Dublin, Feb. 06, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Location Intelligence Market by Offering, Deployment Mode, Organization Size, Sector, and Country - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific location intelligence market is projected to reach $24.6 billion by 2030, at a CAGR of 15.4% during the forecast period of 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 are factors restraining the growth of this market.
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 are major challenges to market growth.
Based on offering, the Asia-Pacific location intelligence market is segmented into solutions and 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 popularity of map-based visualizations and the increasing need for location intelligence solutions for improved decision-making and enhanced customer insights.
However, the services segment is projected to register a higher CAGR during the forecast period due to the growing emphasis by market players on offering data hosting and infrastructure services and the growing need for collection, analysis, visualization, and interpretation of location-based data.
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 by the BFSI sector to ensure data security, regulatory compliance, and the rising need to ensure the security and privacy of stored data.
However, the cloud-based deployment segment is projected to register a higher CAGR during the forecast period due to the growing cloud-based location intelligence to enhance public services, facilitate economic development, and improve overall governance, the increasing need for mapping and visualization capabilities, and the increasing benefits offered by cloud-based deployments, such as easy maintenance of the and effective management of location intelligence solutions.
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 the growing adoption of advanced technologies to support location intelligence solutions and the development of strategic IT initiatives.
However, the small & medium-sized enterprises segment is projected to register the highest CAGR during the forecast period due to the increasing adoption of location intelligence solutions to get insights regarding market trends, consumer behaviors, foot traffic patterns, and logistics operations.
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 growing use of location intelligence tools to analyze traffic patterns and congestion in real time and the increasing usage 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 increasing popularity of location-based surveys and feedback collection tools, the growing usage 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, Philippines, Malaysia, Vietnam, and the rest of Asia-Pacific.
In 2023, China is expected to account for the largest share of the market in Asia-Pacific location intelligence market. The large market share of this market is attributed to the high penetration of mobile devices, a strong customer base for consumer solutions, and the rising deployments of map-based platforms across Chinese organizations. Also, this market is projected to register the highest CAGR during the forecast period.
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 geographic trends and high-growth countries?
- Who are the local emerging players in the Asia-Pacific location intelligence market, and how do they compete with other players?
Market Insights
Factors Affecting Market Growth
- Proliferation of Location-based Solutions in the Retail Sector Driving the Need for Location Intelligence
- Growing Use of Spatial Data and Analytics Across Industries Supporting Market Growth
- Increasing Need for Asset Management in the Industrial Sector Boosting the Demand for Location Intelligence
- Dynamic Government Rules and Regulations Impacting Location Intelligence Operations
- Lack of Awareness and Spatial Intelligence Expertise Limiting the Potential of Location Intelligence Services
- Growing Adoption of Drones Increasing the Need for Location Intelligence Services
- Constant Upgrades in Mapping and Navigation Solutions Generating Growth Opportunities for Market Stakeholders
- High Costs of Procurement and Implementation Limiting the Adoption of Location Intelligence Solutions
- Security, Privacy, and Accuracy Issues to Remain a Major Challenge for Market Players
Trends
- Use of 5G Technology for Improved Real-time Analysis
- Development of GIS Software Using AR/VR Technologies
Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- 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.)
- Precisely (U.S.).
Scope of the Report:
Asia-Pacific Location Intelligence Market Assessment - By Offering
- Solutions
- Services
Asia-Pacific Location Intelligence Market Assessment - By Deployment Mode
- On-premise Deployment
- Cloud-based Deployment
Asia-Pacific Location Intelligence Market Assessment - By Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises
Asia-Pacific Location Intelligence Market Assessment - By Sector
- Transportation & Logistics
- Tracking & planning
- Supply chain management
- Other transportation & logistics applications
- Retail & E-commerce
- Asset management
- Supply chain management
- Sales & marketing optimization
- Customer experience management
- Other retail & E-commerce applications
- Government & Defense
- Tracking & Planning
- Safety & Security
- Risk Management
- Other Government & Defense Applications
- Travel & Tourism
- Sales & Marketing Optimization
- Tracking & Planning
- Customer Experience Management
- Other Travel & Tourism Applications
- IT & Telecommunications
- Customer Experience Management
- Risk Management
- Other IT & Telecommunication Applications
- BFSI
- Risk Management
- Customer Experience Management
- Other BSFI Applications
- Media & Entertainment
- Customer Experience Management
- Location Analysis
- Other Media & Entertainment Applications
- Construction
- Project Planning and Management
- Supply Chain Optimization
- Other Construction Applications
- Marketing & Advertising
- Sales & Marketing Optimization
- Customer Experience Management
- Other Marketing & Advertising Applications
- Utility
- Plant Engineering/Plant Maintenance
- Asset Management
- Emergency Response
- Other Utility Applications
- Energy
- Operations Performance
- Asset Management
- Other Energy Applications
- Other Sectors
Asia-Pacific Location Intelligence Market Assessment - By Country/Region
- China
- Japan
- India
- Singapore
- South Korea
- Australia & New Zealand
- Thailand
- Taiwan
- Indonesia
- Philippines
- Malaysia
- Vietnam
- Rest of Asia-Pacific
For more information about this report visit https://www.researchandmarkets.com/r/lyjhnt
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