Location-based Services Market size was valued at USD 36.35 billion in 2021, growing at a CAGR of 25.3% from 2022 to 2032: Evolve Business Intelligence

A location-based service is a group of services that comprises features such as mapping and navigation, local exploration & information, social networking & entertainment, nearness marketing, asset tracking, and others offered via software, which helps end-users to enter location-specific data, and other working services.

The driving factors of the location-based services market:
• The growing number of smartphone users and internet accessibility has bolstered the growth
• Effective solutions
• Highly promoted by the advanced protocols

The use of location-based applications has augmented exponentially over the past few years. The increase in the usage of ride-hailing applications, overall, has led to an upsurge in the usage of such applications. Navigation, gaming, fitness, geo-marketing, health tracking, and social networking are near the other applications of location-based applications.

The global Location-based Services Market size was valued at USD 36.35 billion in 2021 growing at the CAGR of 25.3% from 2022 to 2032. Evolve Business Intelligence provides an in-dept research study that contains the ability to focus on the major market dynamics in several region across the globe. Moreover, a details assessment of the market is conducted by our analysts on various geographic including North America, Europe, Asia Pacific, Latin America, and Middle East & Africa to provide clients with opportunity to dominate the emerging markets. The Location-based Services Market study includes growth factors, restraining factors, challenges, and Opportunities which allows the businesses to assess the market capability of the industry. The report delivers market size from 2020 to 2032 with forecast period of 2022 to 2032. The report also contains revenue, production, sales consumption, pricing trends, and other factors which are essential for assessing any market.

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Key Highlights:
• The global Location-based Services Market size was valued at USD 36.35 billion in 2021 growing at the CAGR of 25.3% from 2022 to 2032.
• North America dominated the market in 2021
• Asia Pacific is expected to grow at a highest CAGR from 2022 to 2032

Key Players
The Location-based Services Market report gives comprehensive information about the company and its past performance. The report also provides a detail market share analysis along with product benchmarking with key developments.

The key players profiled in the report are:
Apple Inc.
• Qualcomm Inc.
• AT&T Inc.
• Bharti Airtel LTD.
• Oracle Corporation
• Google Inc.
• HERE
• Alcatel-Lucent SA
• International Business Machines Corporation
• Cisco Systems Inc.

The Global Cloud Robots Logistic report also includes information on company profiles, product descriptions, revenue, market share data, and contact details for several regional, global, and local companies. Due to increased technological innovation, R&D, and M&A operations in the sector, the market is becoming more popular in particular niche sectors. Additionally, a large number of regional and local vendors in the Location-based Services Market provide specialised product offerings according to geographical regions in keeping with the global manufacturing footprint. Due to the reliability, quality, and technological modernity of the worldwide suppliers, it is difficult for the new market entrants to compete.

COVID Impact
In terms of COVID 19 impact, the Location-based Services Market report also includes the following data points:
● COVID19 Impact on Location-based Services Market size
● End-User/Industry/Application Trend, and Preferences
● Government Policies/Regulatory Framework
● Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
● Opportunity in the Location-based Services Market

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Scope of the Report:
Market Segment By Component:
o Hardware
o Software
o Services

Market Segment By Location Type:
o Indoor
o Outdoor

Market Segment By Application:
o Emergency Services
o Tracking Services
o Navigation Services
o Others

Market Segment By End-User:
o BFSI
o IT and Telecommunications
o Retail
o Transportation and Logistics
o Government
o Healthcare and Life Sciences
o Manufacturing

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Key Region/ Countries Covered
● North America (US, Canada, Mexico)
● Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
● Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of MEA)
● Latin America (Mexico, Brazil, Argentina, Rest of Latin America)
● North America will be the dominant regional market during the forecast period. This profitable growth in North America is mainly due to the growing penetration of smartphones and developments in communication technology in this region.

Reasons to Buy this Report:
• Detail analysis of the impact of market drivers, restraints, and oppotunities
• Competitive Intelligence providing the understanding about the ecosystem
• Details analysis of Total Addressable Market (TAM) of your products
• Investment Pockets and New Business Opportunities
• Demand-supply gap analysis
• Strategy Planning

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About EvolveBI
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