Location Intelligence Market Trend: GPS Assisted Tracking System To Be Pivotal For Growth In APAC Region

Industry : Technology    

Location intelligence is achieved through visualization and analysis of geospatial data. In recent years, geospatial services have gained extensive demand across several industry verticals, such as government and retail which is supplementing the growth of the regional market. In 2022, the adoption rate of smartphones reached 75% and is expected to rise up to 85% by 2025 in the Asia Pacific region. The boom of smartphones in the Asia Pacific (APAC) region has been impressive and is a huge market for every smartphone company. The extensive use of mobile applications and location-sharing capabilities of smartphones have revolutionized the way services are being delivered to end users. Further, location-based analytics assists in contextualizing location-centric data to gain actionable insights and inform strategic business decisions. These data could boost the customer experience and provide a competitive advantage over the market players. Further, by leveraging with wifi-networks, vendors have enabled location analytics solutions to run at a minimal cost.

The emergence of Artificial Intelligence (AI), Machine Learning (ML), cloud computing have created a shift towards a machine-centric world. Further, new developments in Intelligent Transport System (ITS) and growth of big data and data mining have increased the demand for geospatial information, particularly in real-time data. Moreover, automotive and telecommunication industries in the APAC region have lucrative demand for high-definition maps. Developments in Global Positioning System (GPS)-assisted tracking systems for traffic control and monitoring have supplemented the growth of the Asia Pacific market during the projection period. For instance, in October 2022, Singapore Land Authority (SLA) strengthened its geospatial services by investing in Singapore Satellite Positioning Network (SiReNT), to provide reference for all geospatial data in Singapore. The SiReNT supports several applications, such as 3D geoinformation. With geospatial technology, organizations in Singapore have gained expertise in the areas of 3D data acquisition, environmental monitoring, and use of space-based earth observation data. In addition to this, technology helps them to resolve critical issues caused by climate change, such as damage to coastlines and intensifying sea levels.

The changing scenario of how businesses across the region has urged organizations across several industry verticals to adopt the technology. As a result, data providers need to reassess their business practices to accommodate the newfound needs. For instance, on April 18, 2023, the conference will be held in Singapore to bring together industry participants, innovative agencies, and technology disruptors to discuss the latest trends and provide the actionable insights on factors driving the Asia Pacific location intelligence market forward. The summit includes presentations from fortune speakers from the world’s largest brands, including Lara Truelove (SAP), Rahma Assante (Bytedance), and Sandeep Das (Mars Wrigley), among others. Moreover, the conference will highlight how technology is disrupting the location intelligence and driving the APAC market growth.

Authored By

Pawan Srivastava, Manager & Cluster Lead, Technology Research, Grand View Research

Pawan heads one of the major Clusters of GVR - ICT & TMT domain. Competent with a rich combined experience of 9 years in IT & Strategy Consulting, Market Research, and Analytics. Leveraged aptitude in translating corporate vision to overcome complex business challenges through Competitive Analysis, Qualitative & Quantitative Research. He works with a solution-oriented approach to convert business challenges into actionable solutions. He tracks market intelligence around emerging technology spaces such as Artificial Intelligence, Machine Learning, Robotic Process Automation, Datacenter, Cloud Computing, Cyber Securities, Autonomous Vehicles, Mobility Devices and, to name a few

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