Location intelligence can be described as the process of utilization of business and spatial analytical tools to collect, store, analyze and visualize geographical data. Location Intelligence & Location Analytics (LI & LA) has gained popularity from the past decade and is expected to emerge as one of the key technologies in the near future aiding in business of diverse enterprises have been promoting the market growth. Small and medium businesses have been increasing at the growth rate at the global level and location intelligence and analytics have been increasingly penetrating for the applications including market analysis, risk assessment, effective targeting of consumers, network investments and various others.
Increasing usage of portable navigation systems and web mapping services has been impacting positively on the market growth and awareness on location based services & technologies. Large enterprises are estimated to dominate the overall market value owing to the increasing need of location based tracking and asset management applications. However, small and medium enterprises have been witnessing high growth rates from the past decade owing to the increasing adoption of location intelligence technology especially from the retail enterprises for asset tracking purposes.
Medium sized enterprises are the significant adopters of the LI & LA services owing to the increasing emphasis on optimized scheduling and asset tracking along with various performance benefits attributable for the location intelligence. SMEs are increasingly focusing on cloud, open source, social media analysis and so on in data warehousing. As per the IndustryARC, a market research company estimates, the small and medium enterprises are projected to account for close to 30% of the total market value by the end of 2021 and is projected to witness high growth rate compared to the large enterprises in terms of adoption and market value.
IndustryARC is a global market research and business consulting firm based out of India. We have research centers across Asia and Europe with consultants experienced in the following verticals – Agriculture, Automotive, Chemicals and Materials, Energy and Power, Food and Beverages, ICT, Electronics, Life sciences and Healthcare, Automation and Instrumentation.
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