According to the report titled ‘Global Location Intelligence Market Size study, by Application (Workforce Management, Asset Management, Facility Management, Risk Management, Remote Monitoring, Sales & Marketing Optimization, Customer management and Others), by Service (Consulting, System Integration and Others), by Vertical (Retail and Consumer Goods, Government & Defense, Manufacturing & Industrial, Transportation & Logistics, BFSI, IT & Telecom, Utilities & Energy and Media & Entertainment), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global location intelligence market was valued at USD 12.1 billion in 2020 and is expected to grow at 15.2% CAGR during 2021-2027, thereby reaching a valuation of USD 32.558 billion by the end of forecast period.
 

Rising penetration of smart devices, focus on understanding customer purchasing patterns, and growing investment in the Internet of Things (IoT) technology are propelling the growth of global location intelligence market. To this effect, Statista cited that the worldwide spending on IoT is projected to reach USD 1100 billion by 2023, up from USD 749 billion in 2020.
 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/4285244/
 

For the uninitiated, location intelligence enables businesses to identify purchasing trends, customer behavior, and a variety of information about niche markets, assisting organizations in making better decisions, delivering quality products & services, and identifying possible uncertainties.
 

On the downside, concerns pertaining to data security and infantile network infrastructure are acting as challenges in the business sphere.
 

Based on application, global location intelligence market is divided into sales & marketing optimization, remote monitoring, asset management, customer management, workforce management, risk management, facility management, and others. In terms of service, the market is categorized into system integration, consulting, and others. Concerning verticals, the industry is bifurcated into BFSI, retail & consumer goods, transportation & logistics, government & defense, utilities & energy, IT & telecom, and media & entertainment.
 

From the regional standpoint, the market spans across Asia Pacific, North America, Europe, and Latin America. Among these, Asia Pacific market is poised to amass massive returns during the projected timeline, owing to growing number of service providers in the region, and rising smartphone penetration.
 

The competitive landscape of worldwide location intelligence industry is defined by companies like TruePosition, Inc., Autodesk, Inc., Pitney Bowes, Inc., Tibco Software, Inc., Navizon, Inc., Qualcomm Technologies, Inc., Trimble, Inc., HERE Technologies, MDA Ltd., and Supermap Software Co., Ltd., among others.