Press release
Location Intelligence Market to be Worth $67.5 Billion by 2030
Digital transformation has become a key priority for businesses worldwide. The incorporation of location-based technologies and services has become vital due to the outbreak of the COVID-19 pandemic. Location intelligence solutions utilize the geographical location of devices to provide real-time insights to users and help businesses build strategies based on the data acquired. In recent years, location-based solutions have gained significant prominence and have become an integral part of organizations.
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Insights regarding mapping, navigation and tracking, proximity marketing or target marketing, real-time traffic updates, location-specific weather reports, roadside assistance, mobile workforce management, fraud prevention, and other commercial applications are key features offered by location intelligence platforms. These insights are being widely used by businesses across different domains.
In this market study, all recent dynamics associated with location intelligence were thoroughly analyzed to precisely estimate the future of the location intelligence market. This study also includes profiling key location intelligence stakeholders and segmenting them based on their market standings.
Based on offering, in 2023, the solutions segment is expected to account for the larger share of the location intelligence market. The large market share of this segment is attributed to the increasing demand for location intelligence solutions from the transportation & logistics industry for real-time insights and the rising demand for location intelligence platforms to promote proximity marketing across the retail industry. This segment is also projected to register the highest CAGR during the forecast period.
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Based on deployment mode, in 2023, the cloud-based deployment segment is expected to account for the larger share of the location intelligence market. The large market share of this segment is attributed to the increasing transition to cloud infrastructure due to benefits offered by cloud infrastructure, such as ease of adoption, the minimal requirement for in-house infrastructure, high scalability, and easy installation of location intelligence solutions. This segment is also projected to register the highest CAGR during the forecast period.
Based on organization size, in 2023, the large enterprises segment is expected to account for the larger share of the location intelligence market. The large market share of this segment is attributed to the strong IT infrastructure of large enterprises and the growing adoption of advanced technologies to support location intelligence solutions. However, the small and medium-sized enterprises segment is projected to register the highest CAGR during the forecast period.
Based on sector, in 2023, the transportation & logistics segment is expected to account for the largest share of the location intelligence market. The large market share of this segment is attributed to the rising demand for location intelligence solutions from the transportation industry and the increasing usage of GPS vehicle trackers and personal tracking systems. However, the retail & e-commerce segment is projected to register the highest CAGR during the forecast period.
Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the global location intelligence market. The Asia-Pacific region's significant market share can be attributed to the increasing deployments of real-time traffic solutions and the demand for map platforms from the food & beverage industry to deliver fresh products. This regional market is also projected to register the highest CAGR during the forecast period.
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Key Players:
The key players operating in the location intelligence market are Autodesk, Inc. (U.S.), Esri (U.S.), HERE Global B.V. (Netherlands), TIBCO Software Inc. (U.S.), Trimble Inc. (U.S.), Qualcomm Technologies, Inc. (U.S.), Google LLC (U.S.), CartoDB Inc. (U.S.), Cisco Systems, Inc. (U.S.), Pitney Bowes Inc. (U.S.), TomTom N.V. (Netherlands), Hexagon AB (Sweden), Microsoft Corporation (U.S.), Precisely (U.S.), and Cuebiq Inc. (U.S.).
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