According to the report, the global Location-Based Service Market size was valued at USD 55.58 Billion in 2022 and is projected to reach USD 368.76 Billion by 2031, growing at a CAGR of 23.4% during the forecast period (2023–2031).
Location-Based Service Market Analysis, Size, Share, Growth, Trends, and Opportunities -
Location-Based Service Market Size
Straits Research has published its latest report on the Location-Based Service Market, providing a comprehensive analysis of the industry's growth prospects, key drivers, and trends. According to the report, the global Location-Based Service Market size was valued at USD 55.58 Billion in 2022 and is projected to reach USD 368.76 Billion by 2031, growing at a CAGR of 23.4% during the forecast period (2023–2031).
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Drivers in the Location-Based Service Market
The increasing demand for location-based services in various industries, such as transportation, logistics, and retail, is driving the growth of the market. Additionally, the proliferation of smartphones and the development of advanced location-based technologies, such as GPS, Wi-Fi, and cellular networks, are also contributing to the market's growth.
Key Developments in the Location-Based Service Market
The report highlights several key developments in the Location-Based Service Market, including:
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The increasing adoption of location-based services in the transportation and logistics industry to improve fleet management and logistics operations.
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The growing demand for location-based services in the retail industry to enhance customer experience and improve marketing efforts.
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The development of new location-based technologies, such as indoor positioning systems and location-based analytics.
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Top Key Players in the Location-Based Service Market
The report profiles several top key players in the Location-Based Service Market, including:
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ALCATEL-LUCENT
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APPLE INC.
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AT&T Inc.
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Bharti Airtel Limited
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Cisco Systems, Inc.
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Google LLC
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HERE
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International Business Machines Corporation
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Microsoft Corporation
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Oracle Corporation
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Qualcomm Technologies, Inc.
Segmentation Analysis of the Location-Based Service Market
The report provides a detailed segmentation analysis of the Location-Based Service Market, including:
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By Component: Hardware, Software, and Services
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By Technology: GPS, Assisted GPS (A-GPS), Enhanced GPS (E-GPS), Enhances Observed Time Difference (E-OTD), Observed Time Difference, Cell ID, and Wi-Fi
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By Application: Location-Based Advertising, Business Intelligence & Analytics, Fleet Management, Mapping And Navigation, Local Search & Information, Social Networking & Entertainment, Proximity Marketing, and Asset Tracking
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By End Users: Transportation & Logistics, Manufacturing, Government & Public Utilities, Retail, Healthcare & Life Sciences, Media & Entertainment, IT & Telecom, BFSI, and Hospitality
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About Straits Research
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Address: 825 3rd Avenue, New York, NY, USA, 10022
Phone: +1 646 905 0080 (US), +91 8087085354 (India), +44 203 695 0070 (UK)
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