Location Based Services Market: By Component (Hardware, Software {Geocoding and Reverse Coding, Location and Predictive Analytics, Reporting and Visualization, Database Management, and Spatial ETL, Risk Analytics and Threat Prevention}, Services {Managed Services, Professional Services}), Location Type (Outdoor, Indoor), Technology (Bluetooth Low ENERGY (BLE) Beacons, WI-FI, GPS/GNSS and Others), By Vertical (Government Defence and Public Utilities, Retail and E-commerce, Banking Financial Services and Insurance, Automotive Transportation a

Location Based Services Market Overview:

The global Location Based Services market was valued at USD 26,648.9 million in 2021 and is expected to reach USD 112,073 million by the end of 2030 growing at a CAGR of 18.1%.

Location-based services (LBS) are being deployed for more than a decade all across the globe. It was mainly used for navigation but now it is being used across all verticals and has a plethora of applications. For instance, in retail, LBS enhances to drive traffic to specific departments by presenting easy navigation to products; while in the healthcare sector, LBS technology has been successfully applied to minimize revenue loss due to missed appointments by guiding patients from home to their doctor's office within the hospital.

A location-based service can give mobile workers and consumers with targeted spatial information. Utility location information, personal or asset tracking, concierge and route-guidance information are just a few examples of LBS. LBS technologies and applications will become increasingly significant in today's mobile, always-connected society. Amidst the nationwide full /partial lockdown across the globe due to the spread of COVID19, the demand for location based services has decreased compared to the pre-COVID time. Analyzing the trends and the nature/characteristic of COVID-19, even in post COVID time, when people have to follow social distancing and will have to avoid huge gathering, the demand for location-based services is expected to be low.

• On Oct. 18, 2022, Rx Networks, Inc., a US-based GNSS data services company, announced collaboration with Qualcomm to make TruePoint.io precise location services available on Qualcomm's 5G mobile platforms - Snapdragon 8 Gen 1 and Snapdragon 888. TruePoint.io integration would empower Android smartphone users to achieve enhanced location accuracy, which was possible only with high-grade receivers. 

• With enhanced location accuracy, applications such as rideshare, micro-mobility, health & fitness, and lane-level requirement can be realized. Enabling reliable meter-level location accuracy on mobile phones would unlock the potential of location-based services and innovative & unique use cases. 

COVID-19 Impact vs  Opportunities for Global Location Based Services Market:

As more people stay home as a part of quarantine measures, there has been a drastic decrease in the footfall across the retail sector and the media and entertainment businesses. Businesses that depend on person-to-person interaction and those that attract large groups of people have mostly been shut down. This has led to a marked decrease from such establishments for location-based services.

According to an estimated that the global shipments of wearables is reached approximately 370 million by the end of 2020. The increasing adoption of wearable technology has created an ecosystem of GPS-enabled devices that can help with navigation and location tracking. The increased availability of cellular wearables has allowed people to leave their mobile phones at home and go for a run or engage in fitness activities without relying on their mobile phones for activity tracking. These applications have led to an increased usage of location-based services on wearables and provided a new market avenue for location-based service providers.

• On Jun. 16, 2021, Bringg, a leading provider of retail, logistics, and last-mile delivery management solutions, announced raising US $100M in a Series E round of funding to enable a last-mile delivery platform for retailers who are witnessing rapid growth in online sales even after COVID 19 mandates subdue.

• Considering many consumers switching to online shopping in the last year due to COVID-19, Bringg built software that helps retailers with last-mile logistics to manage and tap people fulfilling deliveries. Companies enabling those services continue to see a lot of business and attention.

Location-Based Services Market Dynamics:

Drivers:

• The usage of location-based applications has increased exponentially over the past few years. The rise in the usage of ride-hailing applications, in general, has led to an increase in the usage of such applications. Navigation, geo-marketing, gaming, fitness, and health tracking, and social networking are some of the other applications of location-based applications.

