Location Intelligence Market Size, Share & Trends Analysis Report By Application (Sales & Marketing Optimization, Remote Monitoring), By Service, By Vertical, By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global location intelligence market size was valued at USD 14.0 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 15.6% from 2022 to 2030. The market for location intelligence is primarily driven by the increasing investments in the Internet of Things (IoT) and the growing penetration of smart devices and network services, as it enables smarter applications and better connectivity.

The spread of the COVID-19 pandemic resulted in increased adoption of location intelligence solutions to manage the changing business scenarios. These solutions help businesses analyze, map, and share data in terms of the location of their customers. Additionally, healthcare and government organizations implemented location-based solutions for vaccination drives to carry out successful COVID-19 public health strategies. The use of location analytics is expected to aid enterprises in coping with the uncertainties induced by the pandemic.

Furthermore, the increasing importance of asset management across industries is expected to boost the growth of the location intelligence market over the forecast period. Location intelligence is a subdivision of the IoT technology, which enables businesses to identify customer behavior, consumer trends, and information about niche markets to deliver better products and services, make better decisions, and mitigate the uncertainties in the market.

Spatial analysis or location intelligence offers the ability to place the gathered IoT data within the critical context of “where” and allows combining different & extensive information. Various industries such as automotive, transportation & logistics, manufacturing, and healthcare are discovering the potential uses of location data. Location intelligence offers real-time data processing by helping businesses analyze and identify hidden patterns, relationships, and unique insights that drive better decision-making.

Although the market is anticipated to witness steady growth due to the above benefits, lack of awareness, expertise, and other operational challenges and data privacy concerns are expected to challenge the market growth. Consumers are hesitant about technologies that could lead to personal information- and safety-related risks. Thus, the manufacturers and service providers must implement appropriate security measures for assuring the safety and privacy of customer data.

Application Insights

The sales & marketing optimization segment dominated the global market with a share of 20.10% in 2021 and is expected to continue to dominate over the forecast period. Location intelligence tools reduce the complexity of the sales & marketing processes by gathering adequate relevant data for marketing campaigns and predicting outcomes. Sales professionals use geospatial analytics and data to analyze shopper behavior, improve on-field conversions, and find new leads.

Furthermore, location intelligence helps continuously monitor and manage inventory, energy utilization, and temperature in a facility remotely. It can also help the management trace and monitor the workforce in indoor and outdoor environments. It enables companies to measure occupancy in rooms, estimate maintenance cycle for assets, monitor activities of employees, and manage staff remotely. Thus, increasing operational efficiency with the help of location intelligence tools is expected to drive the growth of the workforce management segment.

Service Insights

The system integration segment dominated the market with a share of 45.73% in 2021 owing to the growing need to integrate new data sources due to the rising penetration of IoT and the increasing location-based data. System integrators help many industries integrate their assets, business processes, and products with location intelligence to collect information that can be further studied to gather meaningful insights. Moreover, they have expertise in understanding and working with spatial and non-spatial data from businesses, open data sources, or commercial data providers.

The consulting segment is expected to expand at a CAGR of 15.4% over the forecast period. This service helps identify and prioritize several business use cases where location intelligence provides significant value. Location intelligence helps businesses collect, analyze, and examine relevant information and offer a more precise opinion to other organizations. The consulting service providers offer personalized services according to the needs in the long, medium, and short term.

Vertical Insights

The transportation & logistics segment accounted for the largest revenue share of 19.13% of the overall market in 2021. Location intelligence helps in understanding the distance and drive times between destinations with precise geographic coordinates and the routable road network. It also provides details on road blockages and actual daily closures on the site. It helps resolve retail challenges, including store sales predictions, drive time & distance profiling, network optimization & scenario modeling, site selection planning, and franchise area evaluation & overlap analysis.

The retail & consumer goods segment is anticipated to record the fastest growth over the forecast period. Location intelligence offers a framework that utilizes site selection techniques such as sophisticated modeling and the “kicking-the-dirt” technique. It helps find the right site for a distribution center, store, and service center. In the government and defense sector, location intelligence improves the assessment of total human & natural resources and the development of resources that are available to fulfill the needs of people more efficiently.

Regional Insights

North America accounted for over 30% revenue share in 2021 and is expected to grow steadily over the forecast period. The penetration of smartphones in the region was around 80% in 2021 and is steadily increasing. Moreover, the strong presence of the key providers of IoT technologies and location intelligence is expected to boost the North American market growth. The European market is also expected to witness considerable growth, driven by rapid business intelligence analytics and geographic information systems technology development. 

The Asia Pacific region is expected to expand at the highest CAGR over the forecast period owing to the growing number of smartphone users, increasing number of service providers, enhancement of networking technologies, and rise in social media. In this region, government and municipal corporations are improving their services by analyzing information about asset location to deliver a better standard of living and ease citizens' workload. Thus, companies are opting for location intelligence tools for improving asset management to make operations more efficient.

Key Companies & Market Share Insights

Companies can adopt location tracking solutions to monitor and track their employees and what they encounter. Additionally, location analytics can help define spatial boundaries to restrict inter-team communication within an organization. The market players adopt inorganic growth strategies such as partnerships, geographic expansion, and mergers & acquisitions to sustain in the competitive market. For instance, in July 2021, Wireless Logic acquired Things Mobile, an IoT connectivity provider, to strengthen its presence in the European market.

Apart from inorganic strategies, companies invest in research & development to develop technologically advanced and differentiated tools to gain a competitive edge. Companies invest in various technologies to get information regarding past purchases, spending patterns, customer loyalty, and location information. A detailed analysis of this information enables companies to create a single view of each customer. Based on the analysis and customer location information, they can deliver timely, relevant, and personalized offers to every customer. Some prominent players in the global location intelligence market include:

• Autodesk, Inc.

• Bosch Software Innovations GmbH

• Cuebiq Inc.

• ESRI

• HERE Technologies

• MDA Corporation

• Navizon, Inc.

• Precisely

• Qualcomm Technologies, Inc

• Supermap Software Co., Ltd

• Tibco Software, Inc.

• Trimble, Inc.

• Trueposition, Inc.

• Wireless Logic

Location Intelligence Market Report Scope

Segments Covered in the Report

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global location intelligence market report based on application, service, vertical, and region.

• Application Outlook (Revenue, USD Million, 2018 - 2030)

  • Workforce Management

  • Asset Management

  • Facility Management

  • Risk Management

  • Remote Monitoring

  • Sales & Marketing Optimization

  • Customer Management

  • Others  

• Service Outlook (Revenue, USD Million, 2018 - 2030)

  • Consulting

  • System Integration

  • Others

• Vertical Outlook (Revenue, USD Million, 2018 - 2030)

  • Retail & Consumer Goods

  • Government & Defense

  • Manufacturing & Industrial

  • Transportation & Logistics

  • BFSI

  • IT & Telecom

  • Utilities & Energy

  • Media & Entertainment

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • U.K.

    • Germany

    • France

    • Spain

    • Italy

    • Russia

    • Rest of Europe

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Rest of Asia Pacific

  • South America

    • Brazil

    • Argentina

    • Rest of South America

  • Middle East & Africa (MEA)