Location Intelligence Market Size, Share & Trends Analysis Report By Vertical (BFSI, IT & Telecom), By Application (Remote Monitoring, Risk Management), By Service (System Integration, Consulting), And Segment Forecasts, 2023 - 2030

Report Overview

The global location intelligence market was estimated at USD 16.09 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 15.6% from 2023 to 2030. The industry is mainly driven by the growing penetration of smart devices and increasing investments in IoT and network services as it facilitates smarter applications and better network connectivity. The COVID-19 pandemic resulted in the increased adoption of location intelligence solutions to manage the changing business scenario as it helps businesses to analyze, map, and share data in terms of the location of their customers.

In addition, healthcare and government organizations implemented location-based solutions for vaccination drives to carry out successful COVID-19 public health strategies. Furthermore, the growing surge of asset management across industry verticals is expected to boost the demand for location intelligence over the forecast period. Location intelligence is a subpart of the IoT technology that makes businesses identify consumer trends, consumer behavior, and different information about niche markets to deliver better services and products, for better decisions and mitigate the uncertainties in the market.

Further benefits of location intelligence include risk management, predictive analytics, real-time tracking of trends and patterns, and streamlining the operations and services of companies. Moreover, rising digitalization has enabled organizations to collect user information, which is anticipated to spur industry growth further. Enhancing customer experience is one of the significant factors influencing the growing adoption of location intelligence. Increasing investments in infrastructure and the adoption of new technologies have resulted in several business-to-business (B2B) and business-to-consumer (B2C) applications, such as sales & marketing, customer management, and facility management.

The excessive use of mobile applications and enhanced location-sharing capabilities of mobile devices have revolutionized the way services are being delivered to the end-users. Location intelligence and in-store location technology enhance the customer experience by helping them locate the products they need quickly and efficiently. Furthermore, increasing investments in IoT is another crucial factor that has propelled industry growth. IoT is a rapidly growing network of internet-enabled gadgets, which can capture a vast amount of data with moving & fixed sensors. The processing of this captured data in real time is crucial for modern analytics in public or private services.

Spatial analysis or location intelligence allows placing these data within the critical context of ‘where’ and allows tying this extensive information together. 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 industry is anticipated to record steady growth due to the benefits above, lack of awareness, expertise, and other operational challenges and data privacy concerns are expected to challenge growth.

Consumers are hesitant about technologies that could lead to personal information and safety-related risks. This factor also hinders market growth. Thus, manufacturers and service providers must implement appropriate security measures to assure the safety and privacy of a customer’s data. The changing scenario of how businesses are conducted across the globe has urged companies across various industries to adopt the technology. Location technology is one of the significant additions to business operations post-pandemic—the use of location analytics aids enterprises in coping with the uncertainties induced by the pandemic. As a result, the market experienced an elevated demand in 2020 and is expected to grow significantly over the forecast period.

Application Insights

The sales & marketing optimization application segment dominated the global industry in 2022 and accounted for the maximum share of more than 20.00% of the overall revenue. The segment is expected to continue its dominance over the forecast period. On the basis of applications, the industry has been segmented into asset management, facility management, workforce management, risk management, sales & marketing optimization, remote monitoring, customer management, and others. Location intelligence tools reduce the complexity of the sales and marketing processes by gathering enough relevant data for the marketing campaigns and predicting the outcomes.

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

Service Insights

Based on services, the global industry has been further categorized into consulting, system integration, and others. The system integration category segment dominated the industry and accounted for the maximum share of more than 45.95% of the overall revenue. The segment growth is driven by the rising need to integrate new data sources with the increasing penetration of IoT and 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, system integrators have expertise in understanding and working with spatial and non-spatial data businesses, open data sources, or commercial data providers.

For instance, Korem company has complete experience in building solutions that integrate data from loads of databases and systems, breaking data warehouses while accelerating the business insights that appear from geospatial solutions. The consulting segment is estimated to grow at a rate of around 16% during the forecast period. This service helps identify and prioritize several business use cases where location intelligence provides significant value. Location intelligence assists in consulting the companies to collect, analyze, and examine relevant information and offer a more precise opinion to other organizations. Various end-use industries take advice to integrate location intelligence tools with their business activities from IoT consulting and location intelligence firms.

Vertical Insights

The transportation & logistics segment dominated the industry in 2022 and accounted for the largest share of more than 19.05 of the overall revenue. Location intelligence helps in understanding the distance and drive times between destinations with precise geographic coordinates and the current routable road network, which increased its usage in the transportation & logistics segment. Also, it offers various routes to reach the goal with drive time and real-time traffic analysis. It also provides road blockages and actual daily closures on the site. Location Intelligence solves retail challenges, including store sales predictions, drive time & distance profiling, network optimization & scenario modeling, site selection planning, franchise area evaluation & overlap analysis, sales & market share analysis, market size & demand estimation by location/product, territory optimization & planning, and customer segmentation & profiling.

