Location as a Service Market Size To Grow By USD 7.84 Billion at a CAGR of 24% - Introspective Market Research

Market Overview:
Global Location as a Service Market size was valued at USD 1.74 Billion in 2021, and is projected to reach USD 7.84 Billion by 2028, growing at a CAGR of 24% from 2022 to 2028.

Location as a Service refers to computer or mobile applications that deliver information depending on the device's and the user's location, primarily via mobile portable devices such as smartphones and mobile networks. The accuracy of location services is mostly determined by the technology and software used in mobile communication systems, as well as the positioning server. It is increasingly being used to find acquaintances in an area, find the nearest restaurant, or advertise offers to local shoppers. Location as a Service provides consumers with useful and up-to-date information about their surroundings and enables businesses to keep their customers informed about their orders. All these Location as a Service applications offer a dynamic user experience, providing a convenient method for the interaction of business enterprises with customers.

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Market Dynamics:
Driver:
Factors such as high demand Location as a Service across various sectors such as agriculture, energy, defense, transportation, and others drive the global Location as a Service market. In terms of navigation and traffic management, the introduction of Location as a Service has transformed the transportation sector. In rescue operations, the defense industry uses Location as a Service to secure borders and generate border maps. The real estate and civil engineering industries have made considerable strides in terms of adopting new technologies such as architectural design, project site definition, and multi-dimensional modelling.

Opportunities:
At the moment, economies are moving their focus from pandemic response to economic recovery, and as a result, various development possibilities for Location as a Service market players may emerge due to rising demand for GPS-based solutions. During the COVID-19 pandemic, leading location-based service providers expanded their service portfolio and product capabilities, propelling the rise of the Location as a Service market.

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Segmentation Analysis of the Location as a Service Market
By Product Type
• GPS
• GPRS
• RFID
• GIS

By Application
• Tracking & Navigation
• Location-Based Social Network
• Marketing & Advertising
• Others

By Industry Verticals
• Consumer Electronics
• Government
• BFSI
• Retail
• Transportation
• Others

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Regional Analysis Of the Surgical Staplers Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
• Middle East & Africa (GCC Countries, South Africa, Rest of MEA)
• South America (Brazil, Argentina, Rest of South America)

Top Key Players Covered In Location as a Service Market
• Cisco Systems
• Google Inc.
• Ericsson
• IBM Corp.
• Qualcomm
• Location Labs
• LocationSmart
• Microsoft Corp.
• Oracle Corp.
• Esri
• Accelerite and other major players.

Key Industry Development In The Location as a Service Market

In October 2021, Kloudspot Inc. announced its collaboration with Cisco Meraki. This partnership helps organizations that provide safer and smarter workspace experiences for employees and customers. The KloudVision and Kloudspot platform combine real-time location intelligence and video analytics collected from the Cisco Meraki.

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Key Benefits for Industry Participants & Stakeholders:
• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Location as a Service Market

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