Asia Pacific Location Based Services Market

 Meticulous Research®—a leading global market research company, published a research report titled, Asia-Pacific Location-based Services Market by Component, Technology (GNSS, GPS), Application (Navigation, Mapping & GIS), Location Type, End-use Industry (Transportation & Logistics, Retail & E-commerce), and Geography -Forecast to 2031.’

According to this latest publication from Meticulous Research®, the Asia-Pacific location-based services market is projected to reach $118.2 billion by 2031, at a CAGR of 17.3% from 2024–2031.The growth of the Asia-Pacific location-based services is driven by the proliferation of location-based services in the retail sector and the surging use of location-based services in the agriculture sector. However, dynamic government rules and regulations for location-based services restrain the growth of this market. Furthermore, constant upgrades in mapping and navigation solutions are expected to generate growth opportunities for the players operating in this market. However, the high costs of procuring and implementing location-based services are a major challenge impacting market growth. Additionally, the use of 5G technology for improved real-time analysis and the development of GIS software using augmented reality (AR)/virtual reality (VR) technologies are prominent trends in this market.

The Asia-Pacific location-based services market is segmented by component (platforms/solutions [location-powered mobile apps, location intelligence platforms, and location-based messaging] and professional services [mapping services, implementation & support, and consulting & development services]), technology (global navigation satellite system, global positioning system [assisted GPS and enhanced GPS], Wi-Fi, near-field communication, and other technologies), applications (navigation [smart parking, route planning, and other navigation applications], geo-marketing & advertising/target marketing, mapping & GIS, tracking [valuables & stolen goods tracking, pet tracking, parolees tracking, and child tracking], social networking [chat & instant messaging services, dating apps, and friend locator apps], infotainment, commercial applications, and other applications), location type (outdoor and indoor), end-use industry (government & public sector, transportation & logistics, smart cities, retail & E-commerce, consumer goods, media & entertainment, travel & tourism, BFSI, IT & telecom, healthcare, hospitality, aerospace & defense, energy & utilities, automotive, agriculture, education, and manufacturing), and country/region. The study also evaluates industry competitors and analyses the market at the country and regional levels.

Based on component, the Asia-Pacific location-based services market is segmented into platforms/solutions and professional services. In 2024, the platforms/solutions segment is expected to account for the larger share of the Asia-Pacific location-based services market. The large market share of this segment is attributed to the increasing focus by market players to launch location-based solutions, the increasing popularity of location-powered mobile apps, the growing need for location intelligence platforms to analyze and visualize geographic and location-based data, and the increasing adoption of location-based messaging platforms among consumers.

Also, this segment is projected to register the highest CAGR during the forecast period.

Based on technology, the Asia-Pacific location-based services market is segmented into global navigation satellite systems, global positioning systems, Wi-Fi, near-field communication, and other technologies. In 2024, the global navigation satellite system segment is expected to account for the largest share of the Asia-Pacific location-based services market. The large market share of this segment is attributed to the diverse range of applications of GNSS, including precise positioning and real-time location tracking. Additionally, the growing demand for location-based advertising and the increasing need for GNSS in asset management contributes to the significant market share of this segment.

Additionally, this segment is projected to register the highest CAGR during the forecast period.

Based on application, the Asia-Pacific location-based services market is segmented into navigation, geo-marketing & advertising/target marketing, mapping & GIS, tracking, social networking, infotainment, infotainment, and other applications. In 2024, the navigation segment is expected to account for the largest share of the Asia-Pacific location-based services market. The segment’s large market share is attributed to the rapid implementation of comprehensive navigation solutions by automakers and the increasing initiatives by leading LBS players to develop automotive navigation services.

However, this segment is expected to register the highest CAGR during the forecast period.

Based on location type, the Asia-Pacific location-based services market is segmented into outdoor and indoor. In 2024, the outdoor segment is expected to account for the largest share of the Asia-Pacific location-based services market. The segment’s large market share is attributed to the rising demand for outdoor location-based services for various applications, including improved navigation and mapping applications, asset tracking applications, outdoor proximity marketing applications, and the increasing deployments of outdoor applications, particularly for automotive and pet tracking applications.

However, the indoor segment is expected to register the highest CAGR during the forecast period due to the growing need to track people and objects within a set space and the increasing implementation of indoor locations to navigate environments like shopping malls, airports, or large buildings more efficiently.

Based on end-use industry, the Asia-Pacific location-based services market is segmented into government & public sector, transportation & logistics, smart cities, retail & E-commerce, consumer goods, media & entertainment, travel & tourism, BFSI, IT & telecom, healthcare, hospitality, aerospace & defense, energy & utilities, automotive, agriculture, education, and manufacturing. In 2024, the transportation & logistics segment is expected to account for the largest share of the Asia-Pacific location-based services market. The segment’s large market share is attributed to the increasing need for real-time tracking of vehicles using GPS, the growing use of location intelligence tools to analyze traffic patterns and congestion in real time, and the increasing usage of location intelligence tools for route optimization.

However, the retail & E-commerce segment is expected to register the highest CAGR during the forecast period due to the rising need for location-based data for targeted marketing campaigns, the increasing popularity of location-based surveys and feedback collection tools, the growing usage of retail asset management tools, and the increasing need for supply chain management in the retail sector.

Based on country/region, the Asia-Pacific location-based services market is segmented into Japan, China, India, South Korea, Singapore, Taiwan, Australia & New Zealand, Malaysia, Thailand, Philippines, Indonesia, Vietnam, and the Rest of Asia-Pacific. In 2024, China is expected to account for the largest share of the Asia-Pacific location-based services market. The large share of this market is mainly attributed to factors such as the growing demand for automated smart driving solutions, rising launches of autonomous cars, trucks, and construction vehicles, a boom in GNSS hardware, and effective usage of drones in hospital operations support the growth of the LBS market in China.

However, India is expected to register the highest CAGR during the forecast period due to the increasing demand for drone-based operations by state governments, increasing initiatives by local players, and increasing collaborations between market players for new product launches.

Key Players

The key players operating in the Asia-Pacific location-based services market are HERE Global B.V. (Netherlands), Google LLC (U.S.) (A Subsidiary of Alphabet Inc.), TomTom N.V. (Netherlands), Esri (U.S.), Hexagon AB (Sweden), Trimble Inc. (U.S.), Cisco Systems, Inc. (U.S.), QUALCOMM Incorporated (U.S.), Microsoft Corporation (U.S.), AT&T Inc. (U.S.), Zebra Technologies Corporation (U.S.), ALE International (France), Precisely (U.S.), Rohde & Schwarz GmbH & Co. KG (Germany), and Nextbillion.AI Pte. Ltd. (Singapore).

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5784

Key Questions Answered in the Report:

·         Which are the high-growth market segments in terms of component, technology, application, location type, and end-use industry?

·         What is the historical market size for the Asia-Pacific location-based services market?

·         What are the market forecasts and estimates for 2024–2031?

·         What are the major drivers, restraints, opportunities, challenges, and trends in the Asia-Pacific location-based services market?

·         Who are the major players in the Asia-Pacific location-based services market, and what are their market shares?

·         What is the competitive landscape like?

·         What are the recent developments in the Asia-Pacific location-based services market?

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Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research

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