Press release
Location-Based Services Market Landscape 2025: Forecast Data and Growth Strategy Insights
Location-Based Services
How Large Will the Location-Based Services Market Size By 2025?
The market size of location-based services has experienced a massive growth over the past few years. A jump from $105.74 billion in 2024 to an expected $131.33 billion in 2025 is projected, marking a compound annual growth rate (CAGR) of 24.2%. Factors contributing to this growth during the historical period include a rise in smartphone usage, the integration of e-commerce and retail, increased mobile advertising, the use of transport and navigation apps, as well as the advent of the Internet of Things (IoT) and wearables.
How Big Is the Location-Based Services Market Size Expected to Grow by 2029?
The market size of location-based services is projected to experience significant expansion in the forthcoming years, increasing to $356.87 billion in 2029 with a compound annual growth rate (CAGR) of 28.4%. This growth during the forecasted period can be linked to several factors, such as the requirement for indoor location services, urban planning and smart cities, health applications and contact tracing, as well as improved location analytics. The forecast period is also characterised by several key trends, including mobile indoor navigation, the emergence of location-based gaming, integration with 5G networks, beacon technology, and proximity marketing, and applications for emergency and public safety.
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Which Key Market Drivers Powering Location-Based Services Market Expansion and Growth?
The increasing utilization of smartphones and devices equipped with GPS is predicted to fuel the expansion of location-based services. These services amalgamate the internet, geospatial technologies, and other informational and communicative technologies to render personalized information to individuals, centered on their geographical location, delivered real-time on their smartphones. For example, in March 2024, as reported by Backlinko LLC, an American SEO strategy and digital marketing firm, there was a significant rise in the smartphone user base from 4.25 billion in 2023 to 4.88 billion in 2024. As a result, the escalating use of smartphones and GPS-equipped devices is catalyzing the growth trajectory of the location-based services market.
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Which Fast-Growing Trends Are Poised to Disrupt the Location-Based Services Market?
Leading firms in the location-based services market are pushing the envelope by creating cutting-edge products like high precision tracking devices to stay competitive. These tracking devices are a product of advanced technology that is able to pinpoint the location, movement, and other significant information about objects or individuals with unparalleled accuracy. For example, in July 2023, Bad Elf LLC, an American computer hardware manufacturer, unveiled the Bad Elf Flex Mini. This high-precision Bluetooth GNSS receiver is targeted towards geospatial professionals and offers varying degrees of accuracy to cater to different mapping requirements, including an extreme mode for underfoot accuracy with RTK support. The device can tap into different satellite groups for worldwide coverage and uses Bluetooth to pair up with smartphones and tablets. It boasts a long battery life, a sturdy build, and a supplementary app for iOS and Android. The main goal of this product is to offer an affordable and easy-to-use solution for collecting high-precision location information in demanding field settings.
What Are the Emerging Segments in 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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Who Are the Global Leaders in the Location-Based Services Market?
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.
Which are the Top Profitable Regional Markets for the Location-Based Services Industry?
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.
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