Meticulous Research®—leading global market research company, published a research report titled, ‘Asia-Pacific Location Intelligence Market by Offering, Deployment Mode, Organization Size, Sector (Transportation & Logistics, Retail & E-commerce, Government & Defense, BFSI, Travel & Tourism), and Country - Forecast to 2030.’
According to this latest publication from Meticulous Research®, the Asia-Pacific location intelligence market is projected to reach $24.6 billion by 2030, at a CAGR of 15.4% from 2023–2030. The growth of the Asia-Pacific location intelligence market is mainly driven by the proliferation of location-based solutions in the retail sector, the growing use of spatial data and analytics across industries, and the increasing need for asset management in the industrial sector. However, dynamic government rules and regulations for location-based services and the lack of awareness and spatial intelligence expertise in the region are factors restraining the growth of this market.
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Furthermore, the growing adoption of drones for various applications and the constant upgrades in mapping and navigation solutions are expected to generate growth opportunities for market stakeholders. However, high procurement and implementation costs and security, privacy, and accuracy issues pose major challenges to market growth. Additionally, the use of 5G technology for improved real-time analysis and the development of GIS software using AR/VR technologies are prominent trends in the Asia-Pacific location intelligence market.
The Asia-Pacific location intelligence market is segmented by offering (solutions and services), deployment mode (on-premise deployment and cloud-based deployment), organization size (large enterprises and small & medium-sized enterprises), sector (transportation & logistics, retail & e-commerce, government & defense, BFSI, travel & tourism, IT & telecom, media & entertainment, construction, marketing & advertising, utility, energy, and other sectors). The study also evaluates industry competitors and analyzes the market at the country and regional levels.
Based on offering, the Asia-Pacific location intelligence market is segmented into solutions & services. In 2023, the solutions segment is expected to account for the larger share of the Asia-Pacific location intelligence market. The large market share of this segment is attributed to the increasing need for location intelligence solutions for improved decision-making and customer insights and the rising popularity of map-based visualizations.
However, the services segment is projected to register the higher CAGR during the forecast period due to the increasing demand for geospatial data collection services, the growing need for the collection, analysis, visualization, and interpretation of location-based data, and the market players’ emphasis on offering data hosting and infrastructure services.
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Based on deployment mode, the Asia-Pacific location intelligence market is segmented into on-premise deployment and cloud-based deployment. In 2023, the on-premise deployment segment is expected to account for the larger share of the Asia-Pacific location intelligence market. The large market share of this segment is attributed to the increasing need for on-premise location intelligence solutions among BFSI organizations to ensure data security and regulatory compliance, the rising need to ensure the security and privacy of stored data, and the high acceptance of on-premise deployments among large enterprises.
However, the cloud-based deployment segment is projected to register the higher CAGR during the forecast period due to the benefits of cloud-based deployments, such as easy maintenance of the generated data, cost-effectiveness, scalability, and effective management of location intelligence solutions, and the rising need for mapping and visualization capabilities and cloud-based location intelligence to enhance public services, facilitate economic development, and improve overall governance.
Based on organization size, the Asia-Pacific location intelligence market is segmented into large enterprises and small & medium-sized enterprises. In 2023, the large enterprises segment is expected to account for the larger share of the Asia-Pacific location intelligence market. The large market share of this segment is attributed to large enterprises’ strong IT infrastructure, growing adoption of advanced technologies to support location intelligence solutions, and development of strategic IT initiatives.
However, the small & medium-sized enterprises segment is projected to register the higher CAGR during the forecast period due to the transition to cloud infrastructure due to the benefits offered, such as ease of adoption, minimal requirement for in-house infrastructure, high scalability, easy installation of location intelligence solutions, and reduced cost and the increasing adoption of location intelligence solutions to gain insights into market trends, consumer behaviors, foot traffic patterns, and logistics operations.
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Based on sector, the Asia-Pacific location intelligence market is segmented into transportation & logistics, retail & e-commerce, media & entertainment, BFSI, government & defense, IT & telecommunications, energy, utility, marketing & advertising, travel & tourism, construction, and other sectors. In 2023, the transportation & logistics segment is expected to account for the largest share of the Asia-Pacific location intelligence market. The large market share of this segment is attributed to the increasing need for real-time tracking of vehicles using GPS, the growing use of location intelligence tools to analyze traffic patterns and congestion in real time, and the increasing use of location intelligence tools for route optimization.
However, the retail & e-commerce segment is projected to register the highest CAGR during the forecast period due to the rising need for location data for targeted marketing campaigns, the increasing popularity of location-based survey & feedback collection tools, the growing use of retail asset management tools, and the increasing need for supply chain management in the retail sector.
Based on country/region, the Asia-Pacific location intelligence market is segmented into China, Japan, India, Singapore, South Korea, Australia & New Zealand, Taiwan, Indonesia, Thailand, the Philippines, Malaysia, Vietnam, and the Rest of Asia-Pacific. In 2023, China is expected to account for the largest share of the Asia-Pacific location intelligence market. China’s large market share is attributed to the country’s high penetration of mobile devices, large customer base for consumer solutions, and rising deployments of map-based platforms across Chinese organizations.
Also, China is projected to register the highest CAGR during the forecast period.
Key Players
The key players operating in the Asia-Pacific location intelligence market are HERE International B.V. (Netherlands), Google LLC (U.S.), TomTom N.V. (Netherlands), Esri (U.S.), Mapbox, Inc. (U.S.), Autodesk, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Trimble Inc. (U.S.), Qualcomm Technologies, Inc. (U.S.), Pitney Bowes Inc. (U.S.), Hexagon AB (Sweden), Microsoft Corporation (U.S.), CartoDB Inc. (U.S.), TIBCO Software Inc. (U.S.), and Precisely (U.S.).
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Key Questions Answered in the Report:
• Which are the high-growth market segments in terms of offering, deployment mode, organization size, and sector?
• What is the historical market size for the Asia-Pacific location intelligence market?
• What are the market forecasts and estimates for 2023–2030?
• What are the major drivers, restraints, opportunities, challenges, and trends in the Asia-Pacific location intelligence market?
• Who are the major players in the Asia-Pacific location intelligence market, and what are their market shares?
• What is the competitive landscape of the Asia-Pacific location intelligence market?
• What are the recent developments in the Asia-Pacific location intelligence market?
• What are the strategies adopted by major market players?
• What are the trends, and which are the high-growth countries in this market?
• Who are the local emerging players in the Asia-Pacific location intelligence market, and how do they compete with other players?
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