NEW YORK, Oct. 19, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The Global Location-Based Services (LBS) Market  size is estimated to grow by USD 296.3 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  32.77%  during the forecast period. Rise in demand for personal and enterprise navigation services is driving market growth, with a trend towards growing popularity of location-based gaming. However, privacy and security issues in location-based services  poses a challenge – Key market players include AiRISTA Flow Inc., Alphabet Inc., Apple Inc., AT and T Inc., Bayerische Motoren Werke AG, Cisco Systems Inc., Emanate Wireless, Esri Global Inc., Foursquare Labs Inc., General Electric Co., Halma Plc, Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., Oracle Corp., Qualcomm Inc., Siemens AG, Telefonaktiebolaget LM Ericsson, Zebra Technologies Corp., and Ziff Davis Inc..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Key Market Trends Fueling Growth

The location-based gaming industry is experiencing significant growth due to the widespread availability of high-speed Internet and smartphones equipped with positioning technologies like GPS. This has given rise to interactive map-based mobile games such as Ingress, Pokemon Go, and Geocaching, where players’ physical locations determine their in-game progress. The gaming industry’s shift towards an as-a-service model, fueled by technologies such as cloud computing, 5G, and virtual reality (VR), has led to the emergence of new gaming models like online multiplayer and free-roam games. Game developers are leveraging location analytics tools to monitor player movements and create games based on real-world locations. For instance, Bublar Group AB’s Hello Kitty AR: Kawaii World and Ludare Games Group Inc.’s Men in Black: Global Invasion are location-based AR games that merge digital content with real-world locations. The increasing popularity of these games is expected to boost the adoption of location-based services among game developers, driving the growth of the global location-based services market. 

Location-based services (LBS) are on the rise, with mobile positioning at the forefront. Satellite-based GPS, such as Global Positioning System (GPS), leads the way, but hybrid technologies like E-OTD, OTDOA, Wireless-assisted GNSS, A-GNSS, and 5G infrastructure are gaining ground. LBS trends include smart city projects, 3D mapping applications, e-commerce, mobile apps, and real-time location tracking using Bluetooth beacons. Navigation and tracking, transportation and logistics, healthcare, and fleet management are major industries benefiting from LBS. Indoor location services, real-time data, and business intelligence are also key areas of growth. Hardware and software innovations, such as artificial intelligence, augmented reality (AR), and virtual reality (VR), are transforming LBS, with applications in disaster information systems, autonomous vehicles, and social media. Geolocation data, IoT, and connected devices are integral to the LBS ecosystem. Food delivery services and local search are other emerging sectors. Overall, LBS is a dynamic and evolving market, offering numerous opportunities for businesses. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

Location-Based Services (LBS) market involves the exchange of personal information between end-users and various players in the value chain. This data, including location, visits, people met, and events attended, can be obtained without consent and misused. Network providers manage and own the databases, granting them access to users’ location-based information. Regulations such as the EU’s General Data Protection Regulation (GDPR) require companies to handle personal data responsibly, ensuring data privacy and legal use. Compliance with regional and global regulations is essential for collecting and using location-based data. Companies must take responsibility for controlling the distribution and use of customer location information. Privacy and security concerns may hinder the growth of the global LBS market.Location-Based Services (LBS) market is experiencing significant growth due to the increasing use of connected devices, GPS, and IoT technology. Autonomous vehicles and disaster information systems are new applications driving demand. Real-time data from positioning technologies like GPS and 5G infrastructure enable navigation services, indoor location services, and transportation and logistics. In healthcare, LBS is used for patient tracking and emergency response. Businesses use LBS for fleet management, local search, and real-time data analysis. Hardware and software solutions include AR and VR for navigation and 3D mapping. Food delivery services and social media also leverage LBS. Challenges include ensuring accuracy and security of geolocation data, and integrating with navigation and tracking systems. Overall, LBS offers valuable opportunities for businesses in various industries.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This location-based services (lbs) market report extensively covers market segmentation by

Component 1.1 Hardware1.2 Software1.3 ServicesType 2.1 Outdoor2.2 IndoorGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Hardware-  The Location-Based Services (LBS) market continues to grow, offering businesses valuable opportunities to connect with consumers based on their geographic location. LBS enables targeted advertising, improved customer experiences, and efficient logistics. Companies like Google Maps, Uber, and Starbucks successfully leverage LBS to enhance their offerings and gain a competitive edge. The market is expected to expand further due to increasing smartphone usage and the integration of IoT devices.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022)

Research Analysis

Location-based services (LBS) refer to technologies and applications that use geographic location information to enhance and personalize user experiences. Mobile positioning, such as Satellite-based GPS, E-OTD (Enhanced Observed Time Difference), OTDOA (Observed Time Difference Of Arrival), Wireless-assisted GNSS (Global Navigation Satellite System), A-GNSS (Assisted Global Navigation Satellite System), and hybrid technologies, enable real-time data acquisition. LBS applications include smart city projects, 3D mapping, geolocation data, and navigation services. Connected devices like smartphones, IoT (Internet of Things), and wearables leverage LBS for location-based services, social media check-ins, and augmented reality (AR) and virtual reality (VR) experiences. Geographic location data is essential for these applications, providing context and enhancing user engagement. Positioning technologies continue to evolve, offering more accurate and efficient solutions for LBS applications.

