Location Intelligence Market Growth in Security, Privacy, and Accuracy Issues

According to this latest publication from Meticulous Research®, the location intelligence market is projected to reach $67.5 billion by 2030, at a CAGR of 12.9% during the forecast period. The growth of the location intelligence market is driven by the proliferation of location-based solutions in the retail sector, the increased use of spatial data and analytics across end-use industries, and the increasing importance of asset management across the industrial sector. However, dynamic government rules and regulations for public safety and the lack of awareness and spatial intelligence expertise may restrain the market's growth.

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Furthermore, the increasing adoption of drones for various applications and the constant upgrades in mapping and navigation solutions are expected to offer significant growth opportunities for the location intelligence market. However, high procurement and implementation costs and security, privacy, and accuracy issues may hinder the growth of this market.

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.).

Meticulous Research® has segmented this market based on offering, deployment mode, organization size, sector, and geography for efficient analysis. The study also evaluates industry competitors and analyzes the market at the regional and country levels.

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 rising demand for location intelligence solutions from the transportation & logistics industry for real-time insights, the increasing incorporation of location-based solutions to offer automated driving experience and navigation services, and the rising demand for location intelligence platforms to promote proximity marketing across the retail industry.

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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 rising adoption of cloud computing and storage systems from small & medium-sized enterprises and the increasing transition to cloud infrastructure due to benefits offered by cloud infrastructure, such as the ease of adoption, the minimal requirement for in-house infrastructure, high scalability, and easy installation of location intelligence solutions.

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, the growing adoption of advanced technologies to support location intelligence solutions, and the development of strategic IT initiatives.

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 across the transportation industry, increasing usage of GPS vehicle trackers and personal tracking systems, and increasing deployments of location intelligence solutions by leading LBS players.

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Based on geography, in 2023, Asia-Pacific is expected to account for the largest share of the Location Intelligence market. The Asia-Pacific region's major market share can be attributed to various factors, including the increasing deployments of real-time traffic solutions, increasing demand for map platforms by the food &beverage industry to deliver fresh products, and increasing government initiatives to implement location-based technologies across various sectors.

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This release was published on openPR.