The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

Market Overview

• 2023 Market Size: $15.99 billion
• 2024 Market Size: $18.20 billion
• CAGR: 13.8%

The location intelligence market has seen substantial growth, expanding from $15.99 billion in 2023 to an expected $18.20 billion in 2024. This rapid growth is driven by the rise of digital mapping, the demand for real-time location data, increasing urbanization, a focus on environmental conservation, and the need for location-based fraud detection solutions.

Forecast and Future Growth

• 2028 Market Size: $30.74 billion
• CAGR: 14.0%

The market is poised for continued rapid expansion, projected to reach $30.74 billion by 2028. Key drivers include the increased adoption of location intelligence solutions, growing demand for real-time location data, rising focus on smart cities, and the proliferation of location-based analytics tools. Additionally, the increasing use of location intelligence in agriculture and the integration of emerging technologies like IoT, AI, blockchain, and augmented reality will further propel growth.

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Role of IoT and Connected Devices

• IoT Connections Growth: From 15.7 billion in 2023 to 38.9 billion by 2029
• IoT Devices: Enhance asset tracking and utilization

The adoption of IoT and connected devices is a significant factor driving the growth of the location intelligence market. These devices, embedded with sensors and software, enable real-time location tracking of assets. For instance, global IoT connections are expected to surge from 15.7 billion in 2023 to 38.9 billion by 2029. This growth underscores the importance of IoT in optimizing routes, preventing theft, and ensuring efficient asset utilization.

Competitive Landscape and Innovations

• AI-Powered Solutions: PrivacyCheck by Gravy Analytics
• Major Players: Google LLC, Microsoft Corporation, IBM Corporation, Qualcomm Technologies Inc., and more

Leading companies in the location intelligence market are developing AI-powered solutions to gain a competitive edge. Gravy Analytics, for example, launched PrivacyCheck in October 2022. This AI-powered technology evaluates location-based data, ensuring that sensitive location information is not shared or resold, thus helping organizations maintain privacy while leveraging location intelligence.

Strategic Acquisitions

• Precisely Acquires Transerve: Enhancing geospatial data capabilities

In January 2023, Precisely acquired Transerve, an India-based cloud-native location intelligence provider. This acquisition aims to make geospatial data and analysis more accessible, allowing businesses to gain new insights by integrating location data with other datasets.

Market Segmentation

• By Component: Software, Service
• By Deployment: On-Premise, Cloud
• By Location Type: Indoor, Outdoor
• By Application: Workforce Management, Asset Management, Facility Management, Risk Management, Remote Monitoring, Sales and Marketing Optimization, Customer Management, Other Applications
• 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

The location intelligence market is diverse, with various components, deployment methods, location types, applications, and industry verticals. This segmentation allows for tailored solutions that meet specific business needs across different sectors.

Regional Insights

• North America: Largest market in 2023
• Asia-Pacific: Fastest-growing region during the forecast period

North America dominated the location intelligence market in 2023, while Asia-Pacific is expected to experience the fastest growth. This regional variation highlights the global demand and application of location intelligence solutions, driven by different economic and technological factors.

Conclusion

The location intelligence market is on a rapid growth trajectory, fueled by technological advancements and the increasing adoption of IoT and AI-powered solutions. Strategic acquisitions and innovations by major players are enhancing market capabilities, while diverse applications across various sectors underscore the market’s vast potential. As the market continues to expand, location intelligence will play a crucial role in optimizing operations, improving efficiency, and driving business insights globally.

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The Location Intelligence Global Market Report 2024  provides an overview of the location intelligence market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The location intelligence market forecast analyzes location intelligence market size, location intelligence market share, leading competitor and their market positions.

The Table Of Content For The Location Intelligence Market Include:
1. Location Intelligence Market Executive Summary
2. Location Intelligence Market Segments
3. Location Intelligence Market Size And Location Intelligence Market Growth Rate
4. Key Location Intelligence Market Trends
5. Major Location Intelligence Market Drivers
……
25. Key Mergers And Acquisitions In The Location Intelligence Market
26. Top Location Intelligence Companies
27. Location Intelligence Market Opportunities And Strategies
28. Location Intelligence Market, Conclusions And Recommendations
29. Appendix

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