The new report by Expert Market Research titled, ‘Global Location Intelligence Market Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global location intelligence market, assessing the market based on its segments like application, end use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 12.21 Billion
- Forecast CAGR (2023-2028): 1%
- Forecast Market Size (2026): USD 29.90 Billion
The deployment of technology in transportation and logistics is expected to drive the expansion of location intelligence in the coming years. Technologies like artificial intelligence (AI) and Internet of Things (IoT) are gaining traction in warehouse management and operations as a result of the introduction of logistics automation. Automation uses location intelligence for remote administration and tracking of robots, enhancing its application in logistics management. The expanding use of smart devices, combined with the growing demand for data-rich location solutions to improve customer engagement and operational efficiency, is likely to drive the market forward. LI’s use in charge point rollout for electric vehicles (EVs), 5G network deployment, and IoT drone analytics is growing as people become more aware of its benefits. Its need for offering health clinic site selection and upgrading recruitment processes in the education and training sector is expected to increase.
Industry Definition and Major Segments
The collecting and analysis of geodata for the purpose of making more informed and sensible business decisions is referred to as location intelligence (LI). Organisations use it to collect and compile massive data, identify patterns and trends related to specific needs, and make effective strategic decisions. Government agencies also use it to allocate resources, effect public safety, and prevent fraud and abuse.
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On the basis of application, the market can be segmented into:
- Workforce Management
- Asset Management
- Facility Management
- Risk Management
- Remote Monitoring
- Sales and Marketing Optimisation
- Customer Management
- Others
Based on end use, the market can be divided into:
- Transportation and Logistics
- Retail and Consumer Goods
- Government and Defence
- Manufacturing and Industrial
- IT and Telecommunication
- Others
On the basis of region, the industry is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
Geospatial analytics technology is pushing the market for location intelligence in the transportation sector to detect traffic patterns, due to the increased usage of smartphones and internet services. Increased network infrastructure and smart device adoption, combined with increased digitalisation, has enabled organisations to acquire user data, which is expected to drive market expansion even further. The growing use of GPS devices, rising spending on connected devices, and technological advancements in the field of GIS technology are driving the location analytics market. It is considered that spatial data and analysis is highly important for companies to understand the changing business trends and challenges across regions, which is driving the market growth.
Key Market Players
The major players in the market are Esri, Navizon, Inc., Tibco Software, Inc., and CartoDB Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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