Market Overview:
The Location as a Service market estimated at USD 2.16 Billion in the year 2022, is projected to reach a revised size of USD 9.73 Billion by 2030, growing at a CAGR of 24% over the analysis period 2023-2030.
Location as a Service (LaaS) is a data delivery model that based on the location of the mobile user tracks the physical and geographical location of the users. The features of the location as a service include local search & information, mapping & navigation, proximity marketing, asset tracking, social networking & entertainment, and others offered through software. The location is a service that offers real-time geo data from different kinds of smart devices like smartphones to provide information, entertainment, and security. The types of location as a service include maps & navigation, tracking services, information services, and applications.
Top Key Players in Location as a Service Market:
Cisco Systems, Google Inc., Ericsson, IBM Corp., Qualcomm, Location Labs, LocationSmart, Microsoft Corp., Oracle Corp., Esri, and Other Major Players.
Market Dynamics and Factors for the Location as a Service Market:
Drivers:
Growing Penetration Rate of Smart Phones
The growing penetration rate of smartphones has significantly driven the adoption and expansion of Location Based Services (LBS). This phenomenon has created a conducive environment for the widespread use and innovation of LBS in various industries. Smartphones are equipped with multiple communication technologies such as cellular, Wi-Fi, and Bluetooth, ensuring users are always connected. This constant connectivity enables real-time location tracking and seamless communication between devices and LBS servers, facilitating instant access to location-specific information and services.
Opportunities:
Opportunity in Adoption of WLAN and Wi-Fi Networks in Hospitals and Public Places
The adoption of WLAN (Wireless Local Area Network) and Wi-Fi networks in hospitals and public places presents a significant opportunity for the Location as a Service (LaaS) market. LaaS refers to the provision of location-based services to users through cloud-based platforms, and the proliferation of WLAN and Wi-Fi networks enhances the capabilities and scope of such services. WLAN and Wi-Fi networks offer better indoor location accuracy compared to GPS signals, which can be weak or unavailable indoors. This accuracy is crucial in hospitals and large public places where precise location information is essential for navigation, asset tracking, and aiding visitors.
Segmentation Analysis of the Location as a Service Market:
- By Component, Location Based Services (LBS) are services that utilize a user's geographical location to provide relevant information, features, or functionality. Hardware plays a crucial role in driving Location Based Services, as it enables the collection, processing, and communication of location data.
- By Application, the business intelligence and analytics segment hold the highest location-based services market share, as it helps in improving decision-making, optimizing internal business, and increasing operational efficiency. However, the location-based advertising segment is expected to grow at the highest rate during the forecast period, as it helps to increase organizational efficiency, reduce cost, and enhance customer engagement.
Regional Analysis of the Location as a Service Market:
Asia Pacific is expected to have the maximum market share in the location as a service. The large population base, emerging development technology, and high economic growth among countries like India, China, Australia, Japan, Hong Kong, and Singapore are the major factors that contribute to the growth of the market. Additionally, increasing demand for location-based services by the food and beverages industries to deliver fresh food, meat, and seafood products.
Key Industry Development:
- In October 2021, Kloudspot Inc. announced its collaboration with Cisco Meraki. This partnership helps organizations that provide safer and smarter workspace experiences for employees and customers. The KloudVision and Kloudspot platform combines real-time location intelligence and video analytics collected from the Cisco Meraki.
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- US
- Canada
- Mexico
Eastern Europe
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Russia
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- South Korea
- Malaysia
- Thailand
- Vietnam
- The Philippines
- Australia
- New Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Bahrain
- Kuwait
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
