Location Based Services Market Growth, Size, Trends, Revenue, Demand, Share and Future Outlook
Location Based Services (LBS) Market Size- By Component, By Technology, By Application, By Industry Vertical - Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Feb-2023 | Report ID: IACT2321 | Pages: 1 - 244 | Formats*: |
| Category : Information & Communications Technology | |||
Global Location Based Services (LBS) Market Overview
According to SPER Market Research, the Global Location Based Services Market is estimated to reach USD 407.87 billion by 2033 with a CAGR 22.4%.
Location-based services (LBS) are technology-driven services which use geographical data to give users with personalized and relevant experiences. They use gadgets such as cell phones and GPS systems to provide real-time maps, navigation, and instructions, revolutionizing how individuals navigate unfamiliar locations. LBS also enables businesses to provide location-based adverts and promotions to users, enhancing engagement and conversions. Location-based platforms in social networking connect members with shared interests or vicinity, allowing real-world interactions and community creation. LBS are useful in industries like as logistics, transportation, and emergency services since it allows for vehicle tracking, route optimization, and quick aid in situations. However, the ease of use of LBS poses privacy concerns, pointing out the importance of rigorous security measures and clear data processing practises in order to maintain user trust.
Exploring the Growth Drivers of the Global Location Based Services Market
The growth of the location-based service (LBS) market can be attributable to several important aspects. For starters, the widespread adoption of GPS-enabled smartphones and mobile devices has made it possible for people to easily access location-specific services. Second, the growing need for personalised information has driven the growth of LBS, as consumers expect bespoke recommendations and services based on their individual location and tastes. Furthermore, the rise of e-commerce and mobile commerce has increased demand for location-based advertising and marketing, allowing firms to target consumers with location-specific discounts and offers. The advent of location-based social networking sites has also contributed to market growth, as users seek to connect with others nearby and participate in local events.
What challenges does the Global Location Based Service Market face?
The global location-based service (LBS) industry faces challenges related to privacy and data security, regulatory compliance, location data accuracy, network infrastructure, interoperability, and user adoption. Protecting user privacy and ensuring clear data management practises are critical for retaining user trust. LBS providers must navigate various legal frameworks and adhere with data protection laws across multiple regions. It is critical for good user experiences to ensure the accuracy and reliability of location data, particularly in dense metropolitan settings. Additionally, in remote places, limited network coverage may make real-time access to LBS difficult. Interoperability issues develop when multiple platforms and technologies are combined.
In what ways has the COVID-19 pandemic affected Global Location Based Service Market?
The pandemic of COVID-19 had a mixed influence on the Location-Based Service (LBS) sector. Physical foot traffic declines and business closures during lockdowns caused difficulties for LBS suppliers depending on in-store advertising and navigation services. However, as people adapted to remote work and social distancing measures, the need for contactless services and remote assistance increased. The use of LBS applications that facilitate online purchasing and delivery services has increased. The epidemic also highlighted the value of real-time information in public health and safety. The location-based service (LBS) was crucial in tracking the infection, assisting in contact tracing, and giving location-based notifications. The crisis has expedited the introduction of telemedicine, with LBS being used for remote patient monitoring and prescription delivery.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Component, By Technology, By Application, By Industry Vertical. |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America |
| Companies Covered | Alcatel-Lucent, Apple Inc., AT&T Inc., Bharti Airtel Limited, Cisco Systems, Inc., Google Limited Liability Company (LLC), HERE, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Qualcomm Technologies, Inc. |
Key Target Audience:
- Business and Retailers
- E-Commerce and Online Platforms
- Transportation and Logistics
- Travel and Tourism
Global Location Based Service Market Segmentation:
1. By Component:
- Global Location Based Service Market Value Share and Forecast, By Component, 2023-2033
- Hardware
- Service
- Software
2. By Technology:
- Global Location Based Service Market Value Share and Forecast, By Technology, 2023-2033
- Assisted GPS (A-GPS)
- Cell ID
- Enhanced Observed Time Difference
- Global Positioning System (GPS)
- Wi-Fi
3. By Application:
- Global Location Based Service Market Value Share and Forecast, By Application, 2023-2033
- Local Search & Information
- Location-Based Advertising
- Mapping and Navigation
- Proximity Marketing
4. By Industry Vertical:
- Global Location Based Service Market Value Share and Forecast, By Industry Vertical, 2023-2033
- Government & Public Utilities
- Healthcare & Life Sciences
- Hospitality
- Manufacturing
- Media & Entertainment
- Transportation & Logistics
5. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report:
- Global Location Based Service Market Size (FY’2023-FY’2033)
- Overview of Global Location Based Service Market
- Segmentation of Global Location Based Services Market By Component (Hardware, Service, Software)
- Segmentation of Global Location Based Services Market By Technology (Assisted GPS, Cell ID, Enhanced Observed Time Difference, Global Positioning System, Wi-Fi, Others)
- Segmentation of Global Location Based Services Market By Application (Local Search & Information, Location-Based Advertising, Mapping and Navigation, Proximity Marketing)
- Segmentation of Global Location Based Services Market By Industry Vertical (Government & Public Utilities, Healthcare & Life Sciences, Hospitality, Manufacturing, Media & Entertainment, Transportation & Logistics)
- Statistical Snap of Global Location Based Service Market
