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Rapid Smartphone Adoption Fuels Growth In Location-Based Services Market : A Key Driver Powering Location-Based Services Market Growth In 2025
Location-Based Services
How Big Is the Location-Based Services Market Size Expected to Be by 2034?
In the past few years, there has been a significant expansion in the market size of location-based services. It is estimated to surge from the value of $105.74 billion in 2024 to a whopping $131.33 billion in 2025, growing at a Compound Annual Growth Rate (CAGR) of 24.2%. The historical growth can be linked with the rise in smartphone usage, the integration of e-commerce and retail, the increase in mobile advertisement, applications for transportation and navigation, and the advent of IoT and wearable devices.
The market size of location-based services is anticipated to experience significant growth in the coming years, reaching $356.87 billion in 2029, with a compound annual growth rate (CAGR) of 28.4%. This forecast period's growth can be linked to the rising demand for indoor location services, the development of smart cities and urban planning initiatives, contact tracing and health applications, and advancement in location analytics. Key emerging trends during this forecast period include proximity marketing and beacon technology, mobile indoor navigation systems, the surge of location-based gaming, integration with 5G networks, and applications for emergencies and public safety.
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What Are the Emerging Segments Within the Location-Based Services Market?
The location-based services market covered in this report is segmented -
1) By Component: Platform, Hardware, Services
2) By Location Type: Indoor, Outdoor
3) By Technology: GPS, Assisted GPS (A-GPS), Enhanced GPS (E-GPS), Enhanced observed time difference (E-OTD), Observed Time Difference, Cell ID, Wi-Fi, Other Technologies
4) By Application: Location-based Advertising, Business Intelligence And Analytics, Fleet Management, Mapping And Navigation, Social Networking And Entertainment, Proximity marketing, Asset Tracking, Other Applications
Subsegments:
1) By Platform: Cloud-Based Platforms, On-Premise Platforms, Mobile Applications, Integrated Workplace Management Systems (IWMS)
2) By Hardware: Computers and Laptops, Networking Equipment, Servers, Security Systems, Communication Devices
3) By Services: Consulting Services, Implementation Services, Training and Support Services, Maintenance and Repair Services, Managed Services, Technical Support Services
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What Long-Term Drivers Are Shaping Location-Based Services Market Trends?
The rise in smartphone and GPS-enabled device usage is predicted to boost the expansion of location-based services. By integrating the internet, geospatial technologies, and various information and communication technologies, location-based services offer specific information to people on their smartphones, taking into account their geographic location in real-time. For example, Backlinko LLC, a US-based SEO strategy and digital marketing firm, reported that the total amount of smartphone users in 2023 was 4.25 billion and this count escalated to 4.88 billion users in 2024 by March. Therefore, an increase in the usage of smartphones and GPS-enabled devices is propelling the location-based services market.
Who Are the Top Competitors in Key Location-Based Services Market Segments?
Major companies operating in the location-based services market include Apple Inc., Google LLC, AT&T Inc., Nippon Telegraph and Telephone Corporation Docomo, International Business Machines Corporation, Cisco Systems Inc., Qualcomm Incorporated, Oracle Corporation, Telefonaktiebolaget LM Ericsson, CommScope Holding Company Inc., Transfix Inc., INRIX Inc., CloudMade Inc., Bluedot Innovation Inc., Navenio Inc., AiRISTA Flow, ALCATEL-LUCENT Enterprise SAS, Flybits Inc., HERE Global B.V., InnerSpace Pty Ltd, Localz Inc., Mapsted Corporation, Quuppa Inc., Navigine GmbH, Resonai Inc., Seldon Technologies Ltd.
What Location-Based Services Market Trends Are Gaining Traction Across Different Segments?
In an attempt to maintain their dominance in the location-based services market, leading corporations are pioneering the creation of innovative products like highly accurate tracking tools. These devices represent cutting-edge technology made to reliably and precisely locate objects or people, capturing other pertinent data with a tremendous degree of accuracy. For example, in July 2023, Bad Elf LLC, an American computer hardware manufacturer, introduced the Bad Elf Flex Mini. This high-precision Bluetooth GNSS receiver, developed for geospatial professionals, offers different accuracy levels to accommodate diverse mapping requirements, even featuring an extreme mode supporting subfoot accuracy through RTK. The Flex Mini operates with multiple satellite constellations for worldwide coverage, connects to smartphones and tablets through Bluetooth, and boasts a durable design, a long-lasting battery, and a companion application for iOS and Android platforms. The aim of this product is to offer an affordable, user-friendly solution for gathering highly precise location data under challenging field conditions.
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Which Regions Are Becoming Hubs for Location-Based Services Market Innovation?
North America was the largest region in the location-based services market in 2024. Asia-Pacific was the second largest market in location-based services market. The regions covered in the location-based services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Location-Based Services Market?
2. What is the CAGR expected in the Location-Based Services Market?
3. What Are the Key Innovations Transforming the Location-Based Services Industry?
4. Which Region Is Leading the Location-Based Services Market?
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