Location-based Services (LBS)

Global Location-based Services (LBS) Market to Reach US$738.6 Billion by 2030

The global market for Location-based Services (LBS) estimated at US$214.4 Billion in the year 2024, is expected to reach US$738.6 Billion by 2030, growing at a CAGR of 22.9% over the analysis period 2024-2030. Services, one of the segments analyzed in the report, is expected to record a 18.5% CAGR and reach US$228.7 Billion by the end of the analysis period. Growth in the Platforms segment is estimated at 25.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$54.5 Billion While China is Forecast to Grow at 28.7% CAGR

The Location-based Services (LBS) market in the U.S. is estimated at US$54.5 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$196.6 Billion by the year 2030 trailing a CAGR of 28.7% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 17.3% and 19.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 18.5% CAGR.

Location-based Services (LBS) - Key Trends and Drivers

Location-based Services (LBS) have emerged as a transformative technology, revolutionizing various industries by providing precise geographic information to users based on their location. LBS encompass a wide range of services, including navigation and mapping, social networking, location-based advertising, and emergency assistance. This technology leverages GPS, Wi-Fi, and mobile network data to pinpoint a user`s location, offering tailored services and information in real-time. As smartphones and mobile internet penetration continue to grow, the adoption of LBS has seen a significant upsurge, providing users with convenient and contextually relevant experiences. Businesses across different sectors, such as retail, transportation, healthcare, and tourism, are increasingly integrating LBS into their operations to enhance customer engagement, optimize logistics, and improve service delivery. In addition to consumer applications, LBS are also being utilized in critical infrastructure management and urban planning, showcasing their broad utility and versatility.

In the retail sector, LBS allows for highly targeted marketing strategies, enabling businesses to send personalized promotions and advertisements to customers based on their current or past locations. This form of hyperlocal marketing has proven effective in driving foot traffic to physical stores and increasing sales. Retailers can use geofencing to create virtual perimeters around specific locations, triggering promotional messages when potential customers enter these zones. In transportation and logistics, LBS aids in fleet management, route optimization, and real-time tracking of shipments, thereby enhancing operational efficiency and reducing costs. For instance, logistics companies can monitor vehicle locations, improve delivery times, and manage fuel consumption more effectively. Healthcare applications of LBS include tracking the location of medical equipment, optimizing patient flow in hospitals, and providing location-based health alerts. Hospitals and clinics can utilize LBS to streamline operations, such as directing patients to the nearest available healthcare provider. Furthermore, the tourism industry benefits from LBS by offering tourists personalized recommendations, augmented reality experiences, and location-based tours, enriching their travel experiences. Tourists can receive information about nearby attractions, restaurants, and historical sites, enhancing their overall journey.

The growth in the LBS market is driven by several factors, including the proliferation of smartphones and connected devices, advancements in mobile internet technologies, and the increasing adoption of IoT. Enhanced GPS accuracy and the development of sophisticated mapping and geospatial analytics tools have also propelled the market forward. Consumer demand for personalized experiences and real-time information has led to greater acceptance and reliance on LBS applications. For instance, users increasingly expect their apps to provide location-specific content, from weather updates to local news. Moreover, the rise of smart cities and smart infrastructure projects has expanded the application scope of LBS, integrating them into urban planning, traffic management, and public safety systems. Cities are deploying LBS to manage traffic flow, optimize public transportation, and ensure citizen safety during emergencies. Strategic partnerships and collaborations between tech companies and service providers are further accelerating innovation and deployment of LBS solutions. As data privacy concerns and regulatory frameworks evolve, companies are also focusing on developing secure and compliant LBS offerings to maintain consumer trust and ensure sustainable market growth. Ensuring that user data is handled securely and transparently is critical for the continued expansion and acceptance of LBS.

SCOPE OF STUDY:

The report analyzes the Location-based Services (LBS) market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Component (Services, Platforms, Hardware); Location Type (Outdoor, Indoor); Application (Tracking & Navigation, Marketing & Advertisement, Location-Based Social Networks, Location-Based Health Monitoring, Other Applications); Vertical (Transportation & Logistics, Retail, Government, Manufacturing, Tourism & Hospitality, Healthcare & Life Sciences, Media & Entertainment, Other Verticals)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 106 Featured) -

• Apple, Inc.
• AT&T, Inc.
• Bharti Airtel Ltd.
• Cisco Systems, Inc.
• Google LLC
• IBM Corporation
• Microsoft Corporation
• Nokia Corporation
• Oracle Corporation
• Qualcomm Inc.

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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