The location intelligence market share's net worth is predicted to reach from USD 18.85 billion in 2023 to over USD 81.74 billion by 2033. The market is expected to register a CAGR of 15.8% from 2023 to 2033.
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.
It is gaining traction in the Banking, Financial Services, and Insurance (BFSI) sector for effectively tracking fraud, flagging legitimate charges, and promoting special deals. For enhanced customer experiences at key venues like stadiums, resorts, and airports, way-finding alerts, rapid product delivery, and effective queue management are also provided.
Location intelligence has increasingly been used in charging points for Electric Vehicles (EVs), 5G networks, and drone analytics as a result of growing awareness of its benefits. Providing health clinic site selection and improving recruitment processes is expected to be in high demand in the education and training sector in the future.
The demand for location intelligence, however, is anticipated to eventually be hampered by a lack of awareness and cynicism over data security. A growing prevalence of cyberattacks, high implementation costs, and other operational challenges may also hinder the market growth during the forecast period.
Impact Factors for Location Intelligence Market
| Attributes | Details |
|---|---|
| Location Intelligence Market Value (2023) | USD 18.85 billion |
| Location Intelligence Market Expected Value (2033) | USD 81.74 billion |
| Location Intelligence Market Projected CAGR (2023 to 2033) | 15.8% |
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As per FMI, the Location Intelligence market is expected to reach over USD 81.74 billion by 2033. In the first half of 2022, the global market increased at a CAGR of 16.45%, which is a market share of USD 17.52 billion. Although not evenly distributed throughout all regions, this growth is stronger in developing markets, where it is predicted to reach USD 18.85 billion by 2023 with a CAGR of 15.8%.
To enhance public health measures during the pandemic, healthcare and government institutions utilized location-based solutions. In addition, the utilization of location analytics also helped businesses deal with the uncertainty associated with the pandemic.
Overcrowding in hospitals and a shortage of ventilators, equipment, and other vital supplies have all plagued the health infrastructure sector since the pandemic. Location data play a crucial role in the administration of local emergency services. The use of location data has become a critical tool for overcoming these obstacles and optimizing resources in the healthcare sector.
| Historical CAGR | 16.45% |
|---|---|
| Historical Market Value (2022) | USD 16.28 billion |
| Forecast CAGR | 15.8% |
Various business operations are becoming increasingly reliant on Location Intelligence (LI) due to the growing prevalence of Internet of Things (IoT) technology. Due to the similarities between smartphones and IoT devices, retailers can use advanced location intelligence data to gain an understanding of a particular region's demographics.
By mapping customer purchase patterns and customer time spent in the shop, retailers can enhance the customer experience and increase sales. By analyzing consumer behavior, such as visitation and purchase patterns, location-based advertising allows marketers to optimize sales.
IoT-driven smart shelves can also guide customers to locate a particular product, as well as provide real-time information to managers regarding a shortage. This further augments the market demand for location intelligence. Location intelligence also facilitates strategic store planning and inventory management.
By 2023, Sales & Marketing Optimization Applications may dominate the global market with a share of more than 19.5%. It is expected that the segment is expected to continue to dominate over the forecast period.
Based on applications, the industry has been segmented into asset management, facility management, workforce management, risk management, sales and marketing optimization, remote monitoring, customer management, and others.
A location intelligence tool reduces the complexity of marketing and sales by gathering enough relevant data for a marketing campaign and predicting its outcome. Location intelligence allows for continuous monitoring and management of inventory, energy consumption, and temperature at the facility.
Management can also monitor and trace the workforce in indoor and outdoor environments with location intelligence. Using location intelligence, companies can estimate maintenance cycles for assets, track employee activities, and manage staff remotely. As a consequence, location intelligence tools are expected to increase market demand by improving operational efficiency.
In terms of services, the global industry can be divided into consulting, system integration, and others. The system integration category segment dominated the industry and accounted for over 45% of the total revenue. As IoT penetration increases and location-based data becomes more prevalent, the segment is growing due to the need to integrate new data sources.
With location intelligence, system integrators help many industries collect information that can then be used to gain meaningful insights by integrating assets, business processes, and products. The system integrator also has expertise in understanding and working with both spatial and non-spatial data businesses, open data sources, and commercial data suppliers.
