Local Listing Management Software Market Size (2024-2030)

The global local listing management software market was valued at USD 2.5 billion in 2023 and is projected to reach a market size of USD 5.88 billion by the end of 2030. Over the forecast period of 2024–2030, the market is projected to grow at a CAGR of 13%. 

Businesses may manage their company listings across various channels and online directories with the help of local listing management software. Businesses may update and modify their information once, from a single location, with the help of this program. In the past, this market had a limited presence because of limitations in software and availability. Presently, the market has seen considerable growth owing to global operations, advanced features, and awareness. In the future, with a growing focus on AI and other technological evolutions, this market is set to see a good upsurge.

Key Market Insights:

Every day, almost 33% of customers utilize search engines to locate nearby businesses.

97% of consumers discover local businesses online before any other source.

Within a day, 18% of local smartphone searches resulted in a purchase.

Companies that have more online reviews make 54% more money.

Approximately 71% of customers have come across false company information online. To address this issue, companies in the market have been prioritizing ensuring real-time updates, checking their validity, and implementing automatic monitoring tools.

Local Listing Management Software Market Drivers:

An increasing usage of electronic devices has been contributing to the success.

Devices like mobile phones, laptops, tablets, etc., have been vital for carrying out our day-to-day activities. Therefore, it is crucial to ensure that every household has at least one piece of equipment. The Internet is one of the most commonly used platforms, with millions of registered users. This technology is important for finding out information about any topic. Consumers usually look for an online presence to learn more about the product, place, and reviews. As such, businesses have been upgrading their techniques. This in turn helps with increasing the profit of the organization. Moreover, the search engine has undergone several improvements that give results based on the individual's location and preference. Furthermore, local and international options are shown, which provides more choices for the customer. As a result, enterprises have been investing in having a good virtual presence to attract a broader consumer base.

The rising emphasis on customer experience has been fueling the growth.

Customers play a significant role in determining the profit of any organization. Online mode plays a big role in this. Reviews and ratings are posted by thousands of individuals in detail about their experiences. Besides, additional information about the quality, color, height, diameter, and other factors is shared publicly. This helps people who have been looking for products. Based on these postings, they can make up their minds if they want to proceed with the item. Furthermore, any sort of negative feedback is taken up by the company to improve the existing products. According to many statistics and surveys conducted, positive reviews have a good impact on the company, leading to more sales. Due to this increasing recognition, the market can expand.

Local Listing Management Software Market Restraints and Challenges:

Inaccuracy, algorithmic uncertainty, data security, and intense competition are the main issues that the market is currently experiencing.

Maintaining the consistency of the software can be a potential concern for this market. Even though there are automated technologies, few of them depend on manual methods. This can lead to human errors affecting the overall accuracy. Secondly, changes in algorithms can be a hindrance. These can change rapidly, causing a lot of chaos in the understanding. Minor changes in them can sometimes cause huge losses if the teams don't keep up with the updates. Thirdly, data privacy can be an obstacle. Misuse of the data or leakage can negatively impact the organization. Therefore, people might not trust the technology, leading to a smaller number of users. Furthermore, heavy competition can create barriers. Well-established services are often chosen by most of the companies. This can severely affect smaller and emerging firms.

Local Listing Management Software Market Opportunities:

Technological advancements have been providing the market with many possibilities. By using fields like artificial intelligence, natural language processing (NