Location Intelligence Market Analysis: Growing At A CAGR Of 16.7% Over The Forecast Period

SAN JOSE, Calif. - Feb. 1, 2021 - PRLog -- The location intelligence market was valued at US$ 9.22 Bn in the year 2018 and expected to reach US$ 36.68 Bn by the year 2027, expanding at a CAGR of 16.7% during the forecast from 2019 to 2027.

Market Insights

"Increasing Application of Analytical Tools and Spatial Data expected to boost the demand for Location Intelligence during the Forecast Period"

Location intelligence is used to collect data generated via Internet of Things (IoT) devices and geographic information system embedded devices. This helps businesses to recognize consumer trends & behavior and generate insights that supports businesses to find opportunities for expansion. Moreover, increasing investments from the companies of various sectors for analytical solutions is one of the factor that drives the market growth. However, cyber-attack may affect stored data which led to privacy concern. Aforementioned factors have critically impacted the overall location intelligence market growth in the recent past. Strategic initiatives and technological investments in this field are some of the factors that are expected to propel the market growth during the forecast period.

Full Report: https://www.credenceresearch.com/report/location-intelligence-market