ID: MRFR/ICT/3993-CR | November 2022 | Region: Global | 175 Pages
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Companies Profiled | |
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Key Players | |
Apple Inc. | |
Qualcomm Inc. | |
AT&T Inc. | |
Bharti Airtel LTD. | |
Oracle Corporation | |
Google Inc. | |
HERE | |
Alcatel-Lucent SA | |
International Business Machines Corporation | |
Cisco Systems Inc. | |
Microsoft Corporation. |
Market Driving Forces | |
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Drivers | |
The increasing number of smartphone users and internet accessibility has bolstered the growth | |
Effective solutions | |
Highly benefited by the advanced protocols |
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.
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.
Location-Based Services Market Dynamics:
Drivers:
Opportunities:
Restraint:
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.
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
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
Report Attribute/Metric | Details |
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Market Size | 2030: USD 1,12,073.5 Million |
CAGR | 18.1% CAGR |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2019 and 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | component, location type, technology, and vertical and region. |
Geographies Covered | North America, Europe, Asia-Pacific, Middle East & Africa, and South America |
Key Vendors | Microsoft Corporation (US), Oracle Corporation (US), TomTom International BV (Netherlands), ESRI (Germany). |
Key Market Opportunities | • Increased demand for wearable devices |
Key Market Drivers | • Proliferation of location-based apps among consumers • Rise in use of location-based mobile advertising |
The software segment is expected to drive the market during the forecasted period. Â
The global Location Based Services market was valued at USD 26,648.9 million in 2021 a   is expected to reach USD 112,073 million by the end of 2030 growing at a CAGR of 18.1%.
Microsoft Corporation (US), Oracle Corporation (US), TomTom International BV (Netherlands), and ESRI (Germany). are expected to be the major competitors in the Location Based Service market during the projected period.
The North American region is expected to be the largest market for the Location Based Service market during the forecast period.
Increased demand for wearable devices may slow the growth of the Location Based Services market during the forecast period.