Location Intelligence and Location Analytics Market Expected to Reach 16.43 Billion USD by 2021

Aug 22, 2017

According to a recent study from IndustryARC, the location intelligence (LI) Market & Location Analytics (LA) Market is forecast to reach $16.43 billion by 2021 and is estimated to grow at a CAGR of 23.4% during 2016-2021. The growth in the location intelligence & location analytics market can be attributed growth in transportation and logistics sector coupled with the increasing emphasis to track the goods.

The market is all set to exhibit robust development with a broad range of applications includes manufacturing and real estate along with the transportation and logistics. Large enterprises are projected to continue its dominance in the LI and LA market and medium businesses are estimated to witness significant growth rate of CAGR 29% during 2016-2021.

Americas will be the largest region for location intelligence and location analytics market globally with revenue of $6.90 Billion by 2021. In Americas, the demand for LI and LA has grown tremendously especially in retail and transportation sector. The American retail and transportation industries are focusing on asset tracking and monitoring, and among others. Location intelligence is being implemented in American economies to significantly study the geospatial information along with the business information for asset management. APAC is projected to witness high growth rates in this market owing to the increasing adoption of location intelligence in the banking and retail sectors to handle the fraud control activities along with the regional and multilateral trade agreements have boosted the trade growth which have been creating new opportunities for the LI market and is likely to continue over the next decades.