Location-based Services Market to be Worth USD 129.71 Billion by 2032; Rising Usage of Location-based Technologies to Boost Market Growth

The global location-based services market size was valued at USD 26.22 billion in 2023. The market is projected to grow from USD 31.17 billion in 2024 to USD 129.71 billion by 2032, exhibiting a CAGR of 19.5% during 2024-2032.

Fortune Business Insights™ presents this information in its report titled, “Location-based Services Market Size, Share & COVID-19 Impact Analysis, By Technology (GPS, Assisted GPS (A-GPS), Enhanced GPS (E-GPS), Enhanced Observed Time Difference (E-OTD), Wi-Fi, Cellular ID, and Others), By Application (GIS and Mapping, Navigation and Tracking, Geo Marketing, and Advertising, Social Networking and Entertainment, Fleet Management and Others), By Location Type (Outdoor and Indoor), By End-Users (Transportation and Logistics, Manufacturing, Retail and Consumer Goods, Automotive, Healthcare, Government and Public, Aerospace and Defense, and Others), and Regional Forecast, 2024 – 2032”.

Location-based services identify users’ actual location using real-time geolocation data and IP addresses. The increasing use of connected devices, including tablets and smartphones, and the easy availability of GPS are driving the location-based services market growth during the forecast period.

Rising Demand for Wi-Fi-based Location Solutions During Pandemic Aided Market Growth

The COVID-19 pandemic positively affected the market growth. The increased demand for Wi-Fi-based location solutions during the pandemic propelled the market growth during the forecast period. The growth in Wi-Fi demand has shifted countries’ focus from responding to the COVID-19 pandemic to recovery.  

Maxar Technologies Received Direct Broadcast Satellite Requirement from DISH

In April 2023, Maxar Technologies received a direct broadcast satellite requirement from DISH. DISH handles the geostationary communications satellite and delivers high-quality content across North America. Such developments are set to drive the market growth for the service.

Rising Location-based Marketing to Boost Market Growth

Major market players’ increasing use of location-based marketing propels market growth during the forecast period. The key players use location analytics and intelligence to serve contextual advertising, location-based advertising, and social media posts based on their target audience footfall patterns to strengthen their market position.

However, high costs associated with the installation, deployment, and privacy is set to hamper the market growth.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/location-based-services-market-101060

Growing Merger & Acquisition Among Key Players to Drive Market Growth

The major market players operating in this market are increasing their focus on partnerships and mergers, and acquisitions to provide flexibility and secured services and solutions to strengthen their market position during the forecast period. The companies’ focus on acquiring small and local companies to expand their market presence.

Notable Industry Development

• June 2023: Location-based services provider Maxar Technologies revealed that its Precision3D data is accessible in the ESRI ArcGIS online. ESRI, a location intelligence company, has integrated the digital terrain model, the Maxar Precision3D digital surface model, and structures and agriculture vector data for ArcGIS users to view.

List of the Companies Profiled in the Report:

• HERE Technologies (The Netherlands)


• IndoorAtlas (Finland)


• Mapbox (U.S.)


• Esri (U.S.)


• Google LLC (U.S.)


• IBM Corporation (U.S.)


• Cisco Systems, Inc. (U.S.)


• Maxar Technologies (U.S.)


• ALE International (France)


• Qualcomm Technologies, Inc (U.S.)

Further Report Findings-

• North America held the largest location-based services market share in 2022. The growth is attributed to the rising smartphone penetration and increasing need for Internet of Things (IoT) technology in the region.


• Asia Pacific is estimated to witness significant growth during the forecast period due to the rising investments in technological and infrastructure capabilities across the region.


• The Middle East and Africa region is expected to hold a significant growth rate during the forecast period owing to the increasing expansion of innovation and data digitization across the region.

Table of Segmentation: