Location-Based Services Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Location-based Services (LBS) Market
The location-based services (LBS) market size was valued at USD 26.22 billion in 2023 and the market is now projected to grow from USD 31.17 billion in 2024 to USD 129.71 billion by 2032, exhibiting a CAGR of 19.5 % during the forecast period of 2024-2032.
The COVID-19 pandemic spurred primary marketplace players to amplify provider portfolios and product abilities, catalyzing marketplace growth. Post-pandemic, the region-based totally services marketplace is poised for enlargement pushed through extended use of linked devices like cell phones and pills, coupled with smooth get right of entry to GPS. Moreover, the surge in utilizing vicinity-based totally technology for utility merchandising is expected to similarly boost marketplace proportion. Notably, ManTech Series 2021 pronounced over eighty% of advertisers acknowledging the ability of location facts in enhancing marketing campaign success, indicating a promising trajectory for the enterprise.
The proliferation of smartphones and the surge in area-based advertising are propelling the boom of vicinity-primarily based services. Leveraging place intelligence and analytics, corporations set up targeted advertising and marketing, contextual promotions, and tailor-made social media content material primarily based on person footfall styles. This technology empowers customers to proportion vicinity information via mobile apps, facilitating personalized recommendations for nearby facilities like eating places, department shops, or ATMs. With such extensive programs and a thriving region-primarily based advertising panorama, the market is poised for massive enlargement within the foreseeable future, driven with the aid of improved purchaser engagement and tailored experiences.
Comprehensive Analysis of Location-based Services (LBS) Market
The location-based services (LBS) market growth Is growing at an exponential fee due to its marketplace segmentation. Market amplify effectively and offers an in-depth evaluation which dominance supply and call for forecast that effect the enterprise. These segmentations are methodically segregated By Technology Analysis, By Application Analysis, By location type analysis, By end-user analysis. By Technology Analysis include GPS, Assisted GPS (A-GPS), Enhanced GPS (E-GPS), Enhanced Observed Time Difference (E-OTD), Wi-Fi, Cellular ID, and others. By Application Analysis encompass GIS and Mapping, Navigation and Tracking, Geo Marketing and Advertising, Social Networking and Entertainment, Fleet Management, and Others. By location type analysis include outdoor and indoor. By end-user analysis include transportation and logistics.
The North America region lead the location-based services (LBS) share by benefitting a market size of USD 9.42 billion in 2023 due to the increase in 5G infrastructure investments across the region.
The top game enthusiasts inside the market play a critical role inside the industry assuring marketplace increase and setting marketplace standards. These players include HERE Technologies, Indoor Atlas, Map box, Esri, Google LLC, IBM Corporation, Cisco Systems, Inc., Maxar Technologies, ALE International, Qualcomm Technologies, Inc. These market gamers provide a degree-gambling competitive panorama.
In October 2023, The Indian government implemented a CORS survey network nationwide, offering real-time location mapping and positioning services.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 19.5% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Technology
GPS
Assisted GPS (A-GPS)
Enhanced GPS (E-GPS)
Enhanced Observed Time Difference (E-OTD)
Wi-Fi
Cellular ID
Others (Bluetooth Beacon, Near Field Communication (NFS))
By Application
GIS and Mapping
Navigation and Tracking
Geo Marketing and Advertising
Social Networking and Entertainment
Fleet Management
Others (Business Intelligence and Analytics, Geospatial Database Development)
By Location Type
Outdoor
Indoor
By End-Users
Transportation and Logistics
Manufacturing
Retail and Consumer Goods
Automotive
Healthcare
Government and Public
Aerospace and Defense
Others (BFSI, IT and Telecom, Gaming)
By Region
North America (By Technology; Application; Location Type; End-Users, and Country)
- U.S. (By End-Users)
- Canada (By End-Users)
- Mexico (By End-Users)
South America (By Technology; Application; Location Type; End-Users, and Country)
- Brazil (By End-Users)
- Argentina (By End-Users)
- Rest of South America
Europe (By Technology; Application; Location Type; End-Users, and Country)
- U.K. (By End-Users)
- Germany (By End-Users)
- France (By End-Users)
- Italy (By End-Users)
- Spain (By End-Users)
- Russia (By End-Users)
- Benelux (By End-Users)
- Nordics (By End-Users)
- Rest of Europe
Middle East & Africa (By Technology; Application; Location Type; End-Users, and Country)
- Turkey (By End-Users)
- Israel (By End-Users)
- GCC (By End-Users)
- North Africa (By End-Users)
- South Africa (By End-Users)
- Rest of the Middle East & Africa
Asia Pacific (By Technology; Application; Location Type; End-Users, and Country)
- China (By End-Users)
- Japan (By End-Users)
- India (By End-Users)
- South Korea (By End-Users)
- ASEAN (By End-Users)
- Oceania (By End-Users)
- Rest of Asia Pacific
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