Location-based services use real-time terrain data from mobile devices or smartphones to provide information, entertainment, or security. Location-based services are used in a variety of conditions, such as health, indoor objects search, entertainment, work and personal life. Location Based Services (LBS) uses smartphone GPS technology to track the location of individuals. You can also access social networking sites through LBS and reach advertisers based on location-based apps.
Increased mobile computing devices, increased demand for personal and enterprise search services, and the integration of location-based search and social networking websites are key drivers of the growth of the global location-based services market. In addition, the popularization of social networking, the evolution of networks such as 4G and 5G, and the evolution of the Internet of Things (IOT) are some of the factors that are expected to drive the growth of the global location-based services market during the forecast period.
Growing concerns about privacy are expected to curb growth in the global location-based services market. In addition, the increase in cyber attacks against government agencies, the high cost of geolocation technology, and the limitations of user perception of LBS benefits are some other factors that hinder the growth of the global location-based services market during the forecast period.
The global location-based services market is categorized by location type, technology, services, applications, components and geography.
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