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Location-Based Services Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2031

Global Location-Based Services Market: By Components (Solutions, Services); Location Type (Indoor, Outdoor); Technology (Global Positioning System (GPS), Global Navigation Satellite System (GNSS), Wi-Fi, Cellular ID, Bluetooth Beacons, Others); Application (Inventory Monitoring, Mapping & GIS, Asset Tracking, Proximity Marketing, Social Networking, Fleet Management, Navigation, Business Intelligence & Analytics); End User ( BFSI, Manufacturing, Retail, Healthcare & Life Science, IT & Telecom, Hospitality, Transportation & Logistics, Government, Media & Entertainment, Aerospace & Défense, Others); Region—Market Size, Industry Dynamics, Opportunity Analysis and Forecast for 2023–2031

  • Published Date: 06-Feb-2023  |   Format: pdfpowerpointexcel  |  Report ID: AA0223364
    Delivery: 2 to 4 Hours


Global positioning system (GPS), global navigation satellite system (GNSS), Wi-Fi, cellular id, Bluetooth beacons, and others are the main types of technologies under the location-based services market that are expected to grow substantially in the future.

Major applications where location-based services are being used includes inventory monitoring, mapping & GIS, asset tracking, proximity marketing, social networking, fleet management, navigation, and business intelligence & analytics.

The main benefits of location-based services include improvement in the customer experience, receiving detailed insights into customer behaviour, maximizing the marketing efforts etc.

Location-based services (LBS) have become a necessary business tool for enterprises, especially in industries such as hospitality, automotive, banking, and transportation & logistics. The need for location-based services in enterprise is increasing as it allows you to offer more relevant content and information, rather than spamming users with ads and opportunities that are useless to them. Location-based services also enable customers to share their experiences with others in their network, which can help spread the word about your business.

The global location-based services market is projected to grow at a CAGR of 24.24% during the forecast period 2023-2031 and is expected to reach US$ 3,73,382.5 million by 2031. 

Factor such as spurred demand for location-based services in enterprises and it’s rising applications in tourism are likely to drive the market over the coming years.

The service segment holds the largest CAGR in the global location-based services market during the forecast period, 2023-2031.

Privacy issues in location-based applications​ inhibits the growth of the location-based services market during the forecast period. 

Asia Pacific holds the major share in term of revenue in the global location-based services market in 2022.

China holds the major share in term of revenue in the Asia Pacific location-based services market in 2022.

Location based-systems in healthcare provides a lucrative growth opportunity in the location-based services market.

Component, Location Type, Technology, Application, End User, and Country are the different segments in the global location-based services market.

Google, Apple Inc., Microsoft, IBM, and Oracle, among others are some of the major key players in the global location-based services market.