NEWARK, DE / ACCESSWIRE / March 9, 2023 / The location intelligence market share's net worth is predicted to reach from US$ 18.85 billion in 2023 to over US$ 81.74 billion by 2033. The market is expected to register a CAGR of 15.8% from 2023 to 2033.
In the banking, financial services, and insurance (BFSI) industry, location intelligence is becoming more popular for detecting fraud, highlighting legitimate charges, and advertising unique offers. Commercial venues like stadiums, resorts, and airports also offer way-finding alerts, quicker product delivery, and efficient queue management to improve the consumer experience.
As a result of increasing awareness of its benefits, location intelligence is increasingly being used in charging stations for Electric Vehicles (EVs), 5G networks, and drone analytics. The education and training sector requires professionals who are capable of selecting health clinic sites and improving recruitment processes.
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The increasing popularity of location-based applications and web mapping services is expected to accelerate market growth. As more businesses around the world are seeking predictive analysis tools and utilizing spatial data. As a result, this market is expected to grow rapidly. Also, social media is becoming increasingly popular as a means of engaging with customers and providing direct feedback.
"Global organizations are adopting location intelligence as a result of digitalization, the Internet of Things (IoT), and a growing volume of business data. By leveraging business intelligence (BI) and analytics, companies can remain competitive, discover the latest consumer trends, and improve their existing analytics and business intelligence capabilities." - says a lead analyst at Future Market Insights.
Key Takeaways from Market Study
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Competitive Landscape:
A location-tracking solution can be used by companies to track employees and their interactions inside them. Location intelligence can also be used within teams to determine boundaries that restrict communication between them.
Companies need to maintain their competitive position in the market by pursuing inorganic growth strategies, such as partnerships, geographical expansion, and mergers & acquisitions. Aside from investing in research and development, companies invest in various technologies to gain insight into past purchases, spending patterns, customer loyalty, and location information.
Several prominent companies dominate this market, including Autodesk Inc., Tibco Software Inc., ESRI, MDA Corporation, Trueposition Inc., Bosch Software Innovations GmbH, Qualcomm Technologies Inc., Wireless Logic, HERE Technologies, Trimble Inc., Supermap Software Co. Ltd., Navizon Inc., Pitney Bowes Inc., and others.
Recent Developments:
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Key Segments of Location Intelligence Industry Survey
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By Application:
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Table of Content
1. Executive Summary | Location Intelligence Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
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Explore FMI's Extensive Coverage In Technology Domain:
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Automotive Cyber Security Market Growth : In recent years, there has been a surge in the use of telematics services, including information, navigation, safety, security, diagnostics, and entertainment. In the years to come, this usage is expected to grow significantly at a CAGR.
Corporate Web Security Market Share: The demand for corporate online security is expected to reach US$3.2 billion by 2022. Sales of corporate online security solutions are anticipated to reach US$ 7.6 billion by 2032, registering a CAGR of 7.0%.
Internet of Everything Market Opportunity : The market for the Internet of Everything (IoE) is anticipated to grow from US$ 1,074.1 billion in 2022 to US$ 3,335.1 billion in 2030.
Real Time Location System (RTLS) Market Demand : In 2021, the real-time location system market generated US$3.8 billion in revenue. By 2032, this market is anticipated to have grown at a CAGR of 23.2%, reaching US$ 37.3 billion.
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