Location Intelligence Statistics


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Location Intelligence Statistics 2023: Facts about Location Intelligence outlines the context of what’s happening in the tech world.

LLCBuddy editorial team did hours of research, collected all important statistics on Location Intelligence, and shared those on this page. Our editorial team proofread these to make the data as accurate as possible. We believe you don’t need to check any other resources on the web for the same. You should get everything here only 🙂

Are you planning to form an LLC? Maybe for educational purposes, business research, or personal curiosity, whatever the reason is – it’s always a good idea to gather more information about tech topics like this.

How much of an impact will Location Intelligence Statistics have on your day-to-day? or the day-to-day of your LLC Business? How much does it matter directly or indirectly? You should get answers to all your questions here.

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Top Location Intelligence Statistics 2023

☰ Use “CTRL+F” to quickly find statistics. There are total 27 Location Intelligence Statistics on this page 🙂

Location Intelligence “Latest” Statistics

  • A study on the effectiveness of data-enhanced maps found that they increased property views by 10.8% and search conversions to reservations by 12%.[1]
  • More than 50% of respondents said that their C-level executives engaged in the decision-making process relative to the use of mapping service providers, which is more proof that location intelligence is crucial in many firms.[1]
  • A minimum of 50% and a maximum of 78% of respondents claim to have implemented location intelligence initiatives in their businesses.[1]
  • Better location data allowed businesses and firms to increase anticipated delivery times by 2 minutes, saving each driver 30 minutes each day.[1]
  • Companies providing financial services that participated in our study revealed that users spent 8% to 17% more time in applications that provided location.[1]
  • By leveraging geolocation data to confirm client locations and detect potentially dishonest conduct, businesses have decreased fraudulent transactions and account applications by up to 30%.[1]
  • Businesses increased customer satisfaction ratings by 6% to 11% by leveraging location intelligence to give real-time monitoring of cars and goods.[1]
  • According to logistics firm executives who replied to a poll, they were able to boost the number of deliveries per driver by 4% to 7% by adopting dynamic route planning and optimization.[1]
  • 91% of the executives polled predicted that, in three to five years, the importance of mapping and geospatial data would increase and of those polled, 95% agreed that they are crucial for attaining desired business outcomes now.[1]
  • On average, delivery and logistics businesses reported a 5% to 11% drop in delivery expenses and a 6% to 11% rise in client satisfaction.[1]
  • A former head of online and digital operations at a large retailer said that by more effectively using the fleet, the firm was able to cut delivery costs for online purchases by 3% to 4%.[1]
  • According to the principal for robotics and operations for a major international shipper, optimizing fleet delivery routes via real-time guidance resulted in savings of roughly 30 minutes every eight-hour shift, or about 6% in delivery time and cost.[1]
  • By using location data to provide more individualized and timely promotions, retail and e-commerce businesses claimed that they boosted their average online cart size by 11% to 15%.[1]
  • When last-mile logistics initiatives were supplemented by geospatial data, they decreased average delivery costs by 3% to 4%.[1]
  • More than 90% of corporate and community leaders agree that location intelligence is essential for success.[2]
  • The shopping center group increases income by 30% by using location intelligence to provide precise data to retail clients in almost real.[2]
  • In 2020, data visualization mapping will outpace all other location intelligence use cases, according to more than 70% of enterprises, who see it as essential or very vital to achieving their objectives.[3]
  • Just over 50% of businesses claim that, despite excessive vendor promotion, it is not vital to them right now.[3]
  • 90% of government entities believe that location intelligence is crucial or very vital to their continuing activities in 2022.[3]
  • Verifying addresses in advance using improved data purification methods may help you save time and money by reducing the rate of unsuccessful deliveries by up to 70%.[4]
  • Regional perspectives during 30% of revenue were generated in North America in 2021, and this region is anticipated to continue growing over the projected period.[5]
  • From 2022 to 2030, the worldwide location intelligence market is anticipated to expand at a compound yearly growth rate of 15.6%.[5]
  • Due to the growing need for the integration of new data sources brought on by the IoT’s increased adoption and the rise in location-based data, the system integration segment led the market in 2021 with a share of 45.73%.[5]
  • The transportation logistics market had the greatest revenue share with 19.13% of the total market in 2021.[5]
  • 76% of customers now expect businesses to take into account their unique requirements and interests.[6]
  • In order to better understand what consumers want, 42% of firms think there is now a push to identify third-party location intelligence providers.[6]
  • Up to 53% of companies include location knowledge when creating their development and marketing plans.[6]

Also Read

How Useful is Location Intelligence

One of the key benefits of location intelligence is its ability to provide organizations with a deeper understanding of their target audience. Gone are the days when businesses relied solely on demographic data to understand their customers. With the help of location intelligence, companies can now access valuable information such as where their customers live, work, and shop. This data can be used to tailor marketing campaigns, identify new market opportunities, and optimize product placement.

Furthermore, location intelligence can aid in risk management and resource allocation by identifying areas prone to natural disasters or high crime rates. By understanding the geographic trends and patterns that shape risk, organizations can better prepare for potential challenges and take proactive measures to mitigate their impact.

In addition, location intelligence is invaluable in optimizing logistics and supply chain operations. By analyzing traffic patterns, weather conditions, and other geographic factors, companies can streamline their delivery routes, reduce fuel costs, and improve overall efficiency. This not only benefits the organization in terms of cost savings but also enhances customer satisfaction with faster and more reliable service.

Moreover, location intelligence can play a crucial role in urban planning and infrastructure development. By analyzing spatial data, city planners can identify areas in need of improvement, assess the impact of proposed projects, and ensure that resources are allocated efficiently. This can lead to more sustainable and resilient cities that are better equipped to address the needs of their residents.

Overall, the potential applications of location intelligence are vast and diverse, spanning across various industries and sectors. From retail to healthcare, transportation to real estate, organizations of all sizes and scopes can benefit from incorporating geographic data into their decision-making processes.

However, with great power comes great responsibility. It is essential for organizations to handle location data with care and respect the privacy and security of individuals. With the proliferation of location-based services and the rise of data privacy concerns, it is crucial for businesses to adhere to ethical standards and best practices when collecting and utilizing location intelligence.

In conclusion, location intelligence is a game-changer that has the potential to revolutionize the way organizations operate and interact with their surroundings. By leveraging the power of geographic data, businesses can gain a competitive edge, drive innovation, and create valuable experiences for their customers. As technologies continue to advance and data becomes more abundant, the importance of location intelligence is only set to grow in the years to come.

Reference

  1. bcg – https://www.bcg.com/publications/2021/leveraging-location-intelligence-across-industries
  2. esri – https://www.esri.com/en-us/location-intelligence
  3. forbes – https://www.forbes.com/sites/louiscolumbus/2020/02/16/what-you-need-to-know-about-location-intelligence-in-2020/
  4. gbgplc – https://www.gbgplc.com/en/location-intelligence/
  5. grandviewresearch – https://www.grandviewresearch.com/industry-analysis/location-intelligence-market
  6. ringcentral – https://www.ringcentral.com/gb/en/blog/how-to-make-data-minded-decisions-for-your-business-using-location-intelligence/

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