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Location-Based Services Global market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
The Business Research Company's Location-Based Services Global Market Report 2024 – Market Size, Trends, And Market Forecast 2024-2033
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The location-based services market size has grown exponentially in recent years. It will grow from $86.02 billion in 2023 to $107.86 billion in 2024 at a CAGR of 25.4%. The growth in the historic period can be attributed to increasing smartphone penetration, e-commerce integration, and the rise of IoT.
What Is the Projected Market Size of the Global Location-Based Services Market and Its Growth Rate?
The market size is anticipated to grow to $275.4 billion in 2028 at a CAGR of 26.4%. This growth is driven by the demand for indoor location services and smart city planning. Key trends include proximity marketing and the rise of location-based gaming.
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What are the Key Drivers Fueling Growth in the Location-Based Services Market?
The rise in smartphone and GPS-enabled device usage is expected to enhance the market. These services provide targeted information based on geographic location. In India, smartphone users are projected to reach 829 million, supporting the growth of this market.
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Who Are the Key Players Driving Growth in the Location-Based Services Market?
Major companies operating in the market report are Apple Inc., Google LLC, AT&T Inc., Nippon Telegraph and Telephone Corporation Docomo, Intel Corporation, 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., pureLiFi Ltd., Kinetica DB LLC, 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 Are The Emerging Trends Shaping The Growth Of The Location-Based Services Market?
Location-based services are advancing through the development of high-precision tracking devices. In July 2023, Bad Elf LLC released the Bad Elf Flex Mini, a Bluetooth GNSS receiver designed for geospatial professionals. This device offers high accuracy and supports multiple satellite constellations, making it suitable for challenging field conditions.
What Are the Segments of the Global 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
Geographic Overview: North America at the Helm of the Location-Based Services Market
North America was the largest region in the market in 2023. Asia-Pacific was the second largest market in market. The regions covered in the market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Understanding the Definition of the Location-Based Services Market
Location-based services (LBS) are mobile services that provide information based on the user's geographical location, commonly used for navigation, local advertisements, and security alerts.
The Location-Based Services Global Market Report 2024 from The Business Research Company includes the following key information:
.Market size data for both historical and future periods
.Analysis of both macro and microeconomic factors that have impacted the market over the past five years
.Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
.Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Location-Based Services Market Report: Trends, Opportunities, Strategies, and More
The Location-Based Services Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into location-based services market size, location-based services market drivers and trends, location-based services market major players, location-based services competitors' revenues, location-based services market positioning, and location-based services market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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The Business Research Company
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