Imagine knowing your client’s locations and behaviors, recognizing new market prospects, and optimizing your supply chain processes. Right from dealers to insurance firms, finance enterprises to real estate businesses, location intelligence is used by multiple industries. Why? Because it helps increase sales, enhance efficiency, and improve customer experience.
Information has become increasingly vital during the past ten or so years. Every day, more and more data become accessible, making it clear that data owners are in complete control. Over the past ten years, geospatial data has also made significant advancements. It has evolved from being a ‘good-to-have’ feature to a ‘must-have’ element of enterprises of all shapes and sizes, expanding the location intelligence market growth.
Now, let’s dive into the idea of location intelligence and market insights and explore the top market players operating in the industry.
What is Location Intelligence?
Location Intelligence (LI) is the development, presentation, and use of smart maps, which are maps with geospatial information overlaid with important demographic information. Organizations’ attention has recently switched away from merely gathering geographic data and toward intensively analyzing and optimizing it using a variety of GIS tools to generate insights and projections. Location intelligence involves just that.
The Market Demographics
According to the Polaris Market Research study, the global location intelligence market was valued at USD 16.14 billion in 2022 and is expected to grow to USD 66.94 billion at a CAGR of 15.3% during the forecast period of 2032. Click here to download the detailed report.
Top 5 Market Key Players
We will explore the different industry players and its role in the market. Here are some of the top location intelligence market key players dealing in the industry:
#1 Autodesk
John Walker, who was a collaborator of the initial versions of AutoCAD, started Autodesk, Inc. in 1982. It is an American global software company that creates software for the manufacturing, media, education, entertainment, engineering, and construction sectors. The headquarters of Autodesk is in San Francisco, California, and it maintains offices all around the world.
#2 HERE Technologies
HERE Technologies is a location data and technology firm that developed the first digital map almost 35 years ago. They have a presence in 52 nations and are currently the top location platform firm in the globe. In addition to working with top firms in a variety of industries, including manufacturing, retail, transportation and logistics, and the public sector, they have a significant presence in the automobile sector.
#3 Navizon
An Internet Protocol geolocation team founded Navizon, which was formerly known as Mexens Technology. Cyril Houri, the company’s founder and CEO, also served in the same roles for Infosplit, a supplier of IP address geolocation services founded in 1999 and acquired in 2004. It is one of the best location intelligence market players and is a supplier of goods and services with a geographic focus.
#4 Supermap Software
Innovative GIS platform software and service provider SuperMap Software Co., Ltd. Beijing, the headquarters was created in 1997. For a variety of industries, including smart cities, land management, real estate, urban planning, pipeline management, public service, etc., SuperMap concentrates on offering cutting-edge GIS platform software and solutions.
#5 Tibco Software
In 1997, TIBCO Software Inc. was established. Real-time, automated communication between financial markets was made possible by ground-breaking software from TIBCO. 2014 visited Vista Equity Partners to purchase TIBCO and help business enterprises. Since the purchase, TIBCO has grown significantly, developing and absorbing various technology platforms and businesses in addition to intensifying its charitable endeavors.
Take Home Message
Business analytics’ newest frontier is location intelligence. It can assist in better decision-making, timely customer communication, and quick response to new chances for your company. As a result, the location intelligence market demand is increasing.