The retail and consumer goods segment is anticipated to record the fastest growth rate over the forecast period. The reason for the segment growth is solving retail challenges, including store sales predictions, drive time & distance profiling, network optimization & scenario modeling, site selection planning, franchise area evaluation & overlap analysis, sales & market share analysis, market size & demand estimation by location/product, territory optimization & planning, and customer segmentation & profiling. 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.

Regional Insights

North America dominated the industry in 2022 and accounted for the largest share of more than 33.00% of the overall revenue. It is expected to grow steadily over the forecast period. The penetration of smartphones in North America was around 80% in 2022 and is steadily increasing. Thus, the regional market is anticipated to grow at a steady pace. Similarly, the market in Europe is also expected to record healthy growth, driven by rapid business intelligence analytics and geographic information systems technology expansion. Asia Pacific is expected to register the fastest 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 the popularity of social media.

Several businesses and service providers are introducing new products and services to increase their share in developing markets. In the APAC region, governments and municipal corporations are improving their services by analyzing information about asset locations 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, which is expected to increase the demand for location intelligence. Therefore, the regional market is expected to grow at the fastest higher CAGR from 2023 to 2030.

Key Companies & Market Share Insights

Companies can adopt location-tracking solutions to monitor and track their employees and what they come in contact with. In addition, location analytics can help define spatial boundaries to restrict inter-team communication within an organization. Companies adopt inorganic growth strategies, such as partnerships, geographical expansion, and mergers & acquisitions, to sustain 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. Things Mobile delivers connectivity solutions for global customers across many IoT applications.

Companies also invest in R&D 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 of the prominent players in the global location intelligence market include:

• Autodesk, Inc.

• Bosch Software Innovations GmbH

• ESRI

• HERE Technologies

• MDA Corp.

• Navizon, Inc.

• Pitney Bowes, Inc.

• Qualcomm Technologies, Inc.

• Supermap Software Co., Ltd.

• Tibco Software, Inc.

• Trimble, Inc.

• Trueposition, Inc.

• Wireless Logic

Recent Developments

• In July 2023, HERE Technologies introduced HERE Anonymizer, an enterprise-grade location data anonymization tool for implementation in self-hosted environments. This advanced solution processes both historical and real-time location data while preserving data privacy. 

• In July 2023, Trimble announced the launch of Trimble Terra Office add-in. This innovative solution is part of Trimble's TerraOffice suite of desktop solutions for the integration of TerraFlex field data collection software with the GIS systems of record, which highlights the crucial role of location intelligence capabilities.

• In June 2023, Qualcomm Technologies, Inc. announced the launch of advanced IoT-driven satellite solutions for seamless remote monitoring & asset tracking. These solutions include the Qualcomm 212S Modem and the Qualcomm 9205S Modem modem chipsets with satellite capabilities.

• In May 2023, Autodesk unveiled Autodesk Forma for cloud-driven next-gen building design. With a continued expansion of capabilities, Autodesk Forma has the potential to further boost location intelligence in the architecture, engineering, construction, and operations industry by streamlining automation, data, and machine learning to optimize the design process and accomplish sustainable results.

• In May 2023, MDA Ltd. announced its collaboration with Thoth Technology Inc. with the intent to develop a made-in-Canada deep space radar surveillance & space domain awareness (SDA) capability. This initiative represented a remarkable development in location intelligence in the space industry, empowering advanced monitoring and characterization of space objects in geosynchronous orbit, and improving space traffic awareness and safety.

• In March 2023, HERE Technologies announced a multi-year strategic collaboration with Iteris. This strategy was aimed at combining a broader suite of HERE’s location-based services with ClearMobility Platform of Iteris, comprising HERE Maps, HERE Traffic Products, and HERE platform services.

• In March 2023, Autodesk announced its plans to acquire The Wild with the intent to leverage Extended Reality (XR) technology in the architecture, engineering, and construction (AEC) industry. The XR technology in the AEC arena represents a proliferating trend in the location intelligence market, presenting innovative ways for professionals to interact with project models, enhance efficiency, and attain better outcomes in projects.

• In February 2022, MDA Ltd. announced plans to partner with Rocket Lab USA, Inc. for the designing, manufacturing, assembling, and testing of 17 low Earth orbit (LEO) satellites. This was aimed at enhancing Mobile Satellite Services and satellite IoT solutions, thereby delivering noteworthy location-based data and connectivity services worldwide.

Location Intelligence Market Report Scope

Global Location Intelligence Market Segmentation

The report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends 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 and Consumer Goods

  • Government & Defense

  • Manufacturing & Industrial

  • Transportation & Logistics

  • BFSI

  • IT & Telecom

  • Utilities & Energy

  • Media & Entertainment

• Region 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 Asia Pacific

  • Middle East & Africa (MEA)