The location intelligence market is expected to experience impressive growth, with a remarkable Compound Annual Growth Rate (CAGR) of 15.8% projected from 2023 to 2033. This suggests that the market for location-based data and insights is set to expand significantly over the next decade, offering valuable opportunities and insights for businesses and industries worldwide.
In the banking, financial services, and insurance (BFSI) industry, location intelligence is becoming more popular for detecting fraud, highlighting legitimate charges, and advertising unique offers. Commercial venues like stadiums, resorts, and airports also offer way-finding alerts, quicker product delivery, and efficient queue management to improve the consumer experience.
As a result of increasing awareness of its benefits, location intelligence is increasingly being used in charging stations for Electric Vehicles (EVs), 5G networks, and drone analytics. The education and training sector requires professionals who are capable of selecting health clinic sites and improving recruitment processes.
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The increasing popularity of location-based applications and web mapping services is expected to accelerate market growth. As more businesses around the world are seeking predictive analysis tools and utilizing spatial data. As a result, this market is expected to grow rapidly. Also, social media is becoming increasingly popular as a means of engaging with customers and providing direct feedback.
Key Takeaways from Location Intelligence Market Report:
- The location intelligence market is expected to record a CAGR of 15.8% over the forecast period.
- It is estimated that the location intelligence market in North America is expected to remain strong during the forecast period, with 33% of total revenue.
- Sales & Marketing Optimization applications is likely to dominate the global market with a share of more than 19.5%.
- The system integration category segment dominated the industry and accounted for over 45% of the total market revenue.
- It is expected that the market in China is likely to demonstrate a high level of growth by 2033.
Leading Key Players:
- Autodesk Inc.
- Tibco Software Inc.
- ESRI
- MDA Corporation
- Trueposition Inc.
- Bosch Software Innovations GmbH
- Qualcomm Technologies Inc.
- Wireless Logic
- HERE Technologies
- Trimble Inc.
- Supermap Software Co. Ltd.
- Navizon Inc.
- Pitney Bowes Inc.
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Recent Developments:
- In January 2023, Incognia, a location identity organization, launched an innovative feature called Suspicious Locations. This enhanced feature uses precise location signals to identify suspicious locations by combining them with devices. According to the company, suspicious locations are places where perilous devices gather.
- Trimble collaborated with Infotech in April 2022 to streamline the civil infrastructure inspection process by integrating Trimble’s Access field software with Infotech’s Appia service. By integrating Trimble’s Access field software with Infotech’s Appia service, this collaboration was intended to simplify the inspection process. It would also streamline the workflow from survey to construction by providing precise measurement workflows.
- With PrecisionHawk’s advanced artificial intelligence combined with Esri’s ArcGIS technology, Esri and PrecisionHawk entered a partnership in March 2022, and brought geospatial intelligence to the world. By integrating PrecisionHawk’s AI with Esri’s ArcGIS technology, location intelligence becomes more relevant, accurate, and useful.
- In March 2022, Autodesk released the updated collaboration capability Autodesk Bridge. With this product, teams can share files, sheets, folders, and other relevant information within any project. The streamlined solution eliminates the need for manual data transfer and management.
- FieldLink MR, a mixed-reality solution from Trimble, was launched in February 2022. By using an innovative way to conduct construction layouts, staff can navigate to tasks on the job site more efficiently in less time with this updated solution. It is compatible with Trimble XR10 and HoloLens 2
Location Intelligence Market Segmentation:
By Vertical:
- BFSI
- Government & Defense
- Retail & Consumer Goods
- IT & Telecom
By Application:
- Workforce Management
- Asset Management
- Facility Management
- Risk Management
- Remote Monitoring
- Sales & Marketing Optimization
- Customer management
By Service:
- System Integration
- Consulting
By Region:
- North America
- Latin America
- Europe
- The Middle East and Africa
- East Asia
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