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Leading Growth Driver in the Location Intelligence Market in 2025: The Role Of IoT And Connected Devices Is Driving The Growth Of The Location Intelligence Market Driver's Influence
Location Intelligence Market Outlook
The location intelligence market will grow from $18.2 billion in 2024 to $20.77 billion in 2025, at a CAGR of 14.1%. Growth drivers include digital mapping, real-time location data, urbanization, environmental conservation, and location-based fraud detection solutions.
The location intelligence market is expected to grow to $34.99 billion by 2029, driven by the adoption of location intelligence solutions, real-time data, smart city development, and agricultural applications. Trends include IoT integration, AI-powered platforms, blockchain technology, AR, and cloud solutions.
What Is Contributing to the Growth of the Location Intelligence Market?
The increasing adoption of IoT and connected devices is expected to drive the location intelligence market. IoT devices, equipped with sensors and software, allow for the collection and exchange of data, providing insights into asset locations. With the rise in IoT device adoption, including location sensors for tracking vehicles and inventory, location intelligence systems are able to optimize routes, prevent theft, and enhance asset utilization. According to Ericsson (September 2023), global IoT connections reached 15.7 billion in 2023, with an expected 16% increase to 38.9 billion by 2029. Additionally, the GSM Association projected a surge to 23.3 billion IoT connections by 2025. Therefore, the rising adoption of IoT and connected devices is propelling the growth of the location intelligence market.
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Which Key Market Leaders Are Driving Location Intelligence Industry Growth?
Major companies operating in the location intelligence market report are Google LLC; Microsoft Corporation; IBM Corporation; Qualcomm Technologies Inc.; Uber Technologies Inc.; Nokia Corporation; Baidu Inc.; Hexagon AB; Autodesk Inc.; Lyft Inc.; Trimble Inc.; Pitney Bowes Inc.; Esri Inc.; TIBCO Software Inc.; Liberty Broadband Corporation; Alteryx Inc.; MDA Corporation; TomTom International B.V.; INRIX Inc.; Mapbox; SpotHero Inc.; CARTO; Cuebiq Inc.; Navizon Inc.; Foursquare Labs Inc.
Which Key Developments Are Influencing the Location Intelligence Market?
In the location intelligence market, key companies are developing AI-driven solutions like PrivacyCheck to maintain a competitive edge. PrivacyCheck uses AI algorithms to assess location-based data and offer valuable insights for businesses. For example, in October 2022, Gravy Analytics, a US-based provider of location business intelligence, launched PrivacyCheck. This tool helps organizations ensure that location data from sensitive areas isn't shared or sold. PrivacyCheck's key features include helping organizations find and eliminate sensitive location data from their systems, integrating seamlessly into existing setups, and meeting specific privacy needs without disclosing precise location data to Gravy.
What Are the Main Segments in the Location Intelligence Market?
The location intelligence market covered in this report is segmented -
1) By Component: Software, Service
2) By Deployment: On-Premise, Cloud
3) By Location Type: Indoor, Outdoor
4) By Application: Workforce Management, Asset Management, Facility Management, Risk Management, Remote Monitoring, Sales And marketing Optimization, Customer Management, Other Application
5) By Vertical: Retail And Consumer Goods, Government And Defense, Manufacturing And Industrial, Transportation And Logistics, Banking, Financial Services, and Insurance (BFSI), Information Technology (IT) And Telecom, Utilities And Energy, Media And Entertainment
Subsegments:
1) By Software: Geospatial Software, Data Analytics Software, Location-Based Analytics Software
2) By Service: Consulting Services, Integration Services, Support And Maintenance Services
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Which Geographic Area Leads the Location Intelligence Market?
North America was the largest region in the location intelligence market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the location intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Location Intelligence Global Market Report?
- Market Size Analysis: Analyze the Location Intelligence Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Location Intelligence Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Location Intelligence Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Location Intelligence Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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