The global location intelligence market size is anticipated to grow from USD 18.99 billion to USD 85.60 billion in 10 years. The market will experience rapid growth due to technological advancements in location intelligence during the forecast period.
Newark, Sept. 12, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 18.99 billion in 2023 global location intelligence market will reach USD 85.60 billion in 2033. Location intelligence is becoming increasingly important across various sectors, creating lucrative opportunities for service providers in this field. The growing demand for sophisticated location intelligence products and services is driven by the increasing frequency of “near me” searches and the widespread use of Internet of Things (IoT) devices and smartphones. Businesses and retailers can leverage the data provided by these devices to gain insights into local demographic trends, allowing them to refine their advertising and business strategies. The market for location intelligence is expected to grow significantly in the coming years, with businesses using it to monitor customer behaviour and implement location-based advertising.
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The long-term demand for location intelligence is further fuelled by the growing adoption of advanced technologies such as artificial intelligence, machine learning, and predictive analytics. These technologies enable organizations to gain deeper insights and make more informed decisions, which are crucial for urbanization, digitization, and improving customer service. However, the market faces challenges, such as the high costs of initial implementation and concerns about data security and privacy. Despite these challenges, the increasing adoption of location intelligence across various sectors, including energy, manufacturing, and transportation, is expected to drive market growth.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $ 18.99 Billion |
| Market Size in 2033 | $ 85.60 Billion |
| CAGR | 16.25% |
| No. of Pages in Report | 238 |
| Segments Covered | Service, Vertical, Application |
| Drivers | Increased demand for competitive edge across industries |
| Opportunity | More widespread usage in small and medium-sized businesses |
| Restraints | Early implementation costs have become expensive |
Key Insight of the Global Location intelligence Market
North America will dominate the market during the forecast period.
In 2023, North America held the largest share of the global location intelligence market, accounting for 32.89% of market revenue. The region is expected to see steady growth due to the rising number of smartphones and the ongoing adoption of location intelligence technologies. This trend is likely to continue as more businesses recognize the value of location-based insights in improving their operations and customer engagement strategies.
In 2023, the system integration segment dominated the market with the largest market share of 35.26% and revenue of 6.69 billion.
The service segment is divided into system integration, consulting, and others. In 2023, the system integration segment dominated the market with the largest market share of 35.26% and revenue of 6.69 billion.
In 2023, the transportation and logistics segment dominated the market with the largest market share of 16.35% and revenue of 3.10 billion.
The vertical segment is divided into government & defense, transportation & logistics, IT & telecom, media & entertainment, retail and consumer goods, BFSI, manufacturing & industrial, and utilities & energy. In 2023, the transportation and logistics segment dominated the market with the largest market share of 16.35% and revenue of 3.10 billion.
In 2023, the sales and marketing segment dominated the market with the largest market share of 16.82% and revenue of 3.19 billion.
The application segment is divided into asset management, risk management, sales & marketing optimization, workforce management, remote monitoring, facility management, customer management, and others. In 2023, the sales and marketing segment dominated the market with the largest market share of 16.82% and revenue of 3.19 billion.
Advancement in market
DigiSite, Ziosk’s newest product offering, has been launched. Ziosk is a leading digital hospitality platform for restaurants and the pioneer of pay-at-the-table. This innovative software makes businesses smarter and more efficient by utilising the best location intelligence available, providing customers with the best possible experience in the shortest amount of time. This state-of-the-art app plugin seamlessly automates company operations, enabling rapid deployment and next-generation capabilities. DigiSite is the most accurate spatial location technology on the market today, with accuracy down to an 18-inch radius. It synchronises with visitors’ applications in real-time to meet them where they are. It makes it possible for an infinite number of actions to be initiated automatically both within and outside of a location.
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Market Dynamics
Driver: The increasing need for a competitive edge.
The increasing need for a competitive edge is pushing organizations to adopt location-based analysis products and services. These solutions are used for various projects, such as climate change modelling, weather monitoring, and human population forecasting, enabling organizations to make well-informed decisions.
Restraints: The high costs associated with early implementation of location intelligence solutions.
The high costs associated with early implementation of location intelligence solutions remain a significant barrier to market growth. Additionally, the need for skilled technical staff to operate these systems adds to the overall cost, making the return on investment (RoI) a concern for many businesses.
Opportunities: Small and medium-sized enterprises (SMEs) are recognizing the benefits of geospatial analytics.
Small and medium-sized enterprises (SMEs) are recognizing the benefits of geospatial analytics, such as maintaining control over geographical data and improving business agility and scalability. The increasing use of IoT devices is expected to generate vast amounts of location-based data, which SMEs and analytics providers can use to enhance their business operations.
Challenges: A lack of skilled workers and knowledge gap.
A lack of skilled workers and knowledge gaps pose challenges to the integration of location intelligence data with business tools like CRM and ERP systems. The unstructured nature of geographic data requires advanced spatial data management systems, and the lack of expertise in AI, deep learning, big data, and blockchain technologies further complicates the use of location intelligence solutions.
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Some of the major players operating in the global location intelligence market are:
• Bosch Software Innovations GmbH
• HERE Technologies
• Navizon, Inc.
• Qualcomm Technologies, Inc.
• Tibco Software, Inc.
• Trueposition, Inc.
• Autodesk, Inc.
• MDA Corp.
• Supermap Software Co., Ltd.
• Wireless Logic
• ESRI
• Trimble, Inc.
• Pitney Bowes, Inc.
Key Segments covered in the market:
By Service
• System Integration
• Consulting
• Others
By Vertical
• Government & Defense
• Transportation & Logistics
• IT & Telecom
• Media & Entertainment
• Retail and Consumer Goods
• BFSI
• Manufacturing & Industrial
• Utilities & Energy
By Application
• Asset Management
• Risk Management
• Sales & Marketing Optimization
• Workforce Management
• Remote Monitoring
• Facility Management
• Customer management
• Others
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client’s objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client’s requirements whether they are looking to expand or planning to launch a new product in the global market.
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