Location Based Services Market by Component (Software, Services and Hardware), by Technology (GPS, Assisted GPS (A-GPS), Enhanced GPS (E-GPS), Enhanced Observed Time Difference, Observed Time Difference, Cell ID, Wi-Fi, and Others), by Application (Location-based Advertising, Business Intelligence & Analytics, Fleet Management, Mapping and Navigation, Local Search & Information, Social Networking & Entertainment, Proximity Marketing, Asset Tracking, and Others), by Industry Vertical (Transportation & Logistics, Manufacturing, Government & Public Utilities, Retail, Healthcare & Life Sciences, Media & Entertainment, IT & Telecom, BFSI, Hospitality, and Others) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Market Definition:

The Global Location Based Services Market size was valued at USD 30.10 billion in 2019 and is predicted to reach USD 410.09 billion by 2030, with a CAGR of 26.8% from 2020-2030.

Location Based Services are navigating systems that utilize geographical data information to locate personnel, place, or assets. Location based services are majorly navigation software services, location-based advertising services, social networking services, weather services, online & mobile commercialization services, indoor navigating tools, and tracking systems.

LBS provides spatial patterns and real-time insights of the data linked to specific locations, thereby providing critical services to the government authorities, BFSI sector, healthcare facilities, transportation, Logistics, and other end users.

Market Dynamics and Trends

The global Location Based Services market is on a spur, and is expected to witness an escalation in coming future, due to growing adoption of LBS systems, increasing digitization, growing penetration of IoT, AI & API technologies, and most importantly real-time data interpretations provided by LBS systems.

Furthermore, factors such as development of cost-effective GPS navigating systems, increasing usage of 3G & 4G technologies, higher adoption of smartphones, upsurge in development of contact tracing APIs, augmentation in mobile commerce as well as increasing influence of social networking & entertainment industry, are expected to propel the growth of global location based services market in coming future.

However, increasing incidences of fraudulent and cybercrimes related to LBS services, as well as rising security and privacy concerns among consumers, are likely to inhibit the growth of location based services market during the forecast period.

Moreover, increasing adoption of LBS by government authorities specifically for public protection, growing demand from autonomous vehicles industry, increasing inclination towards 5G technology for LBS, advancement of telecommunication infrastructures, and launch of innovative products by market players to sustain a higher position in the highly competitive location based services market, are paving the way for several profitable opportunities in the coming future.

Market Segmentations and Scope of the Study:

The global location based services market share has been analyzed on the basis of component, technology, application, industry vertical and geography.

Based on component, the Location Based Services market is segmented into hardware, services, and software. Based on technology, the market is classified into GPS, Assisted GPS (A-GPS), Enhanced GPS (E-GPS), Enhanced Observed Time Difference, Observed Time Difference, Cell ID, Wi-Fi, and others. Based on application, the Location Based Services market is categorized into Location-based advertising, business intelligence & analytics, fleet management, mapping and navigation, local search & information, social networking & entertainment, proximity marketing, asset tracking, and others. Based on industry vertical, the Location Based Services market is divided into manufacturing, transportation & Logistics, retail, government & public utilities, media & entertainment, healthcare & life sciences, BFSI, hospitality, IT & Telecom, and others. Geographic breakdown and analysis of each of the previously mentioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America dominated the global location based services market, and is expected to maintain its dominance throughout the forecast period, accounting for the highest market share. This is attributed to factors such as presence of well-establish networking, telecommunication industry, and IT infrastructures, development of advanced product technologies as well as higher adoption of LBS system in this region.

Asia Pacific represents a substantial market growth in the global location based services market, and is expected to grow with the highest CAGR values throughout the forecast period. The major factors driving the location based services market in this region are, wide range of applications of LBS system in different industry verticals, increasing inclination towards geo-marketing, and growing demand of LBS from the regulatory bodies.

Competitive Landscape

The location based services market, which is highly competitive, consists of various market players. Some of the major market players include Alcatel-Lucent SA, Bharti Airtel, LTD., Apple, Inc., Microsoft Corporation, AT&T Inc., Qualcomm Inc., Google Inc., Cisco Systems, Inc., Oracle Corporation, International Business Machines Corporation, and HERE, among others. To fight against the COVID-19 pandemic, the market players are undergoing various business strategies for the development and deployment of new technologies in the location based services market.

For instance, in April 2020, the major giants of location based services market, Apple Inc., and Google Inc., entered a partnership, for developing ‘COVID-19 contact tracing technology,’ contributing their part in combating the COVID-19 pandemic. Apple and Google plans at launching APIs and operating system-level technology to assist in enabling contact tracing, thereby serving government as well as health agencies in reducing the spread of novel corona virus.

In April 2020, Microsoft Corporation, the leading company in location based services market, announced that it has released new features on the Bing COVID-19 tracker to track novel corona virus infections across the globe and in India at hyperlocal level. Integrated with Apollo Healthcare bot for self-assessment, the tracker offers online telemedicine support and critical information that is available in nine Indian languages.

In the same month, Alcatel-Lucent Enterprise, one of the major key players in the location based services market, launched its ‘OmniAccess Stellar’ an end-to-end asset tracking solution that can immediately locate critical equipment and personnel with meter-level accuracy.

KEY BENEFITS

• The location based services market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the location based services market trend including the current and future trends for depicting the prevalent investment pockets in the market.

• The report provides detailed information related to key drivers, restraints, opportunities, and their impact on the location based services market.

• The report incorporates competitive analysis of the market players along with their market share in the global location based services market.

• The SWOT analysis and Porters Five Forces model is elaborated in the study of location based services market.

• Value chain analysis in the location based services market study provides a clear picture of the stakeholders’ roles.

KEY MARKET SEGMENTS:

By Product

• Software

• Service

• Hardware

By Technology

• GPS

• Assisted GPS (A-GPS)

• Enhanced GPS (E-GPS)

• Enhanced Observed Time Difference 

• Observed Time Difference 

• Cell ID

• Wi-Fi

• Others 

By Application

• Location-based Advertising

• Business Intelligence & Analytics

• Fleet Management

• Mapping and Navigation

• Local Search & Information

• Social Networking & Entertainment

• Proximity Marketing

• Asset Tracking

• Others

By Industry Vertical

• Transportation & Logistics

• Manufacturing

• Government & Public Utilities

• Retail

• Healthcare & Life Sciences

• Media & Entertainment

• IT & Telecom

• BFSI

• Hospitality

• Others

By Geography

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • Australia

  • Rest of Asia-Pacific

• RoW

  • UAE

  • Saudi Arabia

  • South Africa

  • Brazil

  • Remaining Countries

REPORT SCOPE AND SEGMENTATION:

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