Location-based Services Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Location-based Services Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : November, 2021 | Technology & Media

Report Digest


Global Location-based Services Market: Snapshot

The key to success for any business relies on two parameters. First the product the company is selling and second the service that company offers to its customers. The main business of a company is through services it offers which implies that the better the service better the revenue. Based on this principle, companies are looking new ways to improve its services domain to generate more profit. While following this trait, there is emergence of location-based services market. Here the businesses offer services based on the location of the customers making it easy for the consumer to avail this service. Looking the popularity of services that are offered on the basis of locations, the global location-based services market is expected to grow exponentially in the coming years.

How can Businesses Benefit from Location-Based Services in the Future?

A business can gain benefit from the location-based services in the following manner:

  • Better Reach to the Customer: With the services offered on the basis of location, companies can reach to a large pool of audience. This allows them to provide solutions that can uplift their business without hampering a nearby business. This advantage is also a major factor that is propelling the growth of global location-based services market.
  • Better Solution Drives More Profit: With the location know to the development team of the company can help the business to develop new solution specifically for the client in that location. This allows the businesses to showcase their expertise in the global location-based services market.

Location-based services form a part of a software application, which with the help of location information from IP-capable devices, track the location of a particular device. The increasing implementation of location-based search with social networking sites is providing a fillip to the global location-based services market. The growing inclination of smartphone manufacturers and location-based services providers towards the development of applications that combine location-enabled search with social networking websites to allow users to post their updates on social media with exact location information is boosting the popularity of these services.

From the geographical standpoint, developed regions are expected to be major revenue contributors throughout the forecast horizon. North America will command a substantial share in the global arena, thanks to the increasing adoption of advanced technologies such as geo-fencing and GPS. The rising usage of location-based services in multiple industries such as retail, healthcare, and defense is also contributing to the region. Moreover, the growing implementation of mobile media by enterprises is triggering the popularity of these services in the region.

Asia Pacific, on the other hand, will be offering tremendous lucrative opportunities for the market during the same period. The rapidly growing population and rising consumer inclination are driving the adoption of location-based services in the region. Besides this, the proliferation of smartphones and emergence of countries such as India, China, Japan, and South Korea as technology hubs are also supplementing the growth of the region.

Global Location-based Services Market: Overview

The global market for location-based services has witnessed a significant upswing in demand for new and improved services and solutions from government bodies, and industries such as defense, BFSI, healthcare, transportation, e-commerce and media and entertainment. With the constantly and rapidly rising number of cellular phones and a host of other wireless mobile computing devices such as tablets and personal digital assistants in the world, the user base of location-based services is also rapidly rising. Location-based or location-aware applications are becoming a norm in most web-enabled mobile devices and location-based services have come under the realm of everyday use entities for the global population. 

The rising consumer awareness about location-based services is encouraging companies to think of the myriad of possibilities that can be realized in terms of reaching out to consumers in innovative ways. Government bodies are using location-based services as a critical tool in implementing better safety measures for peoples and places; the defense industry is using location-based services to be better aware of a situation that calls for action; and the e-commerce industry is using these services to be more secure and accurate in transactions. 

A myriad of other applications of location-based services are presently realized across several industries and many more are increasingly coming to the fore. In the next few years, this rising set of applications will allow the global location-based services market growth at a promising pace. 

Global Location-based Services Market: Report’s Scope and Segmentation Criteria

This report on the global location-based services market presents a detailed overview of the market’s present growth dynamics and future growth prospects over the period between 2017 and 2025. The report encompasses vast qualitative and quantitative details, analysis, and predictions about the market’s key segments, trends, growth drivers, and opportunities, challenges, and attractiveness of segments or regional markets. 

The report segments the global location-based services market on the basis of criteria such as component, technology, application, end-use industry, and geography.

On the basis of technology, the report examines the market for location-based service technologies such as global positioning system (GPS), assisted GPS, Bluetooth, Wi-Fi, geofencing, and observed time difference. The key areas of application of location-based services analyzed in the report include mapping and navigation, emergency support, disaster management, and business analytics and intelligence. The key end-use industries utilizing location-based services include government, defense and aeronautics, retail, healthcare, agriculture, transportation, e-commerce, and media and entertainment. 

Global Location-based Services Market: Trends and Opportunities

Some of the key application areas of location-based services are social media networking, e-commerce transactions, entertainment, mapping and navigation, analytics, business intelligence, emergency support, and disaster management. Presently, applications across the defense and government sector account for a leading share in the global market’s revenue, a trend that is expected to remain strong over the report’s forecast period.

Nevertheless, with a massive consumer base, which continues to rise at a promising pace, the e-commerce industry is envisaged to emerge as one of the leading contributors to the global location-based services market in the near future. The market is also expected to benefit from rising demand across the food delivery and tourism industry. 

Global Location-based Services Market: Competitive Dynamics

Some of the world’s leading technology companies are enriching the global location-based services market through their futuristic location-based services solutions for outdoor as well as indoor applications. In the next few years, the highly competitive market is expected to witness the proliferation of an increasing number of regional and domestic IT companies wanting to exploit the vast growth opportunities offered by this area. 

Some of the leading technology companies operating in the global location-based services market are Apple, Inc., International Business Machines Corporation, Ltd., Bharti Airtel, LTD., Cisco Systems, Inc., Oracle Corporation, SAP SE, Alcatel-Lucent SA, Google Inc., Microsoft Corporation, and AT&T Inc.

The reports at TMR Research provide qualitative solutions that break the barriers of doubt or uncertainties when the stakeholders plan to expand their growth reach. The researchers compile the necessary information that enlightens the CXOs about the current growth opportunities in a specific market and enables them to make the most of the opportunities.

TMR Research is a leader in developing well-researched reports. The expertise of the researchers at TMR Research makes the report stand out from others. TMR Research reports help the stakeholders and CXOs make impactful decisions through a unique blend of innovation and analytical thinking. The use of innovation and analytical thinking while structuring a report assures complete and ideal information of the current status of the market to the stakeholders.

TMR Research has rich experience in developing state-of-the-art reports for a wide array of markets and sectors. The brilliance of the experts at TMR Research and their alacrity to conduct thorough research and create phenomenal reports makes TMR Research better than others.

5-Point Growth Formula

The 5-point growth formula developed by TMR Research provides an insight to the stakeholders and CXOs about the current situation in the market. The growth formula makes the report a perfect companion for the stakeholders and CXOs.

The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

Along with studying the opportunities necessary for growth, threats are also an important aspect to look upon for the companies and stakeholders in a specific sector. TMR Research studies every negative aspect that will hinder the growth of a specific area of business and includes it in the report. The stakeholders and CXOs will have the benefit of assessing the threat and take the necessary steps to prevent the hindrance caused due to the threats.

Accurate Trend Analysis

Keeping up with the latest trends is crucial in any business or sector. While stakeholders are aware of the trends that are on the surface, TMR Researchers find trends that are deeply entrenched in the particular market or sector. The reports are constantly updated with the latest trends so that the stakeholders and CXOs can derive benefits from the trends and generate good revenues.

Regional Assessment

Demography forms an important part of the growth pattern of all the markets. Diving deep into the demographics enables maximum output from specific areas. The TMR Research team assesses every region and picks out the vital points that have a large impact on the growth of a market.

Industrial Analogy

The analysts at TMR Research conduct an all-round analysis on the competitive landscape of the market. The observations recorded by the analysts are added to the reports so that every stakeholder gets a glimpse of the competitive scenario and frame their business plans according to the situation.

COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?