As per the report, the global location intelligence market is estimated at USD 32.8 billion by 2027. It is expected to witness 15.2% CAGR, during the period of the forecast.
Increasing infiltration of smart apparatuses, plus the increasing demand for the data rich location which result in augmented customer commitment, in addition to impel operational effectiveness, these factors are estimated to boost the development of the market.
Growing access of network infrastructure along with the smart apparatuses matching with increasing digitalization has facilitated the businesses to gather the consumer information. Sequentially, this is expected to impel the expansion of the location intelligence market.
Location intelligence is an associate class of the IoT theory, which facilitates the businesses to spot customer activities, buyer inclination along with a range of information about the market functions for the businesses, to form superior judgment, supply enhanced services & products and reduce suspicions within the market.
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Further key findings from the report suggest:
• The Customer Management and Sales & Marketing Optimization applications correspondingly credited for more than 17% and 20% shares of the market. These applications facilitated the businesses to evaluate the patterns of expenditure, sales estimation as well as purchaser performance, which facilitated them to optimize the productivity.
• As a result of development of networking technology, growing number of smart phone users, increasing figure of service providers along with increase of social media, the Asia Pacific is estimated to undergo the highest development during the period of the forecast.
• Due to the maximum acceptance of IoT along with the existence of crucial companies like GE, HERE, Apple, Bosch, as well as Qualcomm, North America held the leading share of the market in 2019.
• In 2019, the transportation & logistics vertical sector retained more than 19% share of the market. The increasing acceptance of inventive location intelligence apparatuses, due to the speedy technical progression in network communication, techniques of location determination along with sensor equipment is estimated to power the expansion of the market.
• The European Commission is deeply spending on location intelligence tools plus IoT infrastructure, in this manner trying to speed up the local development.
Million Insights segmented the global location intelligence market based on Vertical, Application, Service, and Region:
Location Intelligence Application Outlook (Revenue, USD Million, 2016 - 2027)
• Workforce Management
• Asset Management
• Facility Management
• Risk Management
• Remote Monitoring
• Sales & Marketing Optimization
• Customer management
Location Intelligence Service Outlook (Revenue, USD Million, 2016 - 2027)
• System Integration
Location Intelligence Vertical Outlook (Revenue, USD Million, 2016 - 2027)
• Retail and Consumer Goods
• Government & Defense
• Manufacturing & Industrial
• Transportation & Logistics
• IT & Telecom
• Utilities & Energy
• Media & Entertainment
Location Intelligence Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• South Korea
• South America
• Middle East & Africa (MEA)
Some of the companies for Location Intelligence Market are: Trimble Inc., HERE Technologies, Qualcomm Technologies, Pitney Bowes Inc., and Bosch Software Innovations GmbH, Wireless Logic, Apple Inc.