A new report shares the global location-based services market is expected to grow at a CAGR of 15.2% from 2022 to 2029 to reach $239.7 billion by 2029.

Location-based services (LBS) combine geospatial technologies, information and communication technologies, and the Internet to provide targeted information to individuals based on their geographic location in real-time. LBS technology has become widely adopted across many industries, including the retail sector and transport & logistics industry, to provide accurate location and spatial data to achieve business outcomes.

Report title: "Location-based Services Market by Component, Technology (GPS, Wi-Fi, NFC), Application (GIS, Navigation, Tracking, Social Media), Location, and Industry Vertical (Logistics, Retail, Healthcare, Media, Defense, Hospitality, BFSI)—Global Forecast to 2029"

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