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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
Report ID: MRICT - 1041025 Pages: 243 Nov-2023 Formats*: PDF Category: Information and Communications Technology Delivery: 2 to 4 Hours Download Free Sample ReportThe Asia-Pacific Location Intelligence Market to reach $24.6 billion by 2030 at a CAGR of 15.4% during the forecast period 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 regulations for location-based services and the lack of awareness and spatial intelligence expertise in the region are factors restraining the growth of this market.
Furthermore, the growing adoption of drones for various applications and constant upgrades in mapping and navigation solutions are expected to generate growth opportunities for the players operating in this market. However, high procurement and implementation costs and security, privacy, and accuracy issues pose major challenges to market growth. Additionally, the use of 5G technology for improved real-time analysis and the development of GIS software using AR/VR technologies are prominent trends in the Asia-Pacific location intelligence market.
An asset management system is a framework that facilitates the use of business software, applications, and infrastructure to enable strategic asset planning and management. It helps enterprises make decisions on buying, selling, and holding assets based on risk tolerance and investment objectives. Asset management refers to the systematic process of acquiring, operating, maintaining, and disposing of physical assets efficiently and cost-effectively. It involves optimizing asset performance, reliability, and lifespans to maximize returns on investments. It can encompass a wide range of financial instruments and strategies and is essential for wealth preservation and growth.
Various industries use asset management systems to improve cost efficiency, optimize resource use, reduce wastage, and minimize downtimes. These systems increase cost savings and enable regular monitoring and maintenance of assets to ensure that they operate at peak efficiency, reducing the risk of breakdowns and expensive repairs. Asset management helps identify and mitigate risks associated with asset failure or depreciation, ensure business continuity, and extend the lifespan of equipment, reducing the need for frequent replacements and associated costs. Asset management can help industries reduce their environmental footprint by optimizing resource usage and minimizing waste. These benefits have increased the focus on asset management across industries, boosting the demand for location intelligence in Asia-Pacific.
The Services Segment to Register the Higher CAGR During the Forecast Period
Based on offering, the services segment is projected to register the higher CAGR during the forecast period. Market players’ growing emphasis on offering data hosting and infrastructure services, the growing need for the collection, analysis, visualization, and interpretation of location-based data, and the increasing demand for geospatial data collection services are expected to support the growth of this segment.
The Cloud-based Deployment Segment to Register the Higher CAGR from 2023 to 2030
Based on deployment mode, the cloud-based deployment segment is projected to register the higher CAGR during the forecast period. The growing use of 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 benefits of cloud-based deployments, such as easy maintenance of the generated data, cost-effectiveness, and scalability are expected to support the growth of this segment.
The Small & Medium-sized Enterprises Segment Projected to Register the Higher CAGR During the Forecast Period
Based on organization size, the small & medium-sized enterprises segment is projected to register the higher CAGR during the forecast period. The increasing adoption of location intelligence solutions to gain insights into market trends, consumer behaviors, foot traffic patterns, and logistics operations, the minimal requirement for in-house infrastructure, the high scalability and easy installation of location intelligence solutions, and the transition to cloud infrastructure due to the benefits offered are factors expected to support the growth of this segment.
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The Retail & E-commerce Segment to Register the Highest CAGR During the Forecast Period
Based on sector, the retail & e-commerce segment is projected to register the highest CAGR during the forecast period. The growing use of retail asset management tools, the increasing need for supply chain management in the retail sector, the increasing popularity of location-based survey & feedback collection tools, and the rising need for location data for targeted marketing campaigns are expected to support the growth of this segment.
China to Dominate the Asia-Pacific Location Intelligence Market in 2023
In 2023, China is expected to account for the largest share of the Asia-Pacific location intelligence market, followed by Japan, India, Singapore, South Korea, Australia & New Zealand, Taiwan, Indonesia, Thailand, the Philippines, Malaysia, Vietnam, and the Rest of Asia-Pacific. Also, China is projected to register the highest CAGR during the forecast period. The increasing deployments of map-based platforms across Chinese organizations, the high penetration of mobile devices, the large customer base for consumer solutions, and the rising need for location data for targeted marketing campaigns are expected to support the growth of this market.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market participants in the last 3–4 years. The key players operating in the Asia-Pacific location intelligence market are 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.), and Precisely (U.S.).
Scope of the Report:
Asia-Pacific Location Intelligence Market Assessment, by Offering
Asia-Pacific Location Intelligence Market Assessment, by Deployment Mode
Asia-Pacific Location Intelligence Market Assessment, by Organization Size
Asia-Pacific Location Intelligence Market Assessment, by Sector
Asia-Pacific Location Intelligence Market Assessment, by Country/Region
Key Questions Answered in the Report:
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.
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 increasing need for real-time tracking of vehicles using GPS, the growing use of location intelligence tools to analyze traffic patterns and congestion in real time, and the increasing use of location intelligence tools for route optimization.
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. 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 pose major challenges to market growth.
The key players operating in the Asia-Pacific location intelligence market are 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.), and Precisely (U.S.).The key players operating in the Asia-Pacific location intelligence market are 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.), and Precisely (U.S.).
Published Date: Jul-2024
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Published Date: Jun-2024
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