Location-based Services Global Market Report 2024

The location-based services market size has grown exponentially in recent years. It will grow from $86.02 billion in 2023 to $107.86 billion in 2024 at a compound annual growth rate (CAGR) of 25.4%. The growth in the historic period can be attributed to increasing smartphone penetration, e-commerce and retail integration, rise in mobile advertising, transportation and navigation applications, emergence of iot and wearables.

The location-based services market size is expected to see exponential growth in the next few years. It will grow to $275.4 billion in 2028 at a compound annual growth rate (CAGR) of 26.4%. The growth in the forecast period can be attributed to indoor location services demand, smart cities and urban planning, contact tracing and health applications, enhanced location analytics. Major trends in the forecast period include proximity marketing and beacon technology, mobile indoor navigation, rise of location-based gaming, integration with 5g networks, emergency and public safety applications.

An upsurge in the use of smartphones and GPS-enabled devices is expected to propel the growth of location-based services. Location-based services combine the internet, geospatial technologies, and other information and communication technologies to provide targeted information to individuals on their smartphones based on geographic location in real-time. According to the data by the Indian Cellular and Electronics Association, the number of users using smartphones is expected to reach 829 million by 2022. Also, according to forecasts from Ericsson and The Radicati Group, the number of smartphone users is expected to increase from 6.05 billion in 2020 to nearly 7.33 billion by 2025. Therefore, an upsurge in the use of smartphones and GPS-enabled devices drives the location-based services market.

The increasing adoption of IoT devices is expected to propel the growth of location-based services market going forward. Internet of Things (IoT) devices are physical objects or devices embedded with sensors, software, and other technologies that enable them to connect to the internet, collect and exchange data, and perform specific functions. IoT devices enable real-time data collection, enhancing accuracy in location tracking and enabling more precise and personalized location-based services due to the ability to gather and transmit location-specific information swiftly and consistently. For instance, in May 2023, as per Dataprot, a Serbia-based cybersecurity solutions company, there were over ten billion active IoT devices in use in 2021, with an anticipated to increase to 25.4 billion by 2030. Therefore, the increasing adoption of IoT devices is driving the growth of location-based services market.

Major companies operating in the location-based services market are developing innovative products such as high precision tracking devices to sustain their position in the market. High precision tracking devices refer to advanced technological tools designed to accurately and reliably determine the location, movement, and sometimes other relevant data of objects or individuals with an exceptionally high degree of accuracy. For instance, in July 2023, Bad Elf LLC, a US-based computer hardware manufacturing company launched Bad Elf Flex Mini, a high-precision Bluetooth GNSS receiver designed for geospatial professionals. It offers a range of accuracy levels to suit different mapping needs, including an extreme mode for subfoot accuracy with RTK support. The device supports multiple satellite constellations for global coverage and uses Bluetooth to connect to smartphones and tablets. It features a long-lasting battery, a rugged design, and a companion app for iOS and Android. This product aims to provide a cost-effective and user-friendly solution for high-precision location data collection in challenging field conditions.


Major companies in the location-based services market are adopting strategic partnerships to enhance comprehensive geospatial solutions for diverse consumer and business needs. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in August 2021, Wipro, an India-based information technology company, partnered with Here Technologies, a US-based software company, to deliver location-based services to customers across various industries, including energy and utilities, manufacturing, transport and logistics, telecom, and automotive. The collaboration involves joint development efforts in areas such as asset tracking, logistics, supply chain, smart-metering, analytics, field workforce management, and private mapping-as-a-service for real-time indoor and outdoor asset tracking. The partnership aims to leverage IoT-based smart metering solutions, HERE mapping-as-a-service capabilities, and HERE Tracking to provide enhanced services for monitoring, tracking, and analytics, contributing to operational efficiencies in an array of sectors.


In June 2021, Verizon, an American wireless network operator acquired Senion for an undisclosed amount. With this acquisition, Verizon’s location-based portfolio will be expanded and empower the companies for the better safety of the enterprises. Senion is a UK-based company operating in location-based services.

Major companies operating in the location-based services market report are Apple Inc., Google LLC, AT&T Inc., Nippon Telegraph and Telephone Corporation Docomo, Intel Corporation, International Business Machines Corporation, Cisco Systems Inc., Qualcomm Incorporated, Oracle Corporation, Telefonaktiebolaget LM Ericsson, CommScope Holding Company Inc., Transfix Inc., INRIX Inc., CloudMade Inc., Bluedot Innovation Inc., pureLiFi Ltd., Kinetica DB LLC, Navenio Inc., AiRISTA Flow, ALCATEL-LUCENT Enterprise SAS, Flybits Inc., HERE Global B.V., InnerSpace Pty Ltd., Localz Inc., Mapsted Corporation, Quuppa Inc., Navigine GmbH, Resonai Inc., Seldon Technologies Ltd.

North America was the largest region in the location-based services market in 2023. Asia-Pacific was the second largest market in location-based services market. The regions covered in the location-based services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the location-based services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The different components of location-based services include platforms, hardware, and services. Platforms are used to provide the infrastructure for seamless positioning. Platforms can transmit information using augmented technology and maps. The different location types for location-based services include indoor and outdoor. The location-based services technologies include GPS, assisted GPS, enhanced GPS, enhanced observed time difference, observed time difference, cell id, Wi-Fi, and other technologies, used for applications in location-based advertising, business intelligence & analytics, fleet management, mapping & navigation, proximity marketing, asset tracking, and other applications.

The location-based services market research report is one of a series of new reports that provides location-based services market statistics, including location-based services industry global market size, regional shares, competitors with a location-based services market share, detailed location-based services market segments, market trends and opportunities, and any further data you may need to thrive in the location-based services industry. This location-based services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The location-based services market includes revenues earned by entities by providing location-based services such as mapping, routing, assistance navigation services, tracking services, and information services by using geospatial and information & communication technologies to provide targeted information to individuals based on their geographic location in real-time. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.