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 real-time data on where people are and what they are doing. This information can be incredibly powerful for businesses looking to target their marketing efforts, understand customer behavior, and optimize their operations. For example, retailers can use location data to determine where to open new stores, identify high-traffic areas for advertising, and track customer movements within their stores to improve layout and product placement.

Location intelligence is also transforming the way governments and organizations approach problem-solving. By analyzing location data, authorities can identify patterns in crime, traffic flow, and population density to better allocate resources and improve public safety. For instance, emergency services can use geospatial data to pinpoint the location of accidents or incidents more accurately, leading to faster response times and potentially saving lives.

Moreover, location intelligence has revolutionized the way we navigate the world around us. With GPS technology now embedded in our phones, cars, and even wearables, we can easily access turn-by-turn directions, find nearby attractions, and locate friends and family. This technology has not only made travel more convenient but has also enhanced our daily routines by helping us save time and make more informed decisions about our whereabouts.

However, as with any technological advancement, location intelligence comes with its own set of challenges. Privacy concerns have arisen as companies collect and store large amounts of location data, often without the clear consent of users. Questions about data security and the potential misuse of personal information have sparked debates about the ethical implications of location intelligence and its impact on individual privacy rights.

Furthermore, there are limitations to the accuracy and reliability of location intelligence data. Factors such as signal interference, outdated mapping data, and human error can all affect the precision of location-based services. As a result, businesses and organizations must exercise caution when making important decisions based on location data and always consider the potential margin of error in their analyses.

Despite these challenges, there is no denying the transformative power of location intelligence in today’s digital age. From improving business strategies to enhancing public safety and redefining how we explore the world, the utility of location intelligence is vast and continues to grow with each technological advancement. As we navigate the complexities of a data-driven world, it is essential to harness the potential of location intelligence responsibly and ethically to ensure that its benefits are leveraged for the greater good.

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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