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.
A data delivery paradigm called Location as a Service (LaaS) tracks customers' geographical and physical locations based on their mobile device's location. Local search and information, mapping and navigation, asset tracking, proximity marketing, social networking and entertainment, and other software-enabled services are among the features of location as a service. A service called The Location uses real-time geodata from various smart devices, such as smartphones, to deliver security, entertainment, and information. Maps and navigation, tracking services, information services, and applications are some examples of location as a service kinds. Several well-known mobile location-as-a-service applications are Lyft, Uber, Waze, Google Maps, and Trip Advisor.
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.
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Segmentation Analysis of Location as a Service Market
By Product Type
- GPS
- GPRS
- RFID
- GIS
By Application
- Tracking & Navigation
- Location-Based Social Network
- Marketing & Advertising
- Others
By Industry Verticals
- Consumer Electronics
- Government
- BFSI
- Retail
- Transportation
- Others
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Regional Analysis In The Location as a Service Market
As a service, Asia Pacific is anticipated to hold the most market share in the region. The main drivers of the market's expansion are the vast population base, developing technologies, and rapid economic growth in nations like Singapore, Hong Kong, Japan, Australia, China, India, and Hong Kong. Furthermore, the food and beverage sectors are experiencing a rise in demand for location-based services to supply fresh food, meat, and seafood items. Because more individuals in this region are interested on buying products online and because there are numerous e-commerce platforms offering home delivery services, North America has experienced tremendous expansion in the location as a service sector.
By Region
- 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)
Covid-19 Impact Analysis On Location as a Service Market
The market has suffered greatly as a result of the recent coronavirus outbreak. Due of the coronavirus pandemic, corporate operations have been halted. Additionally, there have been interruptions to international supply chains, border restrictions, and travel bans imposed by the government. The market growth rate has been further derailled by the immense strain that mandatory containment measures and health safety compliances have placed on remote operations across a wide range of industry verticals. But in the midst of the COVID-19 pandemic, a number of businesses—including food and beverage manufacturers and online retailers—offer home delivery services.
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