Opportunities:

• Increase demand for wearable devices have led to an increased usage of location-based services.

Restraint:

• Because the entire cost of acquiring an RTLS solution is still higher than that of more existing approaches such as barcodes and Passive RFID, end users want to evaluate the investment cost with the return on investment (ROI). Pricing is not a big deciding factor in very critical business applications where RTLS is an absolute necessity. End users calculate ROI in terms of man hours saved, money saved by decreasing asset and inventory loss and damage, and enhanced business margins due to increased sales.

• On Jan. 20, 2022, GL Communications Inc., a leading global provider of telecom test & measurement solutions, announced the simulation of its location-based services in mobile networks. The simulation of GL's location services (LCS) test suite would enhance the support emulation of location services on GSM, UMTS, and LTE networks. 

• This would further respond to the need for pinpoint user location solutions, which persist through a massively scalable suite of tools and a high-quality database for mobile location services. Mobile location services infrastructure focuses on mobile positioning that can enhance functionalities, interfaces, and communication messages necessary to implement the positioning functionality in a cellular network.

Value Chain Analysis

The global location-based services market is rapidly growing and is expected to witness favorable growth prospects in the coming years. The increasing availability of user-generated video content and the rise in brand engagement through social media platforms has led to the growth of the global market. The value chain of the global location-based services market consists of LBS providers, LBS platform providers, and end users.

Segment Overview

The global Location Based Services market has been segmented by component, location type, technology, vertical and region.

The global Location Based Services market, based on component, has been segmented into Hardware, Software {Geocoding and Reverse Coding, Location and Predictive Analytics, Reporting and Visualization, Database Management, and Spatial ETL, Risk Analytics and Threat Prevention}, Services {Managed Services, Professional Services})\. The software segment is expected to reach USD 72,637.6 million at a CAGR of 17.9%.

The global Location Based Services market, is based on location types outdoor and indoor.

The global Location Based Services market, is based on technology, Bluetooth Low ENERGY (BLE) Beacons, WI-FI, GPS/GNSS, and Others.

The global Location Based Services market By Vertical is segmented on the basis of Government Defence and Public Utilities, Retail and E-commerce, Banking Financial Services and Insurance, Automotive Transportation and Logistics, Industrial Manufacturing, Healthcare, and Life Science, Media and Entertainment, Others

Location-Based Services Market Regional Analysis

The global Location Based Services market has been studied across North America, Asia-Pacific, Europe, the Middle East & Africa, and South America.

North America accounted for the largest market share of 38.21% in 2021. North America is a major market for location-based services due to rising automation and increased adoption of industry 4.0 in the region. The region especially the US has the presence of a large number of location-based service providers including Google, Microsoft Corporation, IBM Corporation, Apple Inc, Amazon, and Oracle Corporation. Additionally, the region especially US and Canada being technologically advanced countries are rapidly adopting location-based service technology for increasing demand for wearable devices.

The factor contributing to the Location-based services market growth of Europe is  Europe being an industrialized region creates an immense market for location-based services. The region includes industrialized countries such as UK, Germany, France, Spain, and the Rest of Europe. According to UK law, location-based services must be permission-based. That is, in order to get messages and information, the end user must opt-in to the service. In most situations, this entails installing the LBS application and agreeing to allow the service to determine the device's location.

Asia-Pacific is the fastest growing. Asia pacific regions include countries such as China, India, Japan, South East Asia, and Rest of Europe. In recent years the region has witnessed rapid growth in industrialization combined with an increasing presence of small and medium-sized enterprises (SMEs) in the region are some of the factors that are expected to drive the Location-based services market growth. Countries such as China, India, and Japan have witnessed a rapid rise in the technology sector creating a huge demand for location-based services, software, and hardware component to transform technology facilities.

• On May 10, 2022, AT&T, with Intrado, launched the first-ever nationwide location-based routing technology to improve public safety response for wireless 911 Calls. The new device location is now used to route 911 calls and direct first responders to the right location faster, accomplishing long-standing FCC policy goals. 

