The location intelligence market is expected to reach 32.8 billion by 2027 with a CAGR of 15.2%, according to the new report by Grand View Research, Inc. Location intelligence falls under the category of business intelligence wherein location and geography is used for case analysis. The analytical study is based on the data points with reference to map interface.
Customer relationship management (CRM) have a consistent flow of resources for business and enables the mapping of customer queries with the help of customer data points. This happens within a structured array of resources wherein unified documentation exists for business operations. Parallel to this, the location intelligence vis-a-vis geo information systems (GIS) enables the geo mapping of customers to serve their queries with a detailed and analytic approach. Emergence of big data and social media analytics have opened new avenues for the market growth. Geo-marketing has become a new way of communication for product marketing For instance, a German telecommunications provider advertises new services that sends sale offers with discounts to the users available within the range of Point of Sale.
Growing adoption of IoT for business operations such as customer behaviour, consumer trends and analytics contributes to the market growth. Increase in digitalization helps E-commerce organizations to make informed decisions and offer quality services for online consumers. Location intelligence, thus, helps in gaining actual insights for customers and business process.
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Covid-19 is declared a geographic crisis and has become the worst pandemic ever. On this backdrop, government officials are deploying contact tracing using location intelligence and geospatial technology. Organizations at the regional and district level are highly adoptive of geospatial technology and encouraging situational awareness to help the frontline workers analyze and communicate in the real time. The data collected and shared using 2D and 3D visuals, apps and portals.
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Further Findings From the Report Suggest:
The transportation and logistics segment accounted for a high share in 2019 and expects to continue domination in the coming years. Adoption of innovative techniques, technological advancements, and significance of sensor technologies in the semiconductor industry
CRM applications are expected to rise at a high rate owing to adoption of customer analytics, increase in use of customer engagement tools, and robustness in network communication
North America maintains a high dominance throughout the forecast period and expects to remain dominant owing to the technological competency and increased organizational capacity
Major players are emphasizing on technological collaborations with start-ups having technical talent and state-of-the-art marketing techniques
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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