ANZ Location-based Services Market Size (2024 - 2029)

ANZ Location-based Services Market Analysis

The ANZ Location-based Services Market size is estimated at USD 2.07 billion in 2024, and is expected to reach USD 4.89 billion by 2029, growing at a CAGR of 18.81% during the forecast period (2024-2029).

• Ongoing advancements like GPS technology, indoor positioning systems (IPS), and augmented reality (AR) are expected to enhance the accuracy and capabilities of location-based services, making them more attractive to businesses and consumers and contributing to market growth in the coming years.
• Satellite and positioning technologies are utilized regularly in almost all areas of modern life for people in Australia and New Zealand. More accurate positioning technology increases the efficiency of companies and improves the quality of life in a variety of areas, including air traffic control and instructions to the grocery.
• The ANZ (Australia and New Zealand) location-based services market is experiencing significant growth and transformation due to a convergence of technological advancements, changing consumer behaviors, and industry-specific demands. This market encompasses a wide range of services and applications leveraging location data to deliver personalized experiences, streamline business operations, and enhance everyday life.
• One of the primary drivers of the ANZ location-based services market is the widespread adoption of smartphones and other mobile devices. With a high smartphone penetration rate in Australia and New Zealand, the region provides a favorable environment for location-based apps and services. Consumers use these devices for navigation, local search, and location-aware applications, creating a substantial user base for location-based offerings.
• In addition, the transport and logistics industry benefits significantly from location-based services for route optimization, fleet management, and real-time tracking. As this sector expands to meet growing demand, the need for such services continues to rise.
• While location technology has improved, accuracy and reliability can still be a concern, especially in remote or densely populated areas. Inaccurate location data can lead to suboptimal user experiences and reduce the effectiveness of location-based services.

ANZ Location-based Services Industry Segmentation

Location-based services (LBSs) are computer or mobile applications that provide information based on the device's location and the user, primarily through mobile portable devices, such as smartphones and mobile networks. The precision of the location services primarily depends on the hardware and software used in the mobile communication system, along with the positioning server.

The ANZ location-based services market is segmented by location (indoor and outdoor), service type (managed and professional), and end-user (transportation and logistics, manufacturing, retail and consumer goods, healthcare, automotive, and other end-user).

The market sizes and forecasts are provided in terms of value (USD) for all the above segments.