Table of Contents
- Market Analysis for GPS or Location-Based Service
- The Need to Have Location-Based Services
- The Key Benefits of LBS
- Key Features of Location-Based Apps
- Location-based Services (LBS) Market Segments
- Types of Geo-Location Featured Apps
- Types of Geo-Location Technologies
- Technology Stack to build GPS Apps
- Compendium: How to create a Location-Based App?
Quick Help: The market is quantitatively analyzed from 2018 to 2026 to highlight the financial competency of the industry.
The pervasive use of mobile devices like smartphones, fitness trackers, tablet PC’s, Laptops have uprose a need for contextual user information that includes geo-location data – an extremely valuable resource for the marketers. Most of the businesses and marketing agencies have engaged in proximity marketing to keep track of customer behavior and purchase history.
Big brands make use of geo-fencing or create their way to target businesses in different locations for targeted promotional offers on mobile devices via text messages, emails, flyers, push notifications, flash files, GIF images and short videos.
Market Analysis for GPS or Location-Based Service (2020 and Beyond)
The location-based service market is comparatively new and was valued at $23.74 billion in 2018, and is projected to reach $157.34 billion by 2026, growing at a CAGR of 27.1% from 2019 to 2026.
Digitization is directly proportional to the advance in location-based services (LBS) owing to its capability to offer customized marketing strategy solutions, creating new revenue opportunities for businesses in every domain. The ability to provide and analyze geo-data in real-time has intensively helped receivers for directions and as navigations app that tells us where we are and how to move in between points.
Low prices of GPS coupled with a rise in the penetration of the smartphones and an increasing innovation in the location-based analytical solutions has led businesses to gain competitive advantages.
The Need to Have Location-Based Services
Location-based services are used to provide information about a particular user’s location through the internet by using real-time geo-data. The web portals and mobile applications have an aggrandized flow of online traffic due to persistent proliferation of smart devices, wireless technologies, cloud computing, Internet of Things, Artificial Intelligence, Chatbots, Virtual and Augmented Reality. All these reactions have led to fuel the adoption of LBS across government authorities, defence & intelligence, transportation, telecommunication, manufacturing, e-retailing, energy, and natural resource management, food delivery, cab booking and tracking,
The Key Benefits of LBS
- The location-based service market research study includes the market trends, analysis, and future estimations to determine the imminent investment pockets.
- Many retailers from Macy’s to Walgreens are already experimenting with location-sensing technologies, with a focus to date on navigation, location-based promotional offers, and reviews of nearby products.
- Global Positioning System Services work wonders in tracking assets in the logistics and transportation industry.
- Integrating UWB and GPS to provide the target with seamless indoor-outdoor navigation capability and have developed a prototype.
Key Features of Location-Based Apps
- Users identify and share their location with other users on the same social media profile like WhatsApp or Facebook Messenger.
- Mobile Location tracking apps measure a distance between objects and show nearby places by café, like nearby schools, a nearby restaurant, a nearby petrol pump etc.
- In-app maps build optimum routes from one point to another (like in case of Uber cars showing fastest ways to the destination)
Location-based Services (LBS) Market Segments
Location Bases Social Apps can be bifurcated according to the component, by technology, by application, by industry vertical and by Religion:
By Component
- Software
- Hardware
- Services
By Technology
- GPS
- Assisted GPS (A-GPS)
- Enhanced GPS (E-GPS)
- Observed Time Difference
- Enhanced Observed Time Difference
- Wi-Fi
- Cell ID
- Others
By Application
- Location-based Advertising
- Business Intelligence & Analytics
- Mapping and Navigation
- Fleet Management
- Local Search & Information
- Proximity Marketing
- Social Networking & Entertainment
- Asset Tracking
- Others
By Industry Vertical
- Manufacturing
- Transportation & Logistics
- Government & Public Utilities
- Retail
- IT & Telecom
- BFSI
- Healthcare & Life Sciences
- Media & Entertainment
- Hospitality
- Others
By Region
- North America
- The U.S.
- Mexico
- Canada
- Europe
- UK
- Italy
- Germany
- France
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- India
- Singapore
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Africa
- Latin America
- Middle East
Types of Geo-Location Featured Apps
- Location trackers (Waze, Glympse, Google Maps, Find My iPhone, mSpy, FamiSafe, Life360 – Family Locator, Spyzie, Glympse, Hoverwatch)
- Social networks, messengers (Facebook, WhatsApp)
(Also Read: A Quick Reference To Create a Social Media App)
- Dating apps (Tinder, OkCupid, Bumble, Blendr, Plenty of Fish, Zoosk and many others)
(Also Read: Tinder Alternatives: Best Dating Apps like Tinder)
- Fitness apps with GPS route tracking (Nike Running Club, My Fitness Pal at Google Play, Daily Workouts Fitness Trainer at iTunes, Zones for Training at iTunes, Fooducate at iTunes, YogaGlo at iTunes, Sworkit at iTunes, JEFIT Workout Planner Gym Log at iTunes, Headspace at iTunes, PEAR Personal Fitness at iTunes, The 7 Minute Workout at iTunes)
(Also Read: Prefer Female Health Tracking App to Offer Levity with Those “Goofy” Times)
- On-demand delivery apps (Uber, UberEats, Zomato, Grubhub, TaskRabbit, CAOCAO, VistaJet)
(Also Read: Decoding the Cost to Create an On-Demand Delivery App)
- Travel apps (Expedia, TripAdvisor, Booking, Airbnb and many more)
(Also Read: Building a Travel Booking Application – The Cost and Benefit Scenario)
- Weather apps (Yahoo Weather, Weather by Apple)
(Also Read: Weather App Development: Tricks & Tips You Must Know)
- Games (Pokemon Go, GeoCaching, Ingress, Zombies, Run, Turf wars, Parallel, Kingdom, Harry Potter Wizards)
- Photo location finder apps (Google Photos, Explorest)
- Healthcare Apps (Nike Running Club)
- Retail App (IKEA)
- Marketplace App (eBay)
- DHL Cargo Mobile Tracking (Logistics)
Types of Geo-Location Technologies
Outdoor – GPS, Cell ID, Wi-Fi.
Indoor – Geo-fencing, i-beacon, Eddistone
Technology Stack to build GPS Apps
The specific API’s that are used to create GPS Apps are:
Web
- HTML5 geolocation API
iOS
- Google Maps API
- Core Location API
- Google Maps SDK
- Apple MapKit
- Google Places API
Android
- location package
- Google Location Services API
- Google Maps API
- Google Maps Directions API
- Google Distance Matrix API
- MapView class
- Yandex Maps
- Open Street Map
- Mapbox
Compendium: How to create a Location-Based App?
As obvious the increasing adoption of technologies and mobile devices has made real-time data an extremely essential element for tracking and analytics. This accompanies the increasing importance of targeted marketing that has led to a high focus on global marketing efforts. Location-based advertising is a strong tool for mobile marketing and can elicit a quick response from consumers. Location-based app ideas lead to quick and effective marketing of brands and enterprises. Drop us a query for more information on location-based applications.