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

KSA Location-based Services Market Analysis

The KSA Location-based Services Market is expected to register a CAGR of 14% during the forecast period.

The infrastructural development in the KSA and the digitalization trend in the country's business landscape are fueling the market of location-based services in the country due to their application in urban planning, location-based advertising, and business intelligence, among others.

• The country has been investing and prioritizing the development of intelligent cities and infrastructure in line with the objective of Saudi's Vision 2030, which is driving market growth because the integration of location-based services in smart city infrastructure can use real-time geospatial data to provide valuable insights and enable more informed decision-making in various aspects of urban planning and development.
• The digitalization trend in the country has increased the adoption of one-to-one advertising techniques using geo-fencing and other location-based solutions in the country are fuelling the adoption of location-based solutions in the retail, healthcare, BFSIs, and other sectors in Saudi Arabia. For instance, in October 2022, the Saudi Central Bank published a report on the Counter-Fraud Framework in the country's BFSI sector by stating the importance of using mobile device geolocation data to require verification if a user attempts to access products and services out of its regular location. In addition, geofencing technology and location-based solutions can restrict access to online or mobile services based on the user's geographical location, which drives the demand for the market in the country.
• Additionally, in September 2023, India-based Genesys International secured an order worth USD 8.05 million from Saudi-listed Al Moammar Information Systems (MIS) to provide advanced national mapping services. Furthermore, the company established a subsidiary in the Kingdom, as Saudi Arabia undertakes extensive infrastructure and urban planning initiatives, which shows the demand for location-based solutions for the country's infrastructural mapping applications, driving market growth in the future.
• However, the location-based solutions use communication networks to operate and need private information from the smart devices used for collecting data regarding city planning or making personalized advertisement campaigns, which are vulnerable to data privacy breaches and cyber attacks, restricting the market growth in the country due to the rising concern on cyber security in the country.

KSA 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 KSA location-based services market is segmented by component (hardware, software, services), location (indoor and outdoor), application (mapping and navigation, business intelligence and analytics, location-based advertising, social networking, entertainment, and other applications), and end-user (transportation and logistics, it and telecom, healthcare, government, BFSI, hospitality, manufacturing, and other end-users).

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