Global Location-Based Services (LBS) Industry: Key Statistics and Insights in 2024-2032
Summary:
- The global location-based services (LBS) market size reached USD 40.0 Billion in 2023.
- The market is expected to reach USD 164.6 Billion by 2032, exhibiting a growth rate (CAGR) of 16.7% during 2024-2032.
- Asia Pacific leads the market, accounting for the largest location-based services (LBS) market share.
- Hardware accounts for the majority of the market share in the component segment.
- Assisted GPS (A-GPS) holds the largest share in the location-based services (LBS) industry owing toits ability to enhance location accuracy and speed in challenging environments.
- Outdoor remains a dominant segment in the market, driven by the widespread use of LBS in open environments like travel, mapping, and logistics.
- Navigation services represent the leading application segment.
- Transportation and logistics dominate the market.
- The increasing use of LBS in healthcare is a primary driver of the location-based services (LBS) market.
- The growing adoption of smartphones and mobile devices and the rise of smart cities and urban planning are reshaping the location-based services (LBS) market.
Industry Trends and Drivers:
- Growing adoption of smartphones and mobile devices:
Modern smartphones are equipped with built-in global positioning system (GPS) and advanced location-tracking technologies, which allow users to easily access various location-based services (LBS) applications like maps, ride-sharing services, location-based gaming, and social media. Businesses are leveraging this widespread use to offer location-based promotions, loyalty programs, and personalized content, which is enhancing user engagement. The integration of LBS in mobile apps, ranging from e-commerce to food delivery, is becoming essential for providing a seamless user experience. The rising mobile penetration is driving the demand for LBS solutions, as users expecting precise and real-time services that improve both personal convenience and business operations.
- Increasing use of LBS in healthcare:
The growing incorporation of LBS in healthcare to enhance patient care and improve operational efficiency is offering a favorable market outlook. Hospitals and clinics are using LBS for real-time tracking of medical equipment, managing patient flow, and even monitoring staff movements. Mobile health applications equipped with LBS allow healthcare providers to track the location of patients in case of emergencies, ensuring faster response times. Additionally, telemedicine platforms are using location data to connect patients with nearby healthcare professionals for consultations and medical services. The adoption of LBS in healthcare is also aiding in the management of public health initiatives, such as tracking disease outbreaks and optimizing vaccine distribution.
- Rise of smart cities and urban planning:
The development of smart cities is driving the demand for advanced location-based services as governments and urban planners look to create more efficient and sustainable urban environments. LBS is being used to manage traffic flow, optimize public transportation routes, and monitor air quality in real time. These services also enable cities to implement smart infrastructure solutions, such as automated street lighting and intelligent waste management systems, which rely on location data to operate effectively. Additionally, LBS is playing a critical role in enhancing public safety by providing real-time alerts and tracking the response time of emergency services. Many cities are adopting smart technologies, which is driving the need for accurate and reliable LBS.
Request PDF Sample for more detailed market insights: https://www.imarcgroup.com/location-based-services-market/requestsample
Location-Based Services (LBS) Market Report Segmentation:
Breakup By Component:
- Hardware
- Software
- Services
Hardware exhibits a clear dominance in the market, driven by the essential role of devices like GPS receivers and sensors in enabling LBS functionalities.
Breakup By Technology:
- GPS
- Assisted GPS (A-GPS)
- Enhanced GPS (E-GPS)
- Enhanced Observed Time Difference (E-OTD)
- Observed Time Difference
- Cell ID
- Wi-Fi
- Others
Assisted GPS (A-GPS) represents the largest segment accredited to its ability to enhance location accuracy and speed in challenging environments.
Breakup By Location Type:
- Indoor
- Outdoor
Outdoor holds the biggest market share owing to the widespread use of LBS in open environments, such as travel, mapping, and logistics.
Breakup By Application:
- Emergency Services
- Tracking Services
- Navigation Services
- Social Media Services
- Information Services
- Gaming and Entertainment Services
- Advertising and Promotion Services
- Others
Navigation services account for the majority of the market share attributed to the increasing reliance on real-time location guidance in various industries.
Breakup By End User:
- Banking, Financial Services, and Insurance (BFSI)
- IT and Telecom
- Retail
- Transportation and Logistics
- Government
- Healthcare and Life Services
- Manufacturing
- Others
Transportation and logistics represent the largest segment, as these sectors heavily depend on LBS for route optimization and fleet management.
Breakup By Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia Pacific dominates the market due to the growing adoption of smartphones and advancements in regional infrastructure.
Top Location-Based Services (LBS) Market Leaders:
The location-based services (LBS) market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:
- ALE International SAS (China Huaxin Post and Telecom Technologies Co., Limited)
- Apple Inc.
- Creativity Software Ltd (SS8 Networks Inc.)
- Esri India Technologies Private Limited
- GL Communications Inc.
- Google LLC (Alphabet Inc.)
- HERE Technologies
- Intel Corporation
- International Business Machines Corporation
- Microsoft Corporation
- Oracle Corporation
- Qualcomm Incorporated
- Teldio Corporation
- Zebra Technologies Corporation
Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145
