Location Intelligence Market size was valued at USD 18.65 billion in 2023 and is set to cross USD 120.05 billion by 2036, expanding at more than 15.4% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of location intelligence is evaluated at USD 20.95 billion. The growth of the market can be attributed to the growing usage of spatial data and analytical tools, and mounting need for predictive analysis among businesses across the globe. Along with these, rising use of location-based applications and web mapping services is also a crucial factor expected to bolster market growth in the forthcoming years. Furthermore, the world is observing an upsurge in the adoption of social media for customer engagement and getting direct feedback. As of July 2018, there are almost 4.5 billion social media users around the world, i.e., about 57 percent of the earth’s population. 9 out of 10 internet users also use social media every month. This, coupled with increasing penetration of smartphones globally is projected to offer ample growth opportunities to the market in the near future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
15.4% |
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Base Year Market Size (2023) |
USD 18.65 billion |
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Forecast Year Market Size (2036) |
USD 120.05 billion |
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Regional Scope |
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The market is segmented by vertical into retail, government, and defense, out of which, the retail segment is anticipated to hold the largest share in the global location intelligence market. This can be accounted to the high utilization of location analytics in managing retail apps to offer improved user experience. Apart from these, location intelligence offers a digital platform to sellers for interacting and building trustworthy relationships, which is also predicted to boost the growth of the market segment in the imminent time. Additionally, on the basis of application, the sales & marketing optimization segment is assessed to acquire the largest share during the forecast period, which can be credited to the fact that use of these services enables assessment of consumer behavior, forecast sales and optimize profitability of businesses.
Our in-depth analysis of the global market includes the following segments
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By Service |
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By Location Type |
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By Application
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By Vertical
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APAC Market Statistics
On the basis of geographical analysis, the global location intelligence market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is anticipated to dominate majority revenue share by 2036, attributed to growing number of smartphone users, and rapid advancements in networking technologies in the region. As of May 2021, China accounted for the largest number of smartphone users in the world, valued at 912 million users, followed by India with a smartphone userbase of approximately 439 million.
In addition, several companies in the region are focusing on the introduction of new products and services, which is also predicted to impel APAC’s market growth in the future. Moreover, the location intelligence market in North America is assessed to acquire the largest share during the forecast period ascribing to the rapid adoption of new technologies, high usage of social media, and presence of robust IT infrastructure in the region.
April 2020- ESRI launched an online cloud-based analytics platform for the Caribbean community, providing access to the company’s ArcGIS Online software, along with geographic data and imagery.
October 2019- IBM Corporation launched IBM Cloud Pak, aimed at extracting the value of location and time for business use.
Author Credits: Abhishek Verma
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