Market Research Overview

Location-based services (LBS) refer to technologies and applications that use mobile positioning and real-time data to provide customized information and services based on a user’s location. These services can be delivered through satellite-based GPS, such as Global Positioning System (GPS), or through hybrid technologies like Enhanced Observed Time Difference (E-OTD), Time Difference of Arrival (TDOA), Wireless-assisted Global Navigation Satellite Systems (GNSS), and Assisted-Global Navigation Satellite Systems (A-GNSS). LBS are used in various industries, including smart city projects, transportation and logistics, healthcare, and e-commerce, among others. They enable real-time location tracking, navigation and tracking, indoor location services, and geolocation data for connected devices, autonomous vehicles, disaster information systems, and more. LBS are also integrated with IoT technology, social media, and mobile apps, and are used for 3D mapping, augmented reality (AR), and virtual reality (VR) applications. With the advent of 5G infrastructure, LBS are expected to become even more advanced and integrated into our daily lives.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentHardwareSoftwareServicesTypeOutdoorIndoorGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/location-based-services-lbs-market-to-grow-by-usd-296-3-billion-from-2024-2028–driven-by-demand-for-personal-and-enterprise-navigation-with-ai-powering-market-evolution—technavio-302280323.html

SOURCE Technavio

The Allen Tech Center at One Watters Creek is thrilled to announce the installation of the largest high-speed fiber connection in Allen, Texas. This multi-gigabit circuit is an advanced infrastructure upgrade by NT Fiber of Dallas. The upgrade positions the Allen Tech Center as a premier destination for technology companies, Esports organizations and gaming enterprises, offering unparalleled speed and mission-critical reliability for today’s most data-intensive operations.

ALLEN, Texas, Oct. 19, 2024 /PRNewswire-PRWeb/ — The Allen Tech Center at One Watters Creek is thrilled to announce the installation of the largest high-speed fiber connection in Allen, Texas. This multi-gigabit circuit is an advanced infrastructure upgrade by NT Fiber of Dallas. The upgrade positions the Allen Tech Center as a premier destination for technology companies, Esports organizations and gaming enterprises, offering unparalleled speed and mission-critical reliability for today’s most data-intensive operations.

In addition to the groundbreaking fiber connection, the Allen Tech Center is offering new tenants a full year of free multi-gigabit internet access, ensuring that businesses can hit the ground running without worrying about connectivity costs. Whether you’re launching a startup, expanding your tech footprint, or seeking an ideal location for your high-tech, Esports or gaming operations, the Allen Tech Center is now equipped to provide the highest-level connectivity to support your business needs.

Key Highlights:

100-400 Gigabit Fiber Connection – The largest in Allen, Texas, offering lightning-fast data speeds and unmatched capacity for even the most demanding applications featuring zero latency and zero jitter.Free Multi-Gigabit Internet – All new tenants will receive “All you can Eat,” multi-gigabit internet for one full year to power operations without data limits.Ideal for Tech Companies, Esports, and Gaming – With high bandwidth and ultra-low latency, the Tech Center is perfectly suited to accommodate the needs of companies in emerging tech fields, gaming, and Esports.Strategic Location – Located at One Watters Creek, Allen, Texas, offering a prime position for connectivity and collaboration in a vibrant, tech-forward community.

“The Allen Tech Center” at One Waters Creek is now the heartbeat of innovation in Allen,” said Sayres Heady, Developer at Allen Tech Center. “With this massive bandwidth upgrade from NT Fiber, we’re not just providing space for businesses, we’re delivering the tools they need to thrive. Whether you’re an Esports team gearing up for the next big tournament, or a game builder coding your next game, or a tech startup looking to scale, Allen Tech Center will enable you to stay ahead in today’s digital world like no other place in Texas.”

“NT Fiber continues to upgrade, says Nick Costas. We continue to expand and dominate in the Dallas Metroplex. Heady Investments recognized the need for Allen, requesting this huge-capacity, fiber upgrade. We hope those high-paying tech jobs continue to pour in for Allen and Collin County, Texas. This internet pipe will help.”

