Location Intelligence Market Size

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.