The global location intelligence market size is anticipated to reach USD 51.25 billion by 2030, growing at a CAGR of 15.6% from 2022 to 2030, according to a new study by Grand View Research Inc. The growth in web-mapping services, portable navigation devices, and smartphone applications is anticipated to be a significant factor driving the market growth. Furthermore, factors such as increasing smartphone penetration and location infrastructure are likely to create opportunities for market growth over the forecast period.
AT&T, ESRI, Google, Qualcomm, Intel, and Apple are some of the companies investing significantly in location intelligence technologies. The solution providers integrate real-time location monitoring capability into devices such as vehicles, smartphones, and aircraft. These technologies help businesses identify behavior & consumer trends and collect information on niche markets to improve decision-making, deliver better services and products, and reduce the variability in the market. Thus, the need to optimize cost efficiency and business operations has increased the demand for such technologies in multiple end-use verticals.
Location Intelligence Market Segmentation
Grand View Research has segmented the global location intelligence market based on application, service, vertical, and region:
Based on the Application Insights, the market is segmented into Workforce Management, Asset Management, Facility Management, Risk Management, Remote Monitoring, Sales & Marketing Optimization, Customer Management, Others.
The sales & marketing optimization segment dominated the global market with a share of 20.10% in 2021 and is expected to continue to dominate over the forecast period.
Location intelligence tools reduce the complexity of the sales & marketing processes by gathering adequate relevant data for marketing campaigns and predicting outcomes.
Furthermore, location intelligence helps continuously monitor and manage inventory, energy utilization, and temperature in a facility remotely. It can also help the management trace and monitor the workforce in indoor and outdoor environments.
Based on the Service Insights, the market is segmented into Consulting, System Integration, Others.
The system integration segment dominated the market with a share of 45.73% in 2021 owing to the growing need to integrate new data sources due to the rising penetration of IoT and the increasing location-based data.
System integrators help many industries integrate their assets, business processes, and products with location intelligence to collect information that can be further studied to gather meaningful insights.
The consulting segment is expected to expand at a CAGR of 15.4% over the forecast period. This service helps identify and prioritize several business use cases where location intelligence provides significant value. Location intelligence helps businesses collect, analyze, and examine relevant information and offer a more precise opinion to other organizations.
Based on the Vertical Insights, the market is segmented into Retail & Consumer Goods, Government & Defense, Manufacturing & Industrial, Transportation & Logistics, BFSI, IT & Telecom, Utilities & Energy, Media & Entertainment.
The transportation & logistics segment accounted for the largest revenue share of 19.13% of the overall market in 2021. Location intelligence helps in understanding the distance and drive times between destinations with precise geographic coordinates and the routable road network.
It also provides details on road blockages and actual daily closures on the site. It helps resolve retail challenges, including store sales predictions, drive time & distance profiling, network optimization & scenario modeling, site selection planning, and franchise area evaluation & overlap analysis.
The retail & consumer goods segment is anticipated to record the fastest growth over the forecast period. Location intelligence offers a framework that utilizes site selection techniques such as sophisticated modeling and the “kicking-the-dirt” technique.
Location Intelligence Regional Outlook
North America
Europe
Asia Pacific
South America
Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
Companies can adopt location tracking solutions to monitor and track their employees and what they encounter. Additionally, location analytics can help define spatial boundaries to restrict inter-team communication within an organization. The market players adopt inorganic growth strategies such as partnerships, geographic expansion, and mergers & acquisitions to sustain in the competitive market.
Some prominent players in the global location intelligence market include
Autodesk, Inc.
Bosch Software Innovations GmbH
Cuebiq Inc.
ESRI
HERE Technologies
MDA Corporation
Navizon, Inc.
Precisely
Qualcomm Technologies, Inc
Supermap Software Co., Ltd
Tibco Software, Inc.
Trimble, Inc.
Trueposition, Inc.
Wireless Logic
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.