Location Based Services Market Reach USD 235,062.8 Million by 2034 Growing at 12.6% CAGR

Allied Market Research published a new report, titled, "Location Based Services Market Reach USD 235,062.8 Million by 2034 Growing at 12.6% CAGR." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain a thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global location-based services market was size was valued at USD 70,357.3 million in 2024, and is projected to reach USD 235,062.8 million by 2034, growing at a CAGR of 12.6% from 2025 to 2034.

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Driving Factors

The upsurge in the integration of LBS with Augmented Reality (AR) and AI for personalized and context-aware experiences is anticipated to open new avenues for innovation and drive further expansion of the LBS market size. Moreover, the increase in the demand for real-time location analytics across industries such as retail, transportation, and healthcare, enabling businesses to enhance operational efficiency, improve customer engagement, and deliver more targeted services, is expected to provide lucrative opportunities for growth in the location based services industry, further boosting the location based services market size.

Market Segmentation

The location-based services market is segmented into component, technology, application, industry vertical, and region. On the basis of component, the market is classified into software and services. By technology, the market is segregated into GPS, Cell ID, Wi-Fi, and others. As per application, the market is fragmented into mapping and navigation, business intelligence and analytics, fleet management, location-based advertising, social networking and entertainment, asset tracking, and others. Depending on industry vertical, the market is segmented into transportation and logistics, manufacturing, government and public utilities, retail, healthcare and life sciences, media and entertainment, IT and telecom, BFSI, hospitality, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Key Players

The key players profiled in the LBS market are AT&T Inc., Microsoft Corporation, Google LLC, IBM Corporation, Apple, Inc., Qualcomm Technologies, Inc., Oracle Corporation, ALE International, HERE, ROHDE & SCHWARZ GmbH & Co. KG, Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Bharti Airtel Limited, Esri, Intellias, and Foursquare. These players have adopted various strategies to strengthen their position in the LBS industry.

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By region, Asia-Pacific dominated the market share in 2024 for the location based services market. This is due to the increase in the adoption of smartphones in countries such as China and India, driven by the rise in demand for location based services applications, including navigation, social networking, and location-based advertising, contributing significantly to the region's market growth. However, LAMEA is expected to experience the fastest growth during the forecast period, driven by factors such as the growth of e-commerce fueling the demand for LBS, enabling businesses to offer location-based promotions, optimize delivery logistics, and enhance customer experience.

On the basis of technology, the global location based services market share was dominated by the GPS segment in 2024 and is expected to maintain its dominance in the upcoming years, owing to the integration of location based services with emerging technologies such as IoT, AI, and 5G technologies, enhancing real-time data processing and user experience. In addition, there is a growing trend in the development of infrastructures such as malls and airports, which has led to the growing demand for indoor navigation solutions. However, the Wi-Fi segment is expected to experience the highest growth during the location based services market forecast period. This segment is experiencing increasing penetration of smartphones, along with ubiquity of Wi-Fi networks in urban areas, and increase in use of location based advertising, leading to increased adoption of this technology.

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Recent Developments in the Location Based Services Market

In January 2025, Apple partnered with Tech Mahindra to enhance its Apple Maps service in India by improving the "Look Around" feature, which provides 360-degree panoramic street views. This collaboration involves large-scale ground surveys using both vehicular and portable systems to collect high-quality map data across various states. The initiative aims to ensure precise and up-to-date mapping information while complying with Indian geospatial regulations, strengthening the LBS Industry in the region.

In October 2024, Sensitech partnered with Qualcomm Technologies, Inc. to advance real-time monitoring solutions for the cold chain industry. This partnership leverages Qualcomm's Aware Platform to enhance Sensitech's product suite with advanced global location precision and reliability. The collaboration aims to improve real-time visibility, connectivity, and energy efficiency in supply chains, ensuring that perishable goods like food and medications reach their destinations safely. This initiative is part of a broader effort to make supply chains more connected, automated, and sustainable.

In September 2024, IBM launched its IBM TRIRIGA Application Suite v11.6 introduces key enhancements to improve real estate and facility management. The new AI-powered Maximo Monitor offers real-time insights into occupancy, energy, and asset data for better decision-making. Additionally, TRIRIGA Location Service for Esri integrates with ArcGIS on Kubernetes, enabling advanced indoor mapping, wayfinding, and outdoor GIS visualization to enhance space utilization and portfolio analysis.

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