Location Intelligence Market Witnesses Rapid Growth, North America Leads the Way
Worldwide demand for location intelligence solutions is extrapolated to surge at 15.3% CAGR from 2023 to 2033. The global location intelligence market currently stands at a valuation of US$ 19.2 billion and is estimated to amass a revenue of US$ 79.8 billion by the end of 2033. The location intelligence market refers to the use of location-based data to provide insights into various aspects of business operations, such as sales, marketing, customer behavior, and supply chain management. This market includes various technologies and solutions, including geographic information systems (GIS), geocoding and reverse geocoding, mapping and visualization, location-based services (LBS), and others
The market is driven by the increasing demand for location-based data from various industries, including retail, healthcare, transportation, and logistics. Businesses are using location intelligence to gain a competitive edge by understanding their customers’ behavior and preferences, optimizing their supply chain, and improving their overall operational efficiency
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Key Takeaways from Market Study
- The location intelligence market is expected to grow significantly in the coming years, with a projected CAGR of 15.3% during the forecast period from 2023 to 2033
- The primary drivers of this growth include the increasing demand for location-based data from various industries and the need for businesses to gain a competitive edge by understanding their customers’ behavior and preferences.
- North America is expected to be the largest contributor to this growth, followed by Europe and Asia Pacific.
- The market includes various technologies and solutions, including geographic information systems, mapping and visualization, geocoding and reverse geocoding, and location-based services.
- The market’s growth is expected to create significant opportunities for new entrants and innovative startups in the location intelligence space.
Key Segments of Location Intelligence Industry Research
- By Application :
- Workforce Management
- Asset Management
- Facility Management
- Risk Management
- Remote Monitoring
- Sales & Marketing Optimization
- Customer Management
- Others
- By Service :
- Consulting
- System Integration
- Others
- By End Use :
- Retail & Consumer Goods
- Government & Defense
- Manufacturing & Industrial
- Transportation & Logistics
- BFSI
- IT & Telecom
- Utilities & Energy
- Media & Entertainment
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Competitive Landscape
To boost income creation and acquire a competitive edge over other market participants, top location intelligence firms are concentrating on developing novel new location solutions.
- ‘Suspicious Locations’ was a brand-new function that was introduced in January 2023, according to location identification company Incognia. The brand-new function combines exact location signals with tools to spot suspicious places. An area where dangerous equipment congregate is what the corporation classifies as a suspicious site.
- AirSage Inc., an American telecommunications firm that specialises in the collecting and analysis of location data, announced the release of its new solutions in September 2022. These offers were created to fulfil the location intelligence demands of various organisations, regardless of their size or industry vertical. Customizable solutions called “Tailored Solutions” were available to all businesses in the market.
Key Companies Profiled
- 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.
- Autodesk Inc.
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Regional Analysis
North America is expected to dominate the location intelligence market due to the presence of key players and the increasing adoption of location-based services in various industries, including retail, healthcare, and transportation. Europe and Asia Pacific are also expected to witness significant growth during the forecast period, driven by the increasing demand for location-based data and the adoption of advanced technologies in various industries. The location intelligence market in the Middle East and Africa and Latin America is also expected to grow at a steady pace, driven by the increasing adoption of location-based services in various applications, such as asset tracking, supply chain management, and fleet management
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