Location-based Services Market size was valued at USD 30.49 billion in 2024 and is expected to cross USD 302.33 billion by the end of 2037, registering more than 19.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of location-based services is estimated at USD 35.2 billion. It is anticipated that the increasing usage of linked devices, including tablets and smartphones, and the widespread accessibility of GPS will propel market expansion. As of 2024, there are 6.93 billion smartphone users worldwide, or 85.68% of the global population, who own a smartphone.
In addition, as a result of the substantial ongoing expenditures made in the integration of 3D mapping applications with smartphones, manufacturers like Samsung, Nokia, and others are joining the market. Online service providers have also begun to offer 3D maps on their platforms, including Microsoft Corp. and Amazon Inc. For example, Parrot, a well-known manufacturer of wireless products for cell phones, has positioned their consumer drones for use in mapping, 3D modeling, and agriculture. Throughout the projection period, these occurrences are anticipated to fuel location-based services market demand throughout rising economies.
Growth Drivers
Challenges
Base Year |
2024 |
Forecast Year |
2025-2037 |
CAGR |
19.3% |
Base Year Market Size (2024) |
USD 30.49 billion |
Forecast Year Market Size (2037) |
USD 302.33 billion |
Regional Scope |
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Location Type (Indoor, Outdoor)
Based on location, the outdoor segment in the location-based services market is expected to hold the largest revenue share of about 60% during the forecast period. Using technologies like GPS, satellites, infrared-based remote sensing, and other positioning techniques, coupled with styled mapping to support navigation services, outdoor positioning entails identifying information, objects, or people in open areas. This technology is used to follow individuals or things across great distances from a certain point. GNSS, cellular networks, and wireless networks are important outside positioning technologies. GPS is the most popular GNSS on mobile devices. Most poll participants rely on a GPS device to navigate around. 93% of respondents to the study claimed to be dependent on their GPS, and 1 in 5 stated they used it daily. Numerous location methods that rely on differential, aided, and high-accuracy GPS chips have been created. Geomarketing and advertising, asset tracking, personal tracking, customer location tracking, fleet tracking, freight management, route optimization, and planning, mapping discovery, and infotainment, geographic event alerts, and defense management are the main outdoor Location-based Services (LBS) applications.
Technology (GPS, Assisted GPS, Enhanced GPS, Enhanced Observed Time Difference, Observed Time Difference, Cell ID, Wi-Fi)
Based on technology, the wi-fi segment is expected to hold 30% share of the global location-based services market during the forecast period. The technology's convenience and ease of use are credited with the segment's rise. Wi-Fi location-based services use a variety of methods to pinpoint a location, from the client device to the access point. Furthermore, the market for Wi-Fi-enabled location technologies is being driven by the introduction of new products. For example, the consumer electronics company Coolpad and the top mobile location technology provider Skyhook Wireless worked together in February 2022 to integrate hybrid Wi-Fi location services and emergency alert software into Coolpad's upcoming feature phone.
Our in-depth analysis of the global location-based services market includes the following segments:
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Service Type |
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Technology |
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Location Type |
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Application |
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Industry Vertical |
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APAC Market Forecast
Location-based services market in Asia Pacific is predicted to hold the largest market share of about 30% during the forecast period. Due to the country's notable position in both the regional and global markets, as well as the notable growth in investments made in building infrastructure and technological capabilities, as well as the widespread use of mobile and internet technology, China is not only a major market for LBS in the region but also globally. As of June, of last year, the 50th China Statistical Report on Internet Development reported that there were 1,051 million internet users in the nation, with an impressive internet penetration rate of 74.4% given the country's population. Considering how many individuals in the nation have access to the internet and how many are purchasing smartphones, location-based businesses ought to have a lot of chances.
North American Market Statistics
Location-based services market in the North American region is projected to hold second second-largest market share of about 28% during the projected period. The growth of the market is due to the region's growing IoT technology and the adoption of smartphones. This rise in demand is the result of the desire for more individualized experiences, improved security protocols, and efficient operational procedures in several industries, including retail, healthcare, and logistics. Additionally, businesses are moving quickly to increase the region's use of location services.
Author Credits: Abhishek Verma
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