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The location-based services industry is being driven by an increase in smart phones across the globe, as the product uses location-aware technologies. As the location-based services are able to provide information related to specific location, the market is expected to witness several lucrative opportunities in the forecast period. The demand for wearable devices is expected to increase in recent years, which, in turn, is expected to boost the market growth of location-based services . Further, the escalation of location-based apps among consumers are predicted to drive the market in the forecast period. Additionally, the advancements in technology, such as well-developed IT infrastructure combined with IOT has aided the growth of location-based services industry.
The increasing demand for location-based services is encouraging the industry key players, like Apple Inc. (NASDAQ: AAPL) and Microsoft (NASDAQ: MSFT) to make significant investments in the industry. In November 2017, Microsoft (NASDAQ: MSFT) launched Azure Location Based Services for geospatial needs across industries. It offers various options for customization and opportunities beyond connected cars to power smart cities, IoT and industrial applications in sectors ranging from manufacturing to retail, to automotive. Various innovations in the industry is expected to foster market growth over the forecast period.
Market Analysis by Component, Location Type, Service Type, Application, End Use, and Region:
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ALE International, Navizon, Inc., Apple Inc., Oracle Corporation, IBM Corporation, Cisco Systems, Inc, Microsoft Corporation, among others, are the key players in the global location-based services market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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