Location Intelligence Market to Record 4X Growth through 2029, on Back of Digital Literacy in Emerging Economies
Adoption from innovative business models that integrate location intelligence with advanced technologies is giving birth to a democratized location intelligence market.
Consumer demand for convenient services will boost the adoption of location intelligence services.
Prevalence of ‘near me’ queries on search engines validate the need and demand for location intelligence by developer and consumer communities.
Location intelligence enables software to customize user experience based on their current location.
The global location intelligence market will grow 4X from 2019 to 2029. Booming digital payments warrants that mobile applications and websites record location information for crucial transactions.
For instance, location tags in financial transactions help consumers detect fraudulent, and unauthorized transactions.
The lack of digital literacy in emerging digital markets will impel the demand for location intelligence services during the forecast period.
The global navigation satellite system (GNSS) offers a strong infrastructure for location intelligence companies to integrate location based services.
Sales & Marketing Optimization to Remain Key Use-cases, Consulting Services to Exhibit High Growth
Sales and marketing optimizations of location intelligence constitute the largest market share with over 20% of the total market revenues.
Digital advertising has augmented marketing campaigns to devise location specific triggers that attract, engage, and delight consumers.
Marketers are utilizing location intelligence services to conduct customer surveys, share offers and discounts.
Supportive technologies such as geo-fencing further propel the adoption of location intelligence services in this segment.
The sales & marketing applications of location intelligence poise this segment as the fastest growing segment with over 14% CAGR during the forecast period.
By services, consulting will witness a quantum leap and exhibit dexterous growth over the forecast period.
Through consulting, location intelligence is providing companies with the requisite assistance to analyze and examine relevant information and give appropriate feedback to other organizations.
Some companies are also soliciting advice for integrating their business processes and location intelligence tools.
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Market in Developed Regions to Witness Quantum Leap
North America and Europe, collectively account for more than 56% of the total market value. The compounded annual growth rate of all six regions are stupendous double digits.
This points to the fact that location intelligence is a corner stone technology of the coming decade. Market players must invest in developing products that offer prodigious leaps in data security.
Data privacy is the central differentiating factor for location intelligence products. The highest double digit growth can be ascribed to South Asia & Oceania (SEAO) that offers remunerative growth opportunities with over 18.4% CAGR through 2029.
SEAO countries such as Indonesia are witnessing a boom in digital economy. The country has unicorn start-ups propelling location intelligence applications in various end-use industries.
Greater Emphasis on Enhanced Data Security
Software as a Service (SaaS) products such as online food delivery, and transportation mobile apps are a central factor that are driving growth of the market.
These apps are location dependent to ensure smoother user experiences. For instance, Uber, the popular transportation mobile app, employs location intelligence to match users with cabs based on proximity.
Similarly, Zomato, the popular food delivery app utilizes location intelligence to display restaurants based on delivery time.
Location intelligence has become an industry standard in mobile apps, almost every mobile app asks for location access permissions to enhance the user experience.
Innovation and development of security measures will shape the competitive landscape during the forecast period.
Major market players in the location intelligence market include, but not limited to
- Wireless Logic
- HERE Technologies
- Trueposition Inc.
- Navizon Inc.
- Bosch Software Innovations GmbH
- Pitney Bowes Inc.
- Tibco Software Inc.
- Trimble Inc.
- Qualcomm Technologies Inc.
- MDA Corporation
- Supermap Software Co. Ltd
- Autodesk Inc.
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Global Location Intelligence Market: In-Depth Assessment on Key Segments
The global location intelligence market is segmented on the basis of application, services, end use and region.
This taxonomy and the detailed TOC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Country-specific assessment on demand for location intelligence has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous location intelligence manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries.
The market has been forecasted based on constant currency rates.
The report provides detailed competitive and company profiles of key participants operating in the global location intelligence market.
Global Location Intelligence Market – Scope Of The Report
The following report provides forecast and analysis of the global location intelligence market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn) and, according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global location intelligence market along with several macro-economic indicators.
This newly published and insightful report on location intelligence sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global location intelligence market.
The report also comprises the study of current issues with end users and opportunities for location intelligence. It also contains value chain analysis, including the key market participants.
To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of location intelligence manufacturers on parameters such as total revenue, product offerings, and key strategies.
A list of key companies operating in the location intelligence market provided in the report adds to the credibility of this exhaustive research study.
Global Location Intelligence Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the location intelligence market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the location intelligence market, which includes global GDP growth rate, various sectors growth rate such as BFSI, Retail and Consumer Goods, Government & Defense, IT & Telecom and others.
This report serves as an authentic resource of intelligence on the location intelligence market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
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