Location-Based Services Market Forecasts to 2028 – Global Analysis By Component (Hardware, Software, Services), Location (Outdoor, Indoor), End User (Banking, Financial Services, and Insurance (BFSI), Government) and By Geography
According to Stratistics MRC, the Global Location-Based Services Market is accounted for $17.80 billion in 2020 and is expected to reach $72.06 billion by 2028 growing at a CAGR of 19.1% during the forecast period. Factors such as increasing number of smartphone users, increasing availability of spatial data and analytical tools are driving the growth of the market. However, privacy and security concerns are hampering the growth of the market.
Location-based services are used to determine the geographical location of a device through a software. These services are critical to several businesses as well as government organisations to drive real insight from data tied to a particular location where certain activities take place.
Based on the location, the outdoor segment is anticipated to expand at a rapid pace during the forecast period due to the rising demand to trace long-distance objects or people. By geography, North America is going to have high growth during the forecast period which can be attributed to the increasing industry standards and enhanced financial support from the governments of the region.
Some of the key players profiled in the Location-Based Services Market include Cisco Systems Inc., Google LLC, Ericsson Inc., Microsoft Corporation, IBM Corporation, Intel Corporation, Qualcomm Technologies Inc., ALE International, GL Communications Inc., DigitalGlobe Inc.(Maxar Technologies), Creativity Software Ltd., Teldio Corporation, IndoorAtlas Ltd, TeleMapics LLC, and HPE Aruba Inc.
Estimated Market Size in 2020:
USD 17.80 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 72.06 billion
Tables, Graphs & Figures
Component, Location, Technology, Application, End User, and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Bluetooth Low Energy (BLE) Beacons
• Global Positioning System (GPS)/ Global Navigation Satellite System (GNSS)
• Observed Time Difference of Arrival (OTDOA)
• Enhanced Observed Time Difference of Arrival (E-OTD)
• Cell ID
• Assisted Global Positioning System (A-GPS)
• Enhanced Global Positioning System (E-GPS)
• Emergency Services
• Location-Based Advertising/Promotion Services
• Social Networking, Gaming, & Entertainment
• Proximity Marketing
• Local Search & Information
• Mapping & Navigation
• Business Intelligence & Analytics
• Asset Tracking
• Fleet Management
End Users Covered:
• Banking, Financial Services, and Insurance(BFSI)
• Government, Defense and Public Utilities
• Transportation & Logistics
• Healthcare & Life Sciences
• Fast Moving Consumer Goods (FMCG), Retail, and E-Commerce
• Industrial Manufacturing
• Media and Entertainment
• Information Technology (IT) and Telecom
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Location-Based Services Market is majorly driven by increasing number of smartphone users, increasing availability of spatial data and analytical tools.
The services segment is growing at a highest CAGR owing to its importance in the overall implementation process of location-based systems.
North America dominated with a significant market share due to the factors such as increasing industry standards and enhanced financial support from the governments of the region.
Asia Pacific market is growing at a highest CAGR owing to the high economic growth in countries like China, Japan, and India.
Key players in Location-Based Services Market include Cisco Systems Inc., Google LLC, Ericsson Inc., Microsoft Corporation, IBM Corporation, Intel Corporation, Qualcomm Technologies Inc., ALE International, GL Communications Inc., DigitalGlobe Inc.(Maxar Technologies), Creativity Software Ltd., Teldio Corporation, IndoorAtlas Ltd, TeleMapics LLC, and HPE Aruba Inc.
Select License Type
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.