What Has Been the Growth of the Location Intelligence Market So Far?
The location intelligence market has seen considerable growth due to a variety of factors.
• Advancements in the location intelligence market have led to an accelerated expansion in its size over recent years. The market is projected to increase from $18.2 billion in 2024 to $20.77 billion in 2025, registering a compound annual growth rate (CAGR) of 14.1%.
Factors contributing to the historic growth include the surge in digital mapping, the requirement for real-time location information, escalating urbanization, a growing emphasis on conserving the environment, and heightened demand for location-centric fraud detection solutions.
How Will the Location Intelligence Market?
The location intelligence market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of location intelligence is projected to experience swift expansion in the coming years, predicted to reach $34.99 billion by 2029, with a compound annual growth rate (CAGR) of 13.9%.
The forecasted growth could be a result of the rising adoption of location intelligence tools, escalating real-time location data demand, growing concentration on smart cities, increasing use of location-based analytics programs, and an upsurge in the employment of location intelligence in the farming sector. The forecast period is expected to witness significant trends like the integration of the Internet of Things, AI-driven location intelligence platforms, the application of blockchain technology, location-based augmented reality, and the adoption of cloud-based solutions.
Which Factors Are Boosting Growth In The Location Intelligence Market?
The uptick in the usage of IoT and connected devices is anticipated to spur the location intelligence market's expansion in the future. IoT and connected devices represent a network of tangible devices embedded with sensors, software, and connectivity options, enabling them to gather and share data. The growing acceptance of these technologies can be attributed to technological breakthroughs, cost savings, data-dependent insights, industry adoption, and the consumer's need for convenience. IoT devices equipped with location sensors monitor the precise location of commodities like vehicles, equipment, or stock in real-time. Location intelligence systems assess this data to manage asset movement, streamline routes, deter theft or loss, and promote efficient asset usage. For example, a report published by Ericsson, a Swedish telecommunications company, revealed that there were 15.7 billion global IoT connections in September 2023. The report also projects a 16% increase in the number of connections, reaching 38.9 billion by 2029. Moreover, data from the GSM Association, a UK-based non-profit industry organization, showed a significant increase in global IoT connections from 15.1 billion in 2021 to an estimated 23.3 billion by 2025. This trend indicates that the increasing use of IoT and connected devices is fueling the advancement of the location intelligence market.
What Key Areas Define The Segmentation Of The Global 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
Pre-Book The Location Intelligence Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Reshaping The Future Of The Location Intelligence Market?
Firms prominent in the location intelligence market are prioritizing the creation of AI-fueled location intelligence tools, such as PrivacyCheck, to establish their competitive position. PrivacyCheck is a sophisticated location intelligence solution powered by AI, employing AI algorithms to analyze location-dependent information and offer valuable insights to institutions and businesses. For example, Gravy Analytics, a stateside firm specializing in location-based business intelligence, inaugurated PrivacyCheck, an essential element of location intelligence technology, in October 2022. This innovation aids corporations in safeguarding location data produced in delicate areas from being disseminated or traded. Key attractions of PrivacyCheck consist of its capacity to assist organizations in identifying and purging sensitive location data from their systems, seamless integration with customers' existing systems without necessitating specific location data sharing with Gravy, and options for customization that facilitate customers to meet their precise privacy requirements.
Who Are the Key Players In The Location Intelligence Market?
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.
What Is The Most Dominant Region In 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.
