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

Asia-Pacific Location-based Services Market Size & Forecast

The Asia-Pacific Location-based Services Market to reach $118.2 billion by 2031 at a CAGR of 17.3% during the forecast period 2024–2031. The growth of the Asia-Pacific location-based services market 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.

Constant Upgrades in Mapping and Navigation Solutions Expected to Generate Growth Opportunities for Market Stakeholders

Mapping and navigation solutions provide information on current locations, allow individuals to plan routes, and enable vehicles to navigate to specific destinations. These solutions predominantly rely on real-time data inputs and updated data sources to provide accurate and efficient guidance. Constant upgrades in mapping and navigation solutions are essential to ensure accuracy, provide real-time data, and adapt to changing road networks and conditions. These upgrades often include improved algorithms, new data sources, and user interfaces that enhance the overall user experience and service reliability.

Constant upgrades in mapping and navigation solutions are required to improve accuracy, user experience, real-time capabilities, coverage, customization, integration with emerging technologies, data analytics, and data security and privacy. Regular updates for such solutions help ensure that mapping and navigation data are up to date, with reduced errors and inaccuracies in location information. These upgrades enable businesses to make more informed decisions and provide better services to their customers. Improved accuracy is crucial for businesses that rely on precise location data for decision-making. Accuracy is also paramount when accessing real-time data on road traffic, weather conditions, and events, as real-time information helps users plan their routes and destinations better.

Furthermore, companies in Asia-Pacific are attracting funding and investments with a focus on advancing their navigation technologies. For instance, in March 2023, Mapxus (Hong Kong), a leading indoor Geographic Information System (GIS) platform that provides global indoor mapping and navigation services, announced the successful kickstart of its Series B funding round, raising over USD 5 million in investments. The funding round was led by Kawasaki Heavy Industries (Japan), a leading Japanese corporation with a diverse business portfolio spanning various industries centered around technology. With this investment, Mapxus aims to innovate and develop technology solutions for the future of indoor mapping and location-based services. Also, in April 2021, Huawei's Petal Maps app introduced the 'Head-Up Display' (HUD) navigation mode for the Asia-Pacific market. Designed with safe and convenient driving in mind, the HUD mode projects essential navigation information onto the car's windshield to keep the driver's eyes on the road ahead, reduce distractions, and improve driving safety. Such developments, coupled with the surging demand for enhanced navigation solutions and constant upgradation of mapping and navigation solutions, are generating growth opportunities for the stakeholders in the Asia-Pacific location-based services market.

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Key Findings in the Asia-Pacific Location-based Services Market Study:

Platforms/Solutions to be the Fastest-growing Segment During the Forecast Period

Based on component, the APAC location-based services market is segmented into platforms/solutions and professional services. The platforms/solutions segment is projected to register the higher CAGR during the forecast period. The segment’s high growth is driven by the increasing adoption of location-based messaging platforms among consumers, market players’ increasing focus on launching location-based solutions, the growing need for location intelligence platforms to analyze and visualize geographic and location-based data, and the increasing popularity of location-powered mobile apps.

The Global Navigation Satellite System (GNSS) Segment to Register the Highest CAGR During the Forecast Period

Based on technology, the APAC location-based services market is segmented into GNSS, GPS, Wi-Fi, NFC, and other technologies. The Global Navigation Satellite System (GNSS) segment is projected to register the highest CAGR during the forecast period. The segment’s high growth is driven by the diverse range of applications of GNSS technology, including precise positioning and real-time location tracking, the increasing need for GNSS technology in asset management, and the growing demand for location-based advertising.

The Navigation Segment to Register the Highest CAGR During the Forecast Period

Based on application, the APAC location-based services market is segmented into navigation, geo-marketing & advertising/target marketing, mapping & GIS, tracking, social networking, infotainment, commercial applications, and other applications. The navigation segment is projected to register the highest CAGR during the forecast period. The segment’s high growth is driven by leading LBS players’ increasing initiatives to develop automotive navigation services and the growing implementation of comprehensive navigation solutions by automakers.

The Indoor Segment to Register the Higher CAGR During the Forecast Period

Based on location type, the APAC location-based services market is segmented into indoor and outdoor locations. The indoor segment is projected to register the higher CAGR during the forecast period. The segment’s high growth is driven by the increasing implementation of indoor location-based services to enable users to navigate environments like shopping malls, airports, or large buildings more efficiently and the growing need to track people and objects within indoor spaces.

The Retail & E-commerce Segment to Register the Highest CAGR During the Forecast Period

Based on end-use industry, the APAC 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. The retail & E-commerce segment is projected to register the highest CAGR during the forecast period. The high growth of this segment is driven by the increasing need for supply chain management in the retail sector, the increasing use of location-based data for targeted marketing campaigns, the rising popularity of location-based survey and feedback collection tools, and the growing use of retail asset management tools.

India to Be the Fastest-growing Country-level Market During the Forecast Period

Based on geography, the APAC location-based services market is segmented into Japan, China, India, South Korea, Singapore, Taiwan, Australia & New Zealand, Malaysia, Thailand, the 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. However, India is projected to register the highest CAGR during the forecast period. The growth of this country-level market is driven by increasing collaborations between market players for launching new products and the increase in drone-based operations among state governments in the country.

Asia-Pacific Location-based Services Market: Competitive Analysis

The key players operating in the Asia-Pacific location-based services market include HERE Global B.V. (Netherlands), Google LLC (a subsidiary of Alphabet Inc.) (U.S.), 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).

Asia-Pacific Location-based Services Market Report Summary:

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