Dublin, March 28, 2025 (GLOBE NEWSWIRE) -- The "Location-Based Services (LBS) - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Location-based Services (LBS) was valued at US$214.4 Billion in 2024 and is projected to reach US$738.6 Billion by 2030, growing at a CAGR of 22.9% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the LBS market is driven by several factors, including the proliferation of smartphones and connected devices, advancements in mobile internet technologies, and the increasing adoption of IoT. Enhanced GPS accuracy and the development of sophisticated mapping and geospatial analytics tools have also propelled the market forward. Consumer demand for personalized experiences and real-time information has led to greater acceptance and reliance on LBS applications. For instance, users increasingly expect their apps to provide location-specific content, from weather updates to local news.
Moreover, the rise of smart cities and smart infrastructure projects has expanded the application scope of LBS, integrating them into urban planning, traffic management, and public safety systems. Cities are deploying LBS to manage traffic flow, optimize public transportation, and ensure citizen safety during emergencies. Strategic partnerships and collaborations between tech companies and service providers are further accelerating innovation and deployment of LBS solutions. As data privacy concerns and regulatory frameworks evolve, companies are also focusing on developing secure and compliant LBS offerings to maintain consumer trust and ensure sustainable market growth. Ensuring that user data is handled securely and transparently is critical for the continued expansion and acceptance of LBS.
In the retail sector, LBS allows for highly targeted marketing strategies, enabling businesses to send personalized promotions and advertisements to customers based on their current or past locations. This form of hyperlocal marketing has proven effective in driving foot traffic to physical stores and increasing sales. Retailers can use geofencing to create virtual perimeters around specific locations, triggering promotional messages when potential customers enter these zones. In transportation and logistics, LBS aids in fleet management, route optimization, and real-time tracking of shipments, thereby enhancing operational efficiency and reducing costs.
For instance, logistics companies can monitor vehicle locations, improve delivery times, and manage fuel consumption more effectively. Healthcare applications of LBS include tracking the location of medical equipment, optimizing patient flow in hospitals, and providing location-based health alerts. Hospitals and clinics can utilize LBS to streamline operations, such as directing patients to the nearest available healthcare provider. Furthermore, the tourism industry benefits from LBS by offering tourists personalized recommendations, augmented reality experiences, and location-based tours, enriching their travel experiences. Tourists can receive information about nearby attractions, restaurants, and historical sites, enhancing their overall journey.
Location-based Services (LBS) have emerged as a transformative technology, revolutionizing various industries by providing precise geographic information to users based on their location. LBS encompass a wide range of services, including navigation and mapping, social networking, location-based advertising, and emergency assistance. This technology leverages GPS, Wi-Fi, and mobile network data to pinpoint a user's location, offering tailored services and information in real-time.
As smartphones and mobile internet penetration continue to grow, the adoption of LBS has seen a significant upsurge, providing users with convenient and contextually relevant experiences. Businesses across different sectors, such as retail, transportation, healthcare, and tourism, are increasingly integrating LBS into their operations to enhance customer engagement, optimize logistics, and improve service delivery. In addition to consumer applications, LBS are also being utilized in critical infrastructure management and urban planning, showcasing their broad utility and versatility.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as Apple, Inc., AT&T, Inc., Bharti Airtel Ltd., Cisco Systems, Inc., Google LLC and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Segments
- Component (Services, Platforms, Hardware)
- Location Type (Outdoor, Indoor)
- Application (Tracking & Navigation, Marketing & Advertisement, Location-Based Social Networks, Location-Based Health Monitoring, Other Applications)
- Vertical (Transportation & Logistics, Retail, Government, Manufacturing, Tourism & Hospitality, Healthcare & Life Sciences, Media & Entertainment, Other Verticals)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 313 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $214.4 Billion |
| Forecasted Market Value (USD) by 2030 | $738.6 Billion |
| Compound Annual Growth Rate | 22.9% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- Global Economic Update
- Location-based Services (LBS) - Global Key Competitors Percentage Market Share in 2025 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2025 (E)
MARKET TRENDS & DRIVERS
- Increasing Proliferation of Smartphones Throws the Spotlight on LBS Adoption
- Advances in GPS Technology Propel Growth of Location Accuracy
- Rise of IoT Expands Addressable Market Opportunity for LBS
- Increasing Mobile Internet Penetration Strengthens Business Case for LBS Integration
- Consumer Demand for Personalized Experiences Drives Adoption of LBS Applications
- Growth of Smart Cities Generates Opportunities for LBS Deployment
- Hyperlocal Marketing Strategies Spur Growth in Retail Sector
- Real-Time Tracking Solutions Sustain Growth in Transportation and Logistics
- Enhanced Geospatial Analytics Tools Accelerate Demand for Advanced LBS
- Improved Mapping Technologies Drive Adoption of Navigation Services
- Location-Based Advertising Expands Addressable Market Opportunity
- Emergence of Augmented Reality Experiences Strengthens Business Case for LBS in Tourism
- Health Alerts and Tracking Solutions Impact Healthcare Market
- Urban Planning and Traffic Management Generate Demand for LBS in Smart Infrastructure
- Evolution of Wearable Devices Throws the Spotlight on New LBS Applications
- Enhanced User Engagement in Social Networking Propels Growth in LBS Utilization
- Fleet Management Optimization Spurs Growth in Logistics Industry
FOCUS ON SELECT PLAYERS:Some of the 106 companies featured in this report include
- Apple, Inc.
- AT&T, Inc.
- Bharti Airtel Ltd.
- Cisco Systems, Inc.
- Google LLC
- IBM Corporation
- Microsoft Corporation
- Nokia Corporation
- Oracle Corporation
- Qualcomm Inc.
For more information about this report visit https://www.researchandmarkets.com/r/r2w2ug
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