Location Intelligence Market Share Valuation Surges to USD 66.94 Bn By 2032, Propelled by a Remarkable CAGR of 15.3%: Polaris Market Research

NEW YORK, Oct. 3, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Location Intelligence Market Share, Size, Trends, Industry Analysis Report, By Vertical (BFSI, IT & Telecom), By Application (Remote Monitoring, Risk Management), By Service (System Integration, Consulting), And Segment Forecasts, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the global location intelligence market size/share was valued at USD 16.14 Billion in 2022 and is expected to touch USD 66.94 Billion By 2032, growing at a CAGR of 15.3% during the forecast period."

Global Location Intelligence Market: Report Overview

Location intelligence, also known as location awareness, is a technique for gathering information from geographical data to address particular issues in a variety of industries. It uses geographic information system (GIS) tools primarily to offer operational and analytical business solutions. The technology assists organizations and governments in collecting important data sets, such as transactional, point-of-sale, and GPS data required for in-depth geographic analysis.

By utilizing location data derived from customer behaviors, Internet of Things (IoT) data sources, environmental elements, and GPS devices, corporate and government analysts are able to maximize their strategic position. Additionally, the location intelligence market is expanding as strategic decisions are more effective when the public and commercial sectors use spatial analytics to identify patterns and trends that relate to particular company demands.

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• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Covered Are:

• Autodesk
• Bosch Software Innovations
• HERE Technologies
• MDA Corp.
• Navizon
• Pitney Bowes
• Qualcomm Technologies
• Supermap Software
• Tibco Software
• Trimble
• Trueposition, & Wireless Logic

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Location Intelligence Market: Report Scope

Key Growth Driving Factors

• Extensive use of mobile applications: The way services are provided to end users has undergone a considerable change as a result of the widespread use of mobile applications and the sophisticated location-sharing capabilities of mobile devices. By enabling quick and easy product location, the integration of location information with in-store location technology improves the customer experience.
• Enhances business services and products: Location intelligence is an IoT technology that places organizations in a position to identify consumer trends, comprehend consumer behavior, and access a variety of data about niche markets. Businesses may improve their services and goods because of this skill, which also makes it easier to make informed decisions and deal with market uncertainty, which is increasing the location intelligence market demand.
• Increased investments in infrastructure: Numerous business-to-business (B2B) and business-to-consumer (B2C) applications have been made possible by rising infrastructure investments and the adoption of advanced technologies. These include managing customers, facilities, and sales and marketing.

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Recent Trends Influencing the Market

• Adoption of location-based solutions: In order to successfully implement COVID-19 vaccination programs, healthcare, and governmental institutions used location-based systems, which helped public health activities. Additionally, it is anticipated that in the upcoming years, the location intelligence market size will increase due to the growing emphasis on asset management across numerous industry sectors.
• Advantages of location intelligence: Predictive analytics, risk analysis, instant monitoring of patterns and tendencies, and optimization of business operations and services are further benefits of location intelligence. Organizations now have more capacity to collect user data due to the growing trend of digital transformation, which is a development that will likely boost the industry's growth.

Segmental Analysis

• Sales and Marketing Sector Accounts for the Largest Share

Tools for location intelligence are essential for streamlining complex sales and marketing processes. These technologies effectively collect important information needed for marketing campaigns and make it easier to predict outcomes, streamlining the operations in the process. Location intelligence is also essential for remotely managing inventory, temperature in buildings, and energy use.

It also enables monitoring and controlling the workers both inside and outside. Using location intelligence enables businesses to project asset maintenance schedules, monitor employee activity, assess room occupancy, and efficiently manage remote personnel.

• Consumer Goods Sector Witnesses Highest Growth

The fastest growing sector will be consumer goods. This growing location intelligence market trend can be linked to the industry's successful handling of difficulties relating to retail. Predicting store sales, estimating market demand by location and product, profiling drive times and distances, planning site selections, evaluating franchise areas and overlap, analyzing sales and market shares, estimating market demand by location and product, optimizing territories, and profiling customer segments are just a few of the challenges that these problems cover.

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Geographical Overview

North America: The largest portion was held by North America. Throughout the projected period, it is anticipated that this region's growth trajectory will remain the same. In the region, smartphone adoption peaked at 80% in 2022 and has since steadily increased. Additionally, the development of geographic information systems and business intelligence analytics is a major factor in the rise.

Asia Pacific: The location intelligence market in Asia Pacific is expected to grow fastest. To improve the quality of life and lessen the pressures on residents, regional governmental bodies and municipal organizations are improving their services through the analysis of asset location data. As a result, organizations are increasingly implementing location intelligence systems to enhance asset management, reduce processes and boost productivity.

Browse the Detail Report "Location Intelligence Market Share, Size, Trends, Industry Analysis Report, By Vertical (BFSI, IT & Telecom), By Application (Remote Monitoring, Risk Management), By Service (System Integration, Consulting), And Segment Forecasts, 2023 - 2032" with in-depth TOC: https://polarismarketresearch.com/industry-analysis/location-intelligence-market       

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Recent Developments

• The "HERE Anonymizer," a cutting-edge solution for anonymizing location data in self-hosted environments, was introduced by HERE Technologies in July 2023. This cutting-edge technology handles both historical and current location data while maintaining data privacy throughout.
• Qualcomm Technologies unveiled state-of-the-art satellite technologies in June 2023 for improved remote monitoring and asset tracking in the IoT space. These all-encompassing solutions include the satellite-capable Qualcomm 212S Modem and Qualcomm 9205S Modem chipset.

Polaris Market Research has segmented the location intelligence market report based on application, service, vertical, and region:

By Application Outlook

• Workforce Management
• Asset Management
• Facility Management
• Risk Management
• Remote Monitoring
• Sales & Marketing Optimization
• Customer management
• Others

By Service Outlook

• Consulting
• System Integration
• Others

By Vertical Outlook

• Retail and Consumer Goods
• Government & Defense
• Manufacturing & Industrial
• Transportation & Logistics
• BFSI
• IT & Telecom
• Utilities & Energy
• Media & Entertainment

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research