Global Location Based Services Market Size, Share, Growth Analysis, By Component(Platform, Services), By Location Type(Indoor, Outdoor), By Application(GIS, Navigation), By Vertical(Logistics, Retail) - Industry Forecast 2022-2028
全球位置服務市場規模將在 2021 年達到 454 億美元，在預測期間（2023-2030 年）以 24.6% 的複合年增長率增長，從 2022 年的 565.7 億美元到 2030 年預計將達到 4094.8 億美元2018.
Global Location Based Services Market size was valued at USD 45.4 billion in 2021 and is poised to grow from USD 56.57 billion in 2022 to USD 409.48 billion by 2030, growing at a CAGR of 24.6% in the forecast period (2023-2030).
A category of services known as a location-based service (LBS) allow users to access location-specific data and other internet services. These functions include asset tracking, proximity marketing, local search and information, social networking and entertainment, and mapping and navigation. Location-based services provide real-time geo-data from a range of smart devices, such as smartphones, in order to deliver information, entertainment, or security. One of the main factors driving the location based services market's rise is the high usage of smart devices like sensors, IoT, and others. Due to its many benefits, the market for location-based services is expanding.
Location-based services (LBS) have grown in popularity over the past few years. An increasing number of people use it to locate friends nearby, locate the closest restaurant, or promote deals to neighbourhood residents. LBS gives users access to current and important information about their surroundings while enabling businesses to keep customers updated about their orders. Each of these LBS applications offers a dynamic user experience, giving businesses a useful channel for client interaction.
Location can be determined using wireless-assisted GNSS (A-GNSS), observed timing difference of arrival (OTDOA), observed time difference of arrival (E-OTD), and hybrid technologies, which combine A-GNSS with other well-known technologies. Location-based services can give commuters and anyone looking for services a more accurate location and an anticipated arrival time in real time by following the movement of cars. Due to the significant efforts made by countries throughout the world to achieve smooth transportation goals as part of their smart city initiatives, this market is anticipated to grow significantly. More possibilities would result from these shifts, particularly in the Latin American and Asian-Pacific regions. growing the market for location-based services globally.
Furthermore, due to the large continuous investments for the integration of 3D map apps with smartphones, industry heavyweights like Nokia, Samsung, and other OEMs are entering this sector. Microsoft Corp. and Amazon Inc. are just a couple of the online web service providers who have started to offer 3D maps on their systems. For instance, the renowned manufacturer of wireless smartphone accessories Parrot has positioned its consumer drones for use in 3D modelling, mapping, and agricultural. These events are expected to increase market demand in emerging economies during the course of the predicted period.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global location based services Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
For better understanding, we have segmented the global location based services market by component, location type, application, vertical and region. Based on component, the Location Based Services Market is segmented into platform, services and hardware. Based on location type, the Location Based Services Market is segmented into indoor and outdoor. Based on application, the Location Based Services Market is segmented into GIS, navigation, tracking, social media. Based on vertical, the Location Based Services Market is segmented into logistics, retail, healthcare, media, defence, and others. Based on region, the Location Based Services Market is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Smart phones, social media, and the ease of access to GPS technology are all expected to spur industry growth.
The increasing use of smartphones and other wireless devices is one of the main drivers behind the growth of the global market for location-based services. Another reason that is projected to support the expansion of the location-based services business is the popularity of location-based check-in applications, advancements in communication technology's analytic capabilities, and the affordability of GPS-mounted devices. Additional factors driving the growth of the global location-based services market include the rising use of social media, mobile networking, and the Internet of Things (IoT), as well as communications advancements and ongoing research and development in 4G and 5G technologies in economically developing regions.
The growth of location-based technologies is anticipated to increase demand for location-based services across industries.
Due to the ongoing need for location-based applications in e-commerce, food delivery, tourism, and social networking applications, the global market for location-based services is anticipated to have significant growth potential. Retailers can use location-based services (LBS), which also offer quick access to information about products or services, to determine consumer preferences. Retailers, for instance, may plan their advertising campaigns based on consumer geography to focus on the closest store or local deals. Retailers will profit from this because it will allow them to increase income and offer their clients personalised goods and services.
In the automotive sector, highly functioning location-based services are becoming more common. LBS assist truck and vehicle drivers in choosing the best route, reducing idle time and increasing efficiency. Automakers make careful to provide their customers with value-added services such vehicle telematics, navigation, emergency services, asset tracking, traffic services, and emergency services, to name just a few.
High prices could impede the market's expansion for location-based services.
When it comes to location-based service pricing, all players in the mobile ecosystem-including consumers, advertisers, marketing suppliers, and advertising service agencies-face considerable difficulties. The cost structures of voice and data services, including apps, are quite dissimilar. While open-ended pricing models are utilised for data services, network operators frequently use per-minute and flat rate pricing structures for voice services. clients have not been pleased with the present way of billing clients based on airtime and data usage. Future high-speed networks (4G and higher), with their clear and enticing pricing systems, may create new industry opportunities. Content providers must make challenging price choices if they want to profit from promotions and location-based advertising that will bring customers to a storefront. How much consumers are willing to pay for LBS and the most effective technique to tempt them with promotional offers and bundled services in a mobile environment have not yet been put to the test. Prices will have a big influence on the adoption of location-based services and the resulting consumer demand. Customers want these services to be simple, open, and worthwhile of the money they pay for them.
The extent to which network operators secure their users' privacy will impact how broadly location-based services are used. Some consumers dislike marketing attempts that breach their privacy, and unwanted mobile advertising is commonly seen as intrusive. Location-based service providers must be aware of the fine line that must be drawn between personalization and resolving privacy concerns. In order to provide tailored context-specific location-based services, customer data should be collected and processed. However, while handling consumer personal data, appropriate management and security procedures should be put in place. Mobile devices can be configured to a great extent, which creates many opportunities for personalised location-based services that can be requested as needed. With the introduction of these services, customer privacy protection will be essential.
Mobile services that use location are becoming more common. A smart phone and data plan enable access to a location-based service. Social networking, local search and information services, navigation, and entertainment are common subcategories. The biggest social networks are rapidly growing on the mobile web. Vendors have been encouraged to support the explosive growth of mobile applications, particularly location-aware apps, thanks to improved 3G networks, increased 3G handset usage, and the popularity of smart phones. Application stores provide an extra entry point into the market for location-based services. While many operator navigation services are anticipated to continue being supported by service fees and tracking services, local search and social networking services will be ad-supported. Compared to premium mobile sources, mobile advertising is still a fragmented sector with low revenues. As a result, for some firms, geography can be a key target marketing trait.