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Global Location Intelligence Market to Grow at a CAGR of 16.1% During 2021-2026, Driven by the Rising Applications in the Oil and Gas Industry

According to a new report by EMR titled, ‘Global Location Intelligence Market Report and Forecast 2021-2026’, the market attained a value of about USD 12.21 billion in 2020. The industry is further expected to grow at a CAGR of 16.1% in the forecast period of 2021-2026 to reach a value of nearly USD 29.9 billion by 2026.

The market for location intelligence is being driven by the rising adoption of advanced technology like the Internet of Things (IoT) and artificial intelligence (AI) to streamline business operations and receive real-time updates on workforce and asset management and provide a platform for remote operation. Location intelligence as a subset of the Industrial Internet of Things (IIoT) is extensively explored in the oil and gas industry. Industrial Internet of Things (IIoT) integrated with location intelligence can help midstream oil and gas operations to manage pipeline assets, mitigate potential risks, and optimise new pipeline routes. Furthermore, IIoT coupled with location intelligence can further aid in the simplification of data processing and analysis by providing location-based context and spatial awareness, thus making it favourable in the oil and gas industry. Thus, IIoT paired with location intelligence is anticipated to be driven by its application in the oil and gas industry.

ESRI, a global leader in the location intelligence industry, recently announced the launch of the ArcGIS Platform in January 2021. The ArcGIS is a geospatial platform as a service (PAAS) for developers that need to build their own products or ESRI’s integrate location services into their apps, websites, business systems, and products. With the launch of the ArcGIS platform, users can access professional-grade content and capabilities that they can readily integrate into their existing apps, leveraging a framework for supporting millions of consumers. The collection of ready-to-use base maps provided by ESRI gives users a better understanding of their data by viewing it on virtual maps. Major companies, including Salesforce.com (NYSE: CRM) are expected to utilise ESRI’s ArcGIS for various business operations, thus augmenting its market demand and adding to industry growth.

Market Analysis by Application, End Use, and Region:

  • The market, based on application, can be divided into workforce management, asset management, facility management, risk management, remote monitoring, sales and marketing optimisation, and customer management, among others.
  • On the basis of end use, the market can be segmented into transportation and logistics, retail and consumer goods, government and defence, manufacturing and industrial, and IT and telecommunication, among others.
  • The major regional markets for location intelligence are North America, Latin America, Europe, the Asia Pacific, and the Middle East and Africa.

Key Findings of the Report:

  • The market growth for location intelligence can be attributed to the rising prevalence of the Internet of Things (IoT) technology in major end use sectors.
  • The rising demand for location intelligence in the retail sector for store management, enhanced customer relations, and to boost sales, is augmenting the market growth.
  • The deployment of location intelligence in logistics automation to streamline warehouse management by providing remote access and highly accurate services is bolstering the growth of the market.
  • The demand for location intelligence in the transportation industry to detect traffic, predict waiting time and calculate estimated fare in cab services is robustly contributing to the industry growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global location intelligence industry for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) markets for applications, end uses, and major regions of location intelligence.
  • The report analyses market dynamics, covering the key demand and price indicators in the market along with an assessment of the SWOT and Porter’s Five Forces Model.

The major players in the global location intelligence market are Esri, Navizon, Inc., Tibco Software, Inc., and CartoDB Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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