Market Overview
The global location intelligence market size was valued at USD 13.8 billion in 2020 and is expected to grow at a CAGR of 17.6% from 2023 to 2032.
The growing demand for spatial data analytics and increasing adoption of location-based services are driving the growth of the location intelligence market. Additionally, the availability of low-cost GPS-enabled devices, the proliferation of IoT devices, and the increasing use of location intelligence in the retail and transportation industries are also contributing to market growth.
Overall, the location intelligence market is a rapidly growing industry, driven by factors such as increasing adoption of location-based services and the growing demand for spatial data analytics. The market is characterized by segmentation by component, application, deployment mode, organization size, industry vertical, and geography, and is dominated by key players such as Esri, Google, and IBM Corporation.
Use Cases
Location intelligence is being used by businesses and organizations across various industries to gain insights from location-based data. Here are some of the key use cases of location intelligence:
Retail Industry:
In the retail industry, location intelligence is being used for site selection, customer segmentation, and supply chain optimization. By analyzing location data, retailers can identify areas with high foot traffic, track customer behavior patterns, and optimize inventory management.
Transportation Industry:
In the transportation industry, location intelligence is being used for real-time vehicle tracking, route optimization, and predictive maintenance. By leveraging location data, transportation companies can optimize routes, reduce fuel consumption, and improve fleet management.
Healthcare Industry:
In the healthcare industry, location intelligence is being used for patient monitoring, disease tracking, and healthcare resource allocation. By analyzing location data, healthcare providers can track disease outbreaks, identify areas with high healthcare demand, and optimize resource allocation.
Real Estate Industry:
In the real estate industry, location intelligence is being used for property valuation, site selection, and risk assessment. By analyzing location data, real estate companies can identify areas with high growth potential, track market trends, and optimize property management.
Government and Public Sector:
In the government and public sector, location intelligence is being used for urban planning, disaster management, and crime prevention. By analyzing location data, government agencies can identify areas prone to natural disasters, track crime patterns, and optimize emergency response.
Agriculture Industry:
In the agriculture industry, location intelligence is being used for precision farming, crop yield optimization, and soil analysis. By leveraging location data, farmers can optimize crop production, reduce input costs, and improve sustainability.
Global Location Intelligence Market: Major PlayersWe Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
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One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached Straits Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2028.
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