San Francisco, 20
September 2018: The global location intelligence market size is anticipated to reach USD 25.25 billion by 2025,
according to a new study by Grand View Research Inc. It is anticipated to
expand at a CAGR of 15.3% over the forecast period. Increasing penetration of
network infrastructure and smart devices coupled with rapid digitization give
organizations access to diverse information about consumers, system
performance, and assets among others. This factor is anticipated to spur the
global location intelligence market. Furthermore, rising demand for location
data to enhance business operations and to deliver personalized services is
expected to further propel market growth.
Location intelligence is
a business intelligence tool capability enabled by data collected from Internet
of Things (IoT) and Geographic Information System (GIS) embedded devices. It
enables businesses to identify consumer trends, buyer behavior, and other
information about niche markets. This helps organizations make informed
decisions, deliver better products and services, and mitigate market
uncertainties. Organizations are incorporating real-time location monitoring
capabilities in various devices, especially smartphones, for monitoring and
recording geographic position of consumers to analyze trends, improve customer
experience, and optimize business operations.
Majority of consumer
electronics manufacturers are incorporating a variety of software and hardware
components to collect consumer data over the internet. This enables them to
target right audience and gain market share. Booming smartphone and smart
devices industry in Asia Pacific (APAC) is expected to drive the market growth.
Steady rise of investments in IoT technologies, number of smartphone users, and
spending on connected devices in APAC countries are predicted to drive the
location intelligence market over the forecast period. However, lack of network
infrastructure, data privacy, awareness about geospatial and predictive
analytics, as well as various operational challenges can hinder market growth.
Access Research Report
of Location Intelligence
Market @ www.grandviewresearch.com/industry-analysis/location-intelligence-market
Further
key findings from the study suggest that:
· North America accounted for the largest
market share in 2017, owing to highest adoption of IoT and presence of key
players, such as Google LLC, Apple Inc., Qualcomm Inc., TIBCO Software Inc.,
ESRI, and HERE
· European Commission is heavily investing in
IoT infrastructure and location intelligence technologies to accelerate market
development in the region
· Asia Pacific is expected to experience
significant growth over the forecast period, owing to rising number of
smartphone users and service providers, enhancement of networking technologies,
and rising use of social media
· Transportation and logistics accounted for
over 19.0% of the location intelligence market in 2017
· Technological advancements in network
communication, position determination techniques, and sensor technologies
enable organizations to adopt various innovative location intelligence tools
· In 2017, sales and marketing optimization
and customer management applications accounted for over 20.0% and 17.0% market
share respectively. These applications enable assessment of spending patterns,
consumer behavior, and forecast sales enabling optimization of profitability.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/technology
Grand View Research has
segmented the global location intelligence market on the basis of application,
service, vertical, and region:
Location Intelligence Application Outlook (Revenue, USD
Million, 2015 - 2025)
·
Workforce Management
·
Asset Management
·
Facility Management
·
Risk Management
·
Remote Monitoring
·
Sales & Marketing Optimization
·
Customer Management
·
Others
Location Intelligence Service Outlook (Revenue, USD
Million, 2015 - 2025)
·
Consulting
·
System Integration
·
Others
Location Intelligence Vertical Outlook (Revenue, USD
Million, 2015 - 2025)
·
Retail & Consumer Goods
·
Government & Defense
·
Manufacturing & Industrial
·
Transportation & Logistics
·
BFSI
·
IT & Telecom
·
Utilities & Energy
·
Media & Entertainment
Location Intelligence Regional Outlook (Revenue, USD
Million, 2015 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Europe
o
U.K.
o
Germany
o
France
o
Italy
o
Spain
o
Russia
·
Asia Pacific
o
India
o
China
o
Japan
o
South Korea
·
South America
o
Brazil
o
Argentina
·
Middle East & Africa (MEA)
Access Press Release of
Location Intelligence Market@ www.grandviewresearch.com/press-release/global-location-intelligence-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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