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The global location-based services market size was valued at USD 22.16 billion in 2022. The market is projected to grow from USD 26.22 billion in 2023 to USD 95.66 billion by 2030, exhibiting a CAGR of 20.3% during 2023-2030.
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, 2023 – 2030”.
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.
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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
List of the Companies Profiled in the Report:
Further Report Findings-
Table of Segmentation:
CAGR of 20.3% from 2023 to 2030
Value (USD Billion)
By Technology, Application, Location Type, End-Users, and Region
By Location Type