In the historic year 2017, Global Location Intelligence Market Size was valued at $x.xx Billion. It is expected to augment the market up to $x.xx Billion with a CAGR of xx.x% over the forecast period. Growth in the usage of the smart devices and network infrastructure related to the digitization of the organizations to access the information about performance of system, assets and consumers are the factors that are bolstering the growth of global location intelligence market. Moreover, increase in the demand for the data of location to improve the business operations and the services is anticipated to increase the growth of location intelligence market.
Increase in the digitization is fueling the location intelligence market growth. In addition, growing investments in the usage of smart devices and Internet of Things (IoT) and the services of network are anticipated to boost the expansion of location intelligence market. Smartphones are enabling the businesses to use the dynamic data site like location preferences, whereabouts, frequency of visits of customers and time of stay. This dynamic data allows the organization to calculate the patterns of buying and behavior of customer and can help in making the proper decision.
Various tools allow businesses to predict the behavior, collect the database and identify the consumer trends of the location intelligence market. This are supporting the businesses to offer the better services, products and several uncertainties in the global location intelligence market. Therefore, requirement of optimizing the business operations and the cost effectiveness are increasing the demand for the tools of location intelligence amongst industries and is projected to supplement the growth of the global location intelligence market in the coming future.
Scarcity of the network infrastructure, awareness regarding predictive analytics and geospatial, data privacy and operational risks are the factors that are hampering the global location intelligence market. In addition, various connected devices are tracking the live position and the personal information of customers which can be illegally used by various hackers and agencies for criminal and fraudulent activities and is expected to hinder the location intelligence industry growth.
Factors that are participating in the growth of the location intelligence market are growth in the focus as per the customer’s needs, retail market and accepting the advanced technologies. Location intelligence is also used for increasing the medium and small enterprise, predictive analysis and market intelligence is anticipated to fuel the location intelligence market in the coming years.
Global location intelligence market is segmented into application, type and region. On the basis of application, market is divided into logistics and transportation, IT and telecommunications, consumer goods and retail, utilities and government, life sciences & healthcare, BFSI and more. Based on type, market is divided into service segment and software segment.
Geographically, regions involved in the development of global location intelligence market are Southeast Asia, India, China, Japan, Europe and United States. United States is dominating the global location intelligence market.
Key players involved in increasing the location intelligence market share are Oracle Corp, Cisco Systems, SAS Institute, Microstrategy and Google.
Key Segments in the “Global Location Intelligence Market” are-
By Application, market is segmented into:
- Logistics and Transportation
- IT and Telecommunications
- Consumer goods and retail
- Utilities and government
- Life sciences & healthcare
By Type, market is segmented into:
- Service Segment
- Software Segment
By Regions market is segmented into:
- Southeast Asia
- United States