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Written by Mark Smith » Updated on: October 23rd, 2024
The latest report by IMARC Group, titled “Location Intelligence Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2032,” offers a comprehensive analysis of the location intelligence market size. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global location intelligence market size reached US$ 18.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 62.5 Billion by 2032, exhibiting a growth rate (CAGR) of 13.8% during 2024-2032.
Location intelligence (LI) refers to the process of deriving meaningful insight from geospatial data relationships to solve a variety of problems. This branch of analytics combines geographic data with business data to provide a deeper understanding of location-specific trends, patterns, and conditions. LI is used extensively across various industries for tasks such as optimizing retail network locations, improving supply chain efficiency, urban planning, and targeted marketing campaigns. The advantages of using location intelligence include enhanced decision-making capabilities, improved efficiency, and the ability to identify new market opportunities by analyzing geographical information in conjunction with demographic data. Additionally, it supports risk management by providing geographical insights into areas susceptible to natural disasters or other risks.
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Market Trends:
The increasing use of smartphones and mobile devices, which has led to a rise in location-based services is driving the global market. Additionally, the proliferation of Internet of Things (IoT) devices has significantly contributed to the availability of real-time location data. Another major driver is the growing demand for spatial analytics in various sectors such as retail, transportation, logistics, and healthcare. In retail, businesses utilize location intelligence to optimize store layouts, manage inventory, and implement effective geo-targeted marketing campaigns. In transportation and logistics, it helps in route optimization, fleet management, and improving delivery times, leading to cost savings and enhanced customer satisfaction. In healthcare, location intelligence assists in tracking disease outbreaks, managing healthcare facilities, and planning emergency response strategies.
Furthermore, the advancement in geographic information system (GIS) technology is also a crucial driver. Modern GIS platforms offer sophisticated tools for mapping, visualizing, and analyzing spatial data, making it easier for organizations to integrate location intelligence into their workflows. Furthermore, the availability of high-resolution satellite imagery and aerial photography has enhanced the accuracy and granularity of location data, providing more detailed and reliable insights.
View Full Report with TOC & List of Figure: https://www.imarcgroup.com/location-intelligence-market
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Location Intelligence Market Segmentation:
Our report has categorized the market based on region, service, application and end use industry.
Breakup by Service:
Breakup by Application:
Breakup by End Use Industry:
Breakup by Region:
Key highlights of the report:
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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