The Brazil location-based services market size is valued at USD 0.63 billion in the current year. It is expected to register a CAGR of 11.56% during the forecast period to reach USD 1.08 billion by the next five years.
The location-based services market is in need of greater coherence. Ongoing research and technological advancements are expected to be the primary trends driving the market forward. Companies are implementing various strategies to expand their customer base and establish a strong presence in the market, with a focus on long-term partnerships, mergers, and acquisitions.
In October 2023, the Brazilian Army placed an order with the country's state-owned shipyard, Arsenal de Marinha do Rio de Janeiro (AMRJ), to construct four LOpRib (Lancha de Operações Ribeirinhas) multimission riverine fast armored attack crafts. This procurement is intended to enhance the mobility and firepower of combat groups deployed in smaller regions of Brazil. Notably, this agreement will double the number of LOpRib boats in operation within the Brazilian Armed Forces. The LOpRib design is based on the Excalibur craft type produced by the Ladário Fluvial Base.
In May 2023, Cesium announced a strategic partnership with Google Maps Platform. This collaboration involves the launch of Photorealistic 3D Tiles via the Map Tiles API. Photorealistic 3D Tiles utilize the widely accepted Open Geospatial Consortium's 3D Tiles standard, which Cesium developed. This data is publicly available for over 2,500 cities and 49 countries, and it is accessible within an open ecosystem of 3D Tiles-enabled runtimes, including CesiumJS, Unity, Unreal, and NVIDIA Omniverse. Developers now can use Cesium ion to seamlessly integrate their 3D geospatial data, allowing them to create immersive metaverse experiences with Photorealistic 3D Tiles.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook