Location-based Services (LBS) and Real-Time Location Market Analysis
The LBS and RTLS Market size is projected to grow from USD 24.7 billion in 2023 to USD 60.4 billion by 2028, at a CAGR of 19.6% during the forecast period, according to a new report by MarketsandMarkets?. The widespread adoption of LBS and RTLS across various sectors, such as industrial manufacturing and consumer goods, is expected to foster the development of robust tracking and locating technologies. The increased utilization of LBS and RTLS is driven by the growing need for enhanced operational efficiency, optimized resource usage, and heightened productivity within companies, all aimed at securing a sustainable future.
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