Global Location Intelligence Market Size, Share, Forecast Report, 2020-2027
The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Location Intelligence Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Location Intelligence market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.
The global location intelligence market size was valued at USD 10.6 billion in 2019 and is expected to expand at a CAGR of 15.2% over the forecast period. Factors, such as the growth in portable navigation devices, web-mapping services, and smartphone applications are significantly contributing to the market growth. Furthermore, increasing investments in IoT, growing penetration of smart devices, and network infrastructure are the other factors expected to bolster the market. According to GSMA, the total number of IoT connections accounted for 9.1 billion in 2018 and is expected to reach over 25.2 billion by 2027.
Location intelligence helps detect risks, patterns, and opportunities for businesses with the help of physical geography, demographics, and data pertaining to location. Other benefits of location intelligence include predictive analytics, risk management, real-time tracking of patterns and trends, and streamlining services and operations of companies. This factor is anticipated to fuel the adoption of location intelligence services across organizations driving the overall market. Rising demand for location intelligence data to enhance business operations and to deliver personalized services is expected to further spur the growth.
Smartphones allow businesses to access dynamic location data, such as information on customers’ whereabouts, their preferences, duration of their stay, and frequency of visits. These dynamic location data enable organizations to predict the customer behavior and their buying patterns, which can help in better decision making.Increased use of mobile devices for commercial transactions has been an emerging trend over the last decade. The adoption of new technologies and increasing investments in infrastructure have resulted in the development of numerous Business-to-Consumer (B2C) and Business-to-Business (B2B) applications. The widespread use of various mobile applications and enhanced location sharing capabilities of mobile devices have revolutionized the way services are being delivered to the end-users.
Companies, such as Google, ESRI, Qualcomm, AT&T, Intel, and Apple are making significant investments in location intelligence technologies. The solutions providers are integrating real-time location monitoring capabilities in devices, such as smartphones, vehicles, and aircraft. These tools enable businesses to identify consumer trends and behavior and collect a variety of information on niche markets enabling better decisions making, delivering better products and services, and mitigating the uncertainties in the market. Thus, the need to optimize business operations and cost efficiency has increased demand for location intelligence tools across various industries, which is anticipated to accelerate the market growth.
However, lack of network infrastructure, data privacy concerns, lack of awareness, and other operational challenges and risks can hinder the growth of the location intelligence market. Several connected devices gather personal information and tracks live location of users which puts it at the risk of misuse by hackers and such other elements for fraudulent and criminal activities, which is may adversely affect the growth in the forthcoming years
The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Location Intelligence market are included as given below:
The market is highly competitive in nature, owing to the presence of prominent players, such as Pitney Bowes Inc.; Apple Inc.; Qualcomm Technologies; Wireless Logic; HERE Technologies; Bosch Software Innovations GmbH; and Trimble Inc. The solution providers are focusing on mergers and acquisitions with smaller and emerging technology companies to gain significant market share through augmenting their service and product portfolios. To put this into perspective, IBM’s collaboration with Mapbox enabled the Watson platform users to gather geodata and track a variety of location data.
Intel’s acquisition of Basis and Google’s acquisition of Nest enabled these companies to enter into the location intelligence and IoT market. Furthermore, the companies highly investing in R&D and collaborating with research institutes to develop new innovative products, such as SAP Geographical Framework that enable organizations to integrate location data using GIS technologies and enrich business applications.
The global Location Intelligence market has been segmented as below:
- Location Intelligence Application
- Workforce Management
- Asset Management
- Facility Management
- Risk Management
- Remote Monitoring
- Sales & Marketing Optimization
- Customer management
- Location Intelligence Service
- System Integration
- Location Intelligence Vertical
- Retail and Consumer Goods
- Government & Defense
- Manufacturing & Industrial
- Transportation & Logistics
- IT & Telecom
- Utilities & Energy
- Media & Entertainment
- Global Location Intelligence Market by Region
- North America
- Asia Pacific
- Rest of the World
Reasons to Purchase this Report:
Estimates Location Intelligence development trends with SWOT analysis
- Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
- Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
- Market dynamics scenario, along with growth opportunities for players in the years to come
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects