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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.
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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.
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