Global Location Based Services Market

Global Location Based Services Market Size, Share, Growth Analysis, By Component(Platform, Services), By Location Type(Indoor, Outdoor), By Application(GIS, Navigation), By Vertical(Logistics, Retail) - Industry Forecast 2024-2031

Report ID: SQMIG45D2072 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 120 | Figures: 77

Global Location Based Services Market Competitive Landscape

Google has been actively offering location based services and solutions, such as search engine, cloud computing, and location-based advertising. The goal of Google location-based services (LBS) is to deliver a more precise device location and to increase location accuracy in general. Additionally, based on the user's location, Google Maps offers helpful information about nearby eateries, ATMs, and other locations. The business also provides integration of the LBS API for other application developers. Google Now, Google Search, and Knowledge Graph are other location based services offered by the search giant.

Maps and location-based services (LBS) are offered by HERE, an Open Location Platform firm, across a variety of displays and OSs. It offers services and solutions to several end-use industries, including the public sector, infrastructure, telecom, utilities, and the automotive, transportation, and logistics sectors. It offers services and solutions to several end-use industries, including the public sector, infrastructure, telecom, utilities, and the automotive, transportation, and logistics sectors. A variety of location-based services (LBS) are available from HERE, including Fleet Telematics, Geocoding, Geo visualization, HERE Advertising Data Services, and HERE Mobile SDK, which adds smart location context to user location data for more accurate location.

Apple location-based services enable Apple and outside app developers to track Apple customers' present locations and provide them a range of location based services. Apple has recently seen increased success with indoor location based services. Additionally, the business expanded its indoor location based services technology by introducing iBeacon and acquiring WIFI SLAM.

Location Based Services Market Top Players Company Profiles

  • Apple
  • Google LLC
  • HERE Technologies
  • TomTom N.V.
  • Foursquare Labs, Inc.
  • Cisco Systems, Inc.
  • ESRI (Environmental Systems Research Institute)
  • IBM Corporation
  • Microsoft Corporation
  • Oracle Corporation
  • Qualcomm Inc.
  • Telenav, Inc.
  • Zebra Technologies Corporation
  • Ericsson AB
  • Navigine
  • Navisens
  • AirSage Inc.
  • Bluedot Innovation
  • Geoloqi
  • LocationSmart

Location Based Services Market Recent Development

  • In October 2021, Kloudspot Inc. announced its partnership with Cisco Meraki to help organizations offer safer and smarter workspace experiences for customers and employees. The Kloudspot Platform and KloudVision combine real-time location intelligence and video analytics collected from the Cisco Meraki intuitive cloud-first platform to securely integrate unique safety features, such as occupancy monitoring for social distancing, automated triggers, and PPE compliance monitoring.
  • In October 2021, Ola, a leading cab aggregator and e-vehicle maker announced that it had acquired GeoSpoc, a geospatial service provider, to help develop more accurate mapping, incorporating multi-modal transportation options, deploying real-time satellite imagery to access road quality for increased safety.
  • In August 2021, IT services major Wipro Ltd announced that it has partnered with HERE Technologies to offer location-based services to customers from energy and utilities, manufacturing, transport and Logistics, telecom, and automotive industry verticals.
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FAQs

Location Based Services Market size was valued at USD 45.4 billion in 2019 and is poised to grow from USD 56.57 billion in 2023 to USD 409.48 billion by 2031, growing at a CAGR of 24.6% in the forecast period (2024-2031).

Google has been actively offering location based services and solutions, such as search engine, cloud computing, and location-based advertising. The goal of Google location-based services (LBS) is to deliver a more precise device location and to increase location accuracy in general. Additionally, based on the user's location, Google Maps offers helpful information about nearby eateries, ATMs, and other locations. The business also provides integration of the LBS API for other application developers. Google Now, Google Search, and Knowledge Graph are other location based services offered by the search giant. 'Apple', 'Google LLC', 'HERE Technologies', 'TomTom N.V.', 'Foursquare Labs, Inc.', 'Cisco Systems, Inc.', 'ESRI (Environmental Systems Research Institute)', 'IBM Corporation', 'Microsoft Corporation', 'Oracle Corporation', 'Qualcomm Inc.', 'Telenav, Inc.', 'Zebra Technologies Corporation', 'Ericsson AB', 'Navigine', 'Navisens', 'AirSage Inc.', 'Bluedot Innovation', 'Geoloqi', 'LocationSmart'

The market is projected to grow as a result of smart phones, social media, and the ease with which GPS technology is accessible

Location based mobile services are gaining popularity. A location-based service is available with a smart phone and data plan. Popular subcategories include social networking, local search and information services, navigation, and entertainment. On the mobile web, the major social networks are expanding quickly. Improved 3G networks, rising 3G handset usage, and the popularity of smart phones have persuaded vendors to support the huge growth of mobile applications, particularly location-aware apps. An additional conduit into the location based services market is offered through application store. Local search and social networking services will be ad-supported, but many operator navigation services are expected to continue being sponsored by service fees and tracking services. Mobile advertising is still a fragmented market with low revenues when compared to premium mobile sources. Therefore, location can be an important target marketing characteristic for some brands.

North America dominated the global location based services market in 2021 and it is expected to maintain its dominance throughout the forecast period. The lucrative rise in North America is primarily attributable to the region's growing smartphone adoption and advancements in communication technologies. Location-based services (LBS) are being used by businesses in the region to find their customers, which will help them expand their businesses. Because there are more smartphone users in the US than anywhere else in North America, and infrastructure is developing at a rapid rate, the US has emerged as the region major contributor in the growth of location based services market. In addition, the market will be impacted throughout the projected period by the profitable expansion of cutting-edge technologies like the Internet of Things (IoT), artificial intelligence (AI), and cloud computing.

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