Location as a Service Market
Global Location as a Service Market size was valued at USD 1.74 Billion in 2021, and is projected to reach USD 7.84 Billion by 2028, growing at a CAGR of 24% from 2022 to 2028.
Location as a Service refers to computer or mobile applications that deliver information depending on the device’s and the user’s location, primarily via mobile portable devices such as smartphones and mobile networks. The accuracy of location services is mostly determined by the technology and software used in mobile communication systems, as well as the positioning server. It is increasingly being used to find acquaintances in an area, find the nearest restaurant, or advertise offers to local shoppers. Location as a Service provides consumers with useful and up-to-date information about their surroundings and enables businesses to keep their customers informed about their orders. All these Location as a Service applications offer a dynamic user experience, providing a convenient method for the interaction of business enterprises with customers.
Top Key Players Covered In Location as a Service Market
Cisco Systems,Google Inc., Ericsson, IBM Corp., Qualcomm, Location Labs, LocationSmart,
Microsoft Corp., Oracle Corp., Esri, Accelerite and other major players.
The Location Based Services market research also provides information on the sales growth of several regional and country-level markets, as well as the competition landscape and particular company analyses for the projected period. The Location Based Services Market Report covers prospective development drivers as well as the current state of market share, penetration of various kinds, technologies, applications, and regions through 2028.
Segmentation Analysis of the Location as a Service Market
By Product Type
- Tracking & Navigation
- Location-Based Social Network
- Marketing & Advertising
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Major regions covered in the report:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
- Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
- Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)
- South America (Brazil, Argentina, Rest of SA)
Covid-19 Impact Analysis On Location as a Service Market
The recent outbreak of coronavirus has proven to be a bane for the market. The pandemic has led to the suspension of business activity on account of the coronavirus pandemic and has resulted in disruptions in global supply chains, border restrictions, and travel restrictions by government bodies. Mandatory containment measures and health safety compliances have put huge pressure on remote operations across a wide array of industry verticals which further derailed the market growth rate. However, during the covid-19 prevalence, several organizations provide home delivery services which include food and beverages companies, e-commerce platforms, and others. To avoid viral infection people around the world, prefer online channels to buy various products. Therefore, to track the location of the consumer to provide the service the organizations start to use location as a service. At the end of 2020, global companies witnessed rising investments in location-based services to facilitate easy remote working.
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Key Benefits for Industry Participants & Stakeholders:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Location as a Service Market
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