- Growth Analysis of Global Location Based Service Market
- Problems and Challenges in Global Location Based Service Market
- Competitive Landscape in the Global Location Based Service Market
- Impact of COVID-19 and Demonetization on Global Location Based Service Market
- Details on Recent Investment in Global Location Based Service Market
- Competitive Analysis of Global Location Based Service Market
- Key Players in the Global Location Based Service Market
- SWOT Analysis of Global Location Based Service Market
- Global Location Based Service Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Location Based Service Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Location Based Service Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Location Based Service Market
7. Global Location Based Service Market, By Component (USD Million)
7.1. Global Location Based Service Market Value Share and Forecast, By Component, 2023-20337.2. Hardware7.3. Service7.4. Software
8. Global Location Based Service Market, By Technology (USD Million)
8.1. Global Location Based Service Market Value Share and Forecast, By Technology, 2023-20338.2. Assisted GPS (A-GPS)8.3. Cell ID8.4. Enhanced Observed Time Difference8.5. Global Positioning System (GPS)8.6. Wi-Fi8.7. Others
9. Global Location Based Service Market, By Application (USD Million)
9.1. Global Location Based Service Market Value Share and Forecast, By Application, 2023-20339.2. Local Search & Information9.3. Location-Based Advertising9.4. Mapping and Navigation9.5. Proximity Marketing
10. Global Location Based Service Market, By Industry Vertical (USD Million)
10.1. Global Location Based Service Market Value Share and Forecast, By Industry Vertical, 2023-203310.2. Government & Public Utilities10.3. Healthcare & Life Sciences10.4. Hospitality10.5. Manufacturing10.6. Media & Entertainment10.7. Transportation & Logistics
11. Global Location Based Service Market Forecast, 2019-2033 (USD Million)
11.1. Global Location Based Service Market Size and Market Share
12. Global Location Based Service Market, By Component, 2019-2033 (USD Million)
12.1. Global Location Based Service Market Size and Market Share by Component (2019-2026)12.2. Global Location Based Service Market Size and Market Share by Component (2027-2033)
13. Global Location Based Service Market, By Technology, 2019-2033 (USD Million)
13.1. Global Location Based Service Market Size and Market Share by Technology (2019-2026)13.2. Global Location Based Service Market Size and Market Share by Technology (2027-2033)
14. Global Location Based Service Market, By Application, 2019-2033 (USD Million)
14.1. Global Location Based Service Market Size and Market Share by Application (2019-2026)14.2. Global Location Based Service Market Size and Market Share by Application (2027-2033)
15. Global Location Based Service Market, By Industry Vertical, 2019-2033 (USD Million)
15.1. Global Location Based Service Market Size and Market Share by Industrial Vertical (2019-2026)15.2. Global Location Based Service Market Size and Market Share by Industrial Vertical (2027-2033)
16. Global Location Based Service Market, By Region, 2019-2033 (USD Million)
16.1. Global Location Based Service Market Size and Market Share by Region (2019-2026)16.2. Global Location Based Service Market Size and Market Share by Region (2027-2033)16.3. Asia-Pacific16.3.1. Australia16.3.2. China16.3.3. India16.3.4. Japan16.3.5. South Korea16.3.6. Rest of Asia-Pacific16.4. Europe16.4.1. France16.4.2. Germany16.4.3. Italy16.4.4. Spain16.4.5. United Kingdom16.4.6. Rest of Europe16.5. Middle East and Africa16.5.1. Kingdom of Saudi Arabia16.5.2. United Arab Emirates16.5.3. Rest of Middle East & Africa16.6. North America16.6.1. Canada16.6.2. Mexico16.6.3. United States16.7. Latin America16.7.1. Argentina16.7.2. Brazil16.7.3. Rest of Latin America
17. Company Profile
17.1. Alcatel-Lucent17.1.1. Company details17.1.2. Financial outlook17.1.3. Product summary17.1.4. Recent developments17.2. Apple Inc.17.2.1. Company details17.2.2. Financial outlook17.2.3. Product summary17.2.4. Recent developments17.3. AT & T Inc.17.3.1. Company details17.3.2. Financial outlook17.3.3. Product summary17.3.4. Recent developments17.4. Bharti Airtel Limited17.4.1. Company details17.4.2. Financial outlook17.4.3. Product summary17.4.4. Recent developments17.5. Cisco Systems17.5.1. Company details17.5.2. Financial outlook17.5.3. Product summary17.5.4. Recent developments17.6. Google Limited Liability Company17.6.1. Company details17.6.2. Financial outlook17.6.3. Product summary17.6.4. Recent developments17.7. HERE17.7.1. Company details17.7.2. Financial outlook17.7.3. Product summary17.7.4. Recent developments17.8. International Business Machines Corporation17.8.1. Company details17.8.2. Financial outlook17.8.3. Product summary17.8.4. Recent developments17.9. Microsoft Corporation17.9.1. Company details17.9.2. Financial outlook17.9.3. Product summary17.9.4. Recent developments17.10. Oracle Corporation17.10.1. Company details17.10.2. Financial outlook17.10.3. Product summary17.10.4. Recent developments17.11. Qualcomm Technologies Inc.17.11.1. Company details17.11.2. Financial outlook17.11.3. Product summary17.11.4. Recent developments17.12. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Location Based Services Market is projected to reach USD 407.87 billion by 2033, growing at a CAGR of 22.4% during the forecast period.
Location Based Services Market grew in market size from 2023. The Market is expected to reach USD 407.87 billion by 2033, at a CAGR of 22.4% during the forecast period.
Location Based Services Market CAGR of 22.4% during the forecast period.
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Location Based Services Market size is USD 407.87 billion from 2023 to 2033.
Location Based Services Market Segment is Covered By Component, By Technology, By Application, By Industry Vertical.
The North America region is anticipated to have the highest market share in Location Based Services Market.
The key players in the market include Companies Covered Alcatel-Lucent, Apple Inc., AT&T Inc., Bharti Airtel Limited, Cisco Systems, Inc., Google Limited Liability Company (LLC), HERE, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, Qualcomm Technologies, Inc.
The widespread use of smart devices like sensors, Internet of Things (IoT), and others is one of the main factors driving the growth of the location-based services market.
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