• With this new Locate Before Route feature designed by Intrado, AT&T can quickly and accurately identify where a wireless 911 call comes from using a GPS device and hybrid information to route the call to the expected public safety answering point or PSAP.

Location-Based Services Market  Competitive Landscape

The global for Location Based Services market is projected to witness healthy growth during the forecast period, owing to the proliferation of location-based apps among consumers, and the rise in the use of location-based mobile advertising.

Key players operating in the global Location Based Services market include Microsoft Corporation (US), Oracle Corporation (US), TomTom International BV (Netherlands), ESRI (Germany), Ericsson (Sweden), Qualcomm Incorporated (US), ROKK (US), iSpace (US), Apple Inc (US), Baidu Inc (China), NavInfo Co., Ltd. (China), IBM (US), Google Inc (US), Cisco Systems, Inc.(US), Amazon.com Inc. (US), HERE Technology (Netherlands), and Mapbox (Netherlands).

Recent Developments

Oracle cloud infrastructure introduces new services and features aimed at providing customers with even greater freedom. A first in the industry, new flexible block storage volumes automatically tune performance attributes in response to varying demand. On March 2022

Trimble and Qualcomm Technologies, Inc. have announced the availability of Trimble RTX GNSS technology for the Qualcomm Snapdragon 8 Gen 1 and Snapdragon 888 Mobile Platforms. This technology improves the location capabilities of premium Android smartphones around the world. Trimble RTX GNSS technology, a corrective services platform, combined with Snapdragon results in higher quality, more accurate location-based user experiences like auto navigation with lane-level guidance. On March 2022

IBM purchased Microsoft cloud partner Neudesic to strengthen its bench of Azure, Dynamics, and Office 365 expertise. The deal's terms were not disclosed. Neudesic, like many other companies Big Blue has bought to expand its hybrid and multi-cloud capabilities is now part of IBM Consulting. On February 2021

Google Maps, a subsidiary of Alphabet Inc, has launched its street view service in 10 Indian cities in collaboration with Tech Mahindra and Genesys. The Indian government had previously rejected the function, which displays panoramic photos of roadways and other locations. On July 2021

Amazon Web Services (AWS) is expanding in the Middle East, bringing new infrastructure to the UAE with the inauguration of an AWS Region in 2022. This new Region in the UAE will have three Availability Zones, providing local clients with more options and flexibility to exploit sophisticated cloud technologies, as well as the ability to run workloads and store data locally while serving end users with even lower latency. On June 2021

Report Overview

As per MRFR, the global Location Based Services market has been growing significantly over the past few years. The global Location Based Services market has been segmented on the basis of component, location type, technology, and vertical. Based on region, the graphical user interface design software market has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.

Objective of the Study

• To provide a comprehensive analysis of the Location Based Services market and its sub-segments, thereby providing a detailed structure of the industry


• To provide detailed insights into factors driving and restraining the growth of the global Location Based Services market


• To estimate the size of the global Location Based Services s market where 2018 and 2020 would be the historical period, 2021 shall be the base year, and 2022 to 2030 will be the forecast period for the study


• To analyze the global Location Based Services s market in five main regions, namely, North America, Europe, Asia-Pacific, the Middle East & Africa, and South America


• To provide country-wise market value analysis for various segments of the Location Based Services market


• To provide strategic profiling of key companies present across the globe and comprehensively analyze their competitiveness/competitive landscape in this market


• To provide a value chain for the Location Based Services market

Scope of the Report

The scope of the global Location Based Services market study includes the market size analysis and a detailed analysis of the vendor’s products and strategies. The global Location Based Services market has been segmented on component, location type, technology, and vertical and region.

Intended Audience

• Location Based Services Administrators


• Location Based Services manufacturers and providers


• Automobile industry


• Software integrators


• IT enterprises


• Technology investors


• Regulatory industries


• Government bodies