems (RTLS) market. Governments' work to systematize LBS and RTLS techniques and surging demand regarding improved production network activities are among the key aspects boosting the market. Furthermore, devilment of tech hubs, rising number of working people, and rich nations, for example, South Korea, Hong Kong, and Singapore have surged the demand in global market since past few years. 

The report provides the major players competing in the global location-based services (LBS) and real time location systems (RTLS) market. Moreover, it even offers bits of knowledge into the opportunities and risks that the organizations are relied upon to experience in the upcoming years. Some of the key players in the global market are Google Inc., Cisco systems, IBM Corp., Oracle Corp., Teldio, Microsoft Corp., Qualcomm, Zebra Technologies, ESRI, and Ericsson to name a few.