The introduction of this powerful 100/400 Gigabit fiber circuit is a game-changer for Allen, positioning the City of Allen as a leading hub for technology-driven companies. With a focus on providing high-performance internet solutions for fast-growing industries like Esports and gaming, the Allen Tech Center offers a unique opportunity for businesses to establish themselves in a forward-thinking, cutting-edge environment.

About the Allen Tech Center at One Watters Creek

The Allen Tech Center is a modern, state-of-the-art commercial hub designed with tech companies in mind. Located in the heart of Allen, Texas, the Tech Center offers flexible office spaces, world-class amenities, and now, the fastest fiber internet in the area, making it an ideal choice for technology innovators, gaming companies, and Esports organizations looking to collaborate, grow, and lead.

About NT Fiber

NT Fiber (formerly North Texas Fiber) is the premier provider of modern ultra-high-speed networks in Texas. With state-of-the-art infrastructure, superior routing capabilities, “private network” security, and virtually-zero latency, NT Fiber is the go-to choice for business subscribers seeking 1G-100G connectivity. Since 2016, NT Fiber continues to deliver reliable and fastest internet services to a diverse range of customers including Fortune 100/500 companies.

For more information, please visit the NT Fiber website at https://nt-fiber.com

Main | 469-215-5800

Cell | 214.701-5662

603 Munger Avenue, Suite 100

Dallas, TX 752002

info@nt-fiber.com

For more information or to schedule a tour, please contact:

Ruth Griggs

Principal

Thirty-Four Commercial

Main | 214.974.4334

Cell | 214.336.5869

4514 Travis Street, Suite 314

Dallas, TX 75205

Ruth.Griggs@thirty-four.com

Media Contact

Donna Johnson, North Texas Fiber, Inc., 1 4692155800, donna@nt-fiber.com, https://nt-fiber.com

LinkedIn

View original content:https://www.prweb.com/releases/heady-investments-allen-tech-center-receives-largest-fiber-circuit-in-allen-tx-302280056.html

SOURCE North Texas Fiber, Inc.

In collaboration with NIBSS, Nigerian banks, and IMTOs, the CBN seeks to deepen engagement with the Nigerian diaspora community

HOUSTON, Oct. 19, 2024 /PRNewswire/ — The Central Bank of Nigeria (CBN), in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), major Nigerian banking institutions, and International Money Transfer Operators (IMTOs), will participate in a pivotal forum titled Optimizing Remittances to Nigeria: A Vision for the Future” in Houston, Texas, on October 20, 2024. This high-level event brings together critical stakeholders in the remittance ecosystem to engage with the Nigerian diaspora community on opportunities to enhance remittance flows and strengthen Nigeria’s financial sector.

As part of the CBN’s broader engagements alongside the IMF & World Bank Annual Meetings, this forum highlights the Bank’s commitment to building stronger financial ties with Nigerians abroad. It is part of a series of engagements the Bank will participate in over the coming months. In an era of bold reforms, the CBN is prioritizing strategies to leverage diaspora remittances as a catalyst for inclusive economic growth, financial inclusion, and overall national development.

Houston, a city renowned for having the largest Nigerian diaspora population in the United States, plays a significant role in shaping remittance inflows to Nigeria. The city’s vibrant Nigerian community has contributed immensely to both the local economy in Houston and to Nigeria’s economic stability through remittances. As a major contributor to Nigeria’s annual remittance inflows, estimated by the World Bank at $20.5 billion over the last decade, the Houston diaspora community serves as a critical partner in Nigeria’s economic growth.

The event will feature contributions from senior bank executives, policy discussions on optimizing remittance channels, and practical approaches for further leveraging these flows to support the development of Nigeria. Networking opportunities with key leaders from Nigeria’s financial industry will also be available.

“This forum represents a unique opportunity to recognize and enhance the contributions of the Nigerian diaspora, particularly the community in Houston, who continue to play an essential role in shaping our country’s economic future,” said CBN Governor Olayemi Cardoso. “Through strategic partnerships with key stakeholders such as NIBSS, our banking institutions, and IMTOs, we aim to create a future where remittance flows can be more impactful for both Nigeria and its diaspora.”

Partnering institutions include NIBSS, Providus Bank, Fidelity Bank, First City Monument Bank, First Bank of Nigeria, Zenith Bank, and United Bank for Africa.

For further information or participation inquiries, please contact Linda Anukwuem at linda@aixfirm.com.

www.aixfirm.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/optimizing-remittance-flows-central-bank-of-nigeria-to-participate-in-high-level-forum-in-houston-texas-302281017.html

SOURCE Central Bank of Nigeria