As location intelligence companies continuously evolve and transform, the market value keeps expanding, opening tremendous investment opportunities.

As location intelligence companies continuously evolve and transform, the market value keeps expanding. As a result, the industry is constantly searching for the best solutions to help companies in various sectors to meet customer needs and achieve business goals.

SEIZE THE MARKET

Location intelligence is a subcategory of the IoT concept that allows businesses to identify consumer trends, customer behavior, and other data about niche markets to make better decisions, deliver better products and services, and mitigate market risks while incorporating real-time location monitoring capabilities.

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Amid the COVID-19 crisis, a report released by Markets and Markets states that the worldwide location intelligence market reached a value of US$15.7 billion in 2021 and is anticipated to increase at a Compound Annual Growth Rate (CAGR) of 13.8%, reaching US$29.9 billion in 2026.
The rise is projected to be aided by increased demand for data-rich location solutions to boost customer engagement and operational efficiency.

Furthermore, according to the report by Reportlinker, China, the world’s second-largest economy, will remain among the fastest-growing in this cluster of regional markets. It is forecasted to reach a projected market size of US$6.8 billion by 2027, trailing a CAGR of 18.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each is forecast to grow at 10% and 12.2%, respectively, over the 2020-2027 period.

Europe will drive the 13% CAGR estimated for this segment. This regional market accounted for a combined market size of US$1.3 billion in 2020 and will reach a projected size of US$3.1 billion by 2027.

Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.5 billion by 2027, while Latin America will expand at a 15.5% CAGR through the analysis period.

GETTING BIGGER WITH MERGERS AND ACQUISITIONS

While many new startups are emerging, a few companies are being acquired by larger companies.

For instance, last year, the strategic acquisition of Uber Media by Near will enable Near to enhance its portfolio of data intelligence products for its customers in the U.S. market. Moreover, Precisely has announced a formal agreement to acquire PlaceIQ, a provider of location intelligence. As a result, Precisely will be able to improve its location data offerings. Either party has not disclosed the financial terms.

In addition, StreetLight Data, a pioneer in mobility analytics, announced its recent acquisition by Jacobs. StreetLight Data leverages its massive data and machine learning capabilities to focus on mobility, enabling users to solve complex transportation challenges. Jacobs’ goal is to expand its end-to-end digital solutions portfolio and concentrate on ESG while acquiring high-growth and high-recurring revenue software firms that provide value for its customers and the communities they serve.

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