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.’
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Meticulous Research®, a renowned provider of comprehensive market intelligence, unveils projections indicating that the Asia-Pacific location intelligence market is poised to soar to a valuation of $24.6 billion by 2030, boasting an impressive compound annual growth rate (CAGR) of 15.4% from 2023 to 2030. This anticipated growth is attributed to several factors, including the widespread adoption of location-based solutions across industries, the escalating use of spatial data and analytics, and the growing imperative for asset management in industrial sectors.
Despite the promising trajectory, the Asia-Pacific location intelligence market faces challenges stemming from evolving government regulations and a notable lack of awareness and expertise in spatial intelligence within the region. However, opportunities abound with the increasing adoption of drones across various applications and continuous advancements in mapping and navigation solutions. Nevertheless, challenges such as high procurement and implementation costs, as well as concerns regarding security, privacy, and accuracy, remain significant hurdles to market growth.
Driving Forces in the Asia-Pacific Region
• Retail Sector Revolution: The proliferation of location-based solutions in the retail sector is driving market growth, fueled by the need for improved decision-making, customer insights, and map-based visualizations.
• Cloud-based Deployment Momentum: Cloud-based deployment is projected to witness the highest CAGR during the forecast period, driven by benefits such as cost-effectiveness, scalability, and enhanced data management capabilities.
• Small & Medium-sized Enterprises (SMEs) on the Rise: SMEs are expected to register a higher CAGR due to the transition to cloud infrastructure and the increasing adoption of location intelligence solutions to gain insights into market trends and consumer behaviors.
Key Players and Segmentation
The Asia-Pacific location intelligence market is segmented by offering, deployment mode, organization size, sector, and country/region. Key players in the market include HERE International, Google LLC, TomTom N.V., Esri, and Microsoft Corporation, among others.
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