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South Korea Location-based Services Market Size (2024 - 2029)

The South Korea Location-based Services Market is experiencing significant growth, driven by increasing demand for business intelligence and analytics that enhance decision-making and operational efficiency. The expansion of cellular mobile connections and the rapid adoption of 5G technology are key factors propelling this market. The proliferation of Internet of Things (IoT) applications, supported by 5G's low-latency and high-capacity capabilities, is further contributing to the market's expansion. Location-based services are increasingly utilized in various sectors, including intelligent manufacturing, smart cities, and energy-efficient construction, due to their ability to improve organizational efficiency and customer engagement. Additionally, these services play a crucial role in fraud management and secure authentication, further boosting their market size in South Korea.

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Market Size of South Korea Location-based Services Industry

South Korea Location-based Services Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR (2024 - 2029) 12.88 %
Fastest Growing Market Asia Pacific
Largest Market Asia Pacific
Market Concentration Low

Major Players

South Korea Location-based Services Market Major Players

*Disclaimer: Major Players sorted in no particular order

South Korea Location-based Services Market Analysis

The South Korea Location-based Services Market is expected to register a CAGR of 12.88% during the forecast period.

South Korea is witnessing an increasing demand for location-based services for business intelligence and analytics, as it helps improve decision-making, optimize internal business, and increase operational efficiency.

  • Growing cellular mobile connections are propelling the demand for Location-based services in South Korea. According to a recent GSMA report, The mobile landscape in South Korea is diverse, with high adoption levels of over 80%. The report also states that 5G adoption will have reached up to 53% in South Korea by the end of the current year.
  • There is rapid growth in Internet of Things (IoT) applications as 5G networks expand across South Korea. 5G enables new IoT use cases based on low-latency and high-capacity capabilities. A rise in digital transformation has helped various initiatives, such as intelligent manufacturing, smart cities, energy-efficient construction, and low-impact industrialization in South Korea.
  • Smartphones and tablets support Location-based services for global navigation satellite systems (GNSS) applications and equipment such as tracking devices, digital cameras, portable computers, and fitness gear. These devices support navigation and route planning for pedestrian and road navigation. GNSS location technology provides the best accuracy in areas with few telecom towers.
  • Location-based advertising helps to increase organizational efficiency, reduce costs, and enhance customer engagement. Therefore, a wide range of mobile operators and application developers in South Korea are interested in using location data as an enabler for numerous enterprise, consumer, and public safety services. Location-based services also help in fraud management and secure authentication, further bolstering their demand in South Korea.

South Korea 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 South Korea 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-user).

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

By Component
Hardware
Software
Services
By Location
Indoor
Outdoor
By Application
Mapping and Navigation
Business Intelligence and Analytics
Location-based Advertising
Social Networking and Entertainment
Other Applications
By End-User
Transportation and Logistics
IT and Telecom
Healthcare
Government
BFSI
Hospitality
Manufacturing
Other End-Users
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South Korea Location-based Services Market Size Summary

The South Korea location-based services market is experiencing significant growth, driven by the increasing demand for business intelligence and analytics to enhance decision-making and operational efficiency. The proliferation of cellular mobile connections and the rapid expansion of 5G networks are key factors propelling this demand. The integration of Internet of Things (IoT) applications, supported by low-latency and high-capacity 5G capabilities, is facilitating advancements in smart cities, intelligent manufacturing, and energy-efficient construction. Location-based services are becoming integral in various sectors, offering benefits such as improved navigation, route planning, and enhanced customer engagement through location-based advertising. The market is also witnessing a surge in demand for indoor location services, with Wi-Fi positioning gaining traction due to its accuracy and cost-effectiveness compared to traditional GPS or cellular triangulation methods.

The retail sector in South Korea is rapidly adopting location-based services to enhance customer experiences and drive in-store traffic. Advanced technologies are being integrated into retail apps to provide personalized information and directions, creating a seamless cross-channel environment. The growth of e-commerce and omnichannel retailing has increased the need for efficient logistics and transportation solutions, with location-based services playing a crucial role in asset tracking and management. Key industry players, including Cisco Systems, Ericsson, IBM, and HERE Technologies, are actively innovating and forming strategic partnerships to leverage location data for various applications across sectors such as retail, logistics, and automotive. These collaborations aim to enhance real-time location insights and analytics, supporting the evolving demands of businesses in South Korea.

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South Korea Location-based Services Market Size - Table of Contents

  1. 1. MARKET INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.2.1 Bargaining Power of Buyers

      2. 1.2.2 Bargaining Power of Suppliers

      3. 1.2.3 Threat of New Entrants

      4. 1.2.4 Threat of Substitutes

      5. 1.2.5 Intensity of Competitive Rivalry

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Assessment of the Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Component

      1. 2.1.1 Hardware

      2. 2.1.2 Software

      3. 2.1.3 Services

    2. 2.2 By Location

      1. 2.2.1 Indoor

      2. 2.2.2 Outdoor

    3. 2.3 By Application

      1. 2.3.1 Mapping and Navigation

      2. 2.3.2 Business Intelligence and Analytics

      3. 2.3.3 Location-based Advertising

      4. 2.3.4 Social Networking and Entertainment

      5. 2.3.5 Other Applications

    4. 2.4 By End-User

      1. 2.4.1 Transportation and Logistics

      2. 2.4.2 IT and Telecom

      3. 2.4.3 Healthcare

      4. 2.4.4 Government

      5. 2.4.5 BFSI

      6. 2.4.6 Hospitality

      7. 2.4.7 Manufacturing

      8. 2.4.8 Other End-Users

South Korea Location-based Services Market Size FAQs

The South Korea Location-based Services Market is projected to register a CAGR of 12.88% during the forecast period (2024-2029)

Cisco Systems Inc., Ericsson Inc., IBM Corporation, HERE and Vodafone Idea Limited are the major companies operating in the South Korea Location-based Services Market.

South Korea Location-based Services Market Report Snapshots

South Korea Location-based Services Market Size & Share Analysis- Growth Trends & Forecasts (2024-2029)