During the forecast period, consulting services are predicted to record a CAGR of 16%. In this service, several business use cases are identified and prioritized, where location intelligence can provide significant value to companies.
Location intelligence assists companies in collecting, analyzing, and examining relevant information, and offers more precise opinions to other organizations. A variety of end-use industries seek advice from IoT consulting and location intelligence firms on how to integrate location intelligence tools into their daily operations.
In 2023, North America led the industry with more than 33.00% of total revenue. This is due to companies such as Bosch, Qualcomm, GE, HERE, Apple, and Google, which dominate the industry with their IoT and location intelligence products.
It is expected to grow steadily over the forecast period. It is also projected that the smartphone market in North America is expected to grow steadily at a steady rate, since smartphone penetration was around 80% in 2022.
The region not only quickly adopts new technologies, but also has a superb IT infrastructure with strong and exceptional connectivity. The two countries with the leading market shares, the United States and Canada, are the main users of location intelligence software both in this region and globally.
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The location intelligence market in the United States has a very promising demand forecast, and growth is anticipated to continue over the next few years. This is due to several factors, including the increasing adoption of location-based technologies, the growing need for real-time data and insights, and the increasing importance of location data in various industries such as retail, healthcare, and logistics.
Location intelligence solutions provide valuable insights and analytics based on location data, allowing organizations to better understand their customers, target their marketing efforts more effectively, and improve operational efficiency. This has led to a growing demand for these solutions among United States businesses and government agencies.
In addition, advances in technology, such as the widespread availability of GPS-enabled devices, the growth of the Internet of Things (IoT), and the increasing use of location-based services, are driving the growth of the location intelligence market in the United States.
Several factors are driving the growth of the location intelligence market in Germany
As smartphone users grow, service providers increase, networking technologies are improved, and social media popularity increases, China is forecast to register the significant CAGR over the forecast period.
Businesses and service providers in China are introducing cutting-edge products and services to gain a foothold in developing markets. In China, governments and municipal corporations are analyzing information about asset locations to optimize their services and ease citizens' workloads to deliver a better standard of living.
Therefore, companies are turning to location intelligence tools to improve asset management and make operations more efficient, which is expected to increase the demand for location intelligence.
There are many start-ups in the location intelligence market, offering innovative solutions and services to businesses and government agencies. These start-ups are leveraging the latest technologies, such as artificial intelligence, machine learning, and cloud computing, to provide cutting-edge location intelligence solutions. Some examples of start-ups in the location intelligence market include:
These start-ups are at the forefront of innovation in the location intelligence market and are helping businesses and government agencies leverage the power of location data to make more informed decisions.
Location-tracking solutions can be used to track and monitor employees and their interactions within an organization. Location analytics can also be used to define spatial boundaries that restrict inter-team communication.
A company's inorganic growth strategies include partnerships, geographical expansion, and mergers & acquisitions to sustain its competitive position in the market. It also invests in research and development to create technologically advanced and differentiated tools to get ahead. To gain insight into past purchases, spending patterns, customer loyalty, and location information, companies invest in a variety of technologies.
Partnership & Agreements
Product Launches
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2023 |
| Market Analysis | USD billion for Value and MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; The Middle East and Africa; East Asia |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Chile, Peru, Germany, United Kingdom, Spain, Italy, France, Russia, Poland, China, India, Japan, Australia, New Zealand, GCC Countries, North Africa, South Africa, and Türkiye |
| Key Segments Covered | Vertical, Application, Service, Region |
| Key Companies Profiled | 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. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global market of location intelligence is projected to reach a valuation of USD 81.74 billion by 2033.
North America is likely to be the most lucrative market for location intelligence, and is expected to dominate throughout the forecast period.
The global location intelligence market is projected to record a CAGR of 15.8%.
In 2023, the location intelligence market is expected to reach USD 34.06 billion.
| Estimated Market Size (2024E) | USD 4.2 billion |
|---|---|
| Projected Market Value (2034F) | USD 38.5 billion |
| Value-based CAGR (2024 to 2034) | 24.8% |
| The estimated value of the Market by 2027 | USD 48 Billion |
|---|---|
| Market Value in 2017 | USD 12 Billion |
| Estimated CAGR from 2017 to 2027 | 14.9% |
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Location Intelligence Market
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