Location Intelligence market is anticipated to grow at 15.8% CAGR between 2023 and 2033.
The global location analytics market will grow from $13.8 billion in 2020 to $26.7 billion by 2025.
Many industries, including retail and e-commerce, logistics and transportation, real estate, government sectors, healthcare, marketing, and advertising, are prone to using location intelligence services for strategic decision-making. In addition to these industries, banking, Financial Services, and insurance (BFSI) industries prefer these services because they efficiently manage fraud, identify valid charges, and advertise exclusive offers.
Location Intelligence can help retailers manage supply networks and it facilitates asset tracking personnel identity verification in retail stores. Owners of businesses can compute an exact ETA and follow a delivery executive's exact location in real-time.
The use of location information into the insurance sector is revolutionizing the ways in which businesses evaluate risk, handle claims, and communicate with clients. Location Intelligence services provide all-inclusive solutions that improve productivity, accuracy, and client happiness. Helping to gain a competitive edge and keep ahead of market trends.
Location intelligence has become an effective tool for financial organizations to obtain a competitive edge with the introduction of cutting-edge technologies. Banks, insurance providers, and other financial institutions can improve client happiness, tailor their offerings, and make better decisions by utilizing geographic data.
By using Geospatial data healthcare businesses can improve service delivery, streamline operations, and decrease waste. Strategic planning, resource allocation, and patient routing are all made easier with the help of location intelligence, which boosts output and efficiency.
Marketing teams can target customers based on factors like proximity to a business, activities taking place in their area, and more by using location data. Throughout the entire customer lifecycle, from discovery and purchase to engagement and retention, location-based marketing has shown to be successful.
Location Intelligence has a direct impact on the value and profitability of your property, it is an important consideration when investing in real estate. How much your property will increase in value over time is also greatly influenced by its location. Areas with robust employment markets, solid infrastructure, and anticipated future developments tend to see property growth.
The generated Location Intelligence is essential for communications services, whether mobile or fixed, home or business. As businesses attempt to digitally alter their operations, GIS offers a scientific basis for mapping and analysis that is utilized in practically every industry.
Leaders and employees in the public sector find it easier to comprehend why things might be happening when they are aware of where they are occurring. For instance, using location-based data, governments can more quickly decide which neighbourhoods are neglected.