The Asia Pacific Location Intelligence Market would witness market growth of 15.9% CAGR during the forecast period (2022-2028).
In the finance sector, where regulations aimed to combat money laundering and fraud require organizations to comprehend the connections among multiple accounts and detect potentially fraudulent conduct, geo-enriching consumer information and accounts are becoming more common. Customers and transactions, events and regions of risk, and geographic links between accounts can all help with this. For example, geocoding location data correctly might be the difference between a facility being incorrectly designated as being in or out of a flood zone. That's a discrepancy of a few hundred feet that can add up to a lot of money, either because the company undercharges on a policy and therefore is exposed to more risk than it anticipated, or because it overcharges a client and loses that business to a competitor who charges more accurately.
Additionally, the growing necessity of asset management throughout industries is likely to propel the location intelligence market forward during the forecast period. Location data is being used in a variety of industries, including automotive, transportation and logistics, manufacturing, and healthcare.
India's and China's manufacturing industries are both remarkably strong, accounting for a large amount of each country's GDP. The Indian manufacturing industry generated 16-17% of the country's GDP in 2018 and is anticipated to be one of the fastest-growing sectors, according to the International Trade Administration. The industrial machinery sector in India was essentially the manufacturing industry's core. Technology has encouraged creativity in recent years, with digital transformation becoming a vital component of gaining a competitive advantage in this highly competitive industry. In the manufacturing sector, India has always prioritized domestic output and consumption.
The China market dominated the Asia Pacific Location Intelligence Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,002.9 million by 2028. The Japan market is estimated to grow at a CAGR of 15.2% during (2022 - 2028). Additionally, The India market would experience a CAGR of 16.6% during (2022 - 2028).
Based on Application, the market is segmented into Sales & Marketing Optimization, Asset Management, Remote Management, Customer Management, Risk Management, Facility Management, Workforce Management, and Others. Based on Offering, the market is segmented into Solution and Services (System Integration, Consulting, and Others). Based on End User, the market is segmented into Transportation & Logistics, BFSI, IT & Telecom, Retail & Consumer Goods, Government & Defense, Media & Entertainment, Manufacturing & Industrial, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Location Intelligence Market is Projected to reach USD 36 Billion by 2028, at a CAGR of 15.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Robert Bosch GmbH (Bosch Software Innovations GmbH), Autodesk, Inc., Qualcomm, Inc., Tibco Software, Inc. (Vista Equity Partners), Trimble, Inc., Esri, Inc., Navizon, Inc., SuperMap Software Co., ltd., MDA Corporation, and Cuebiq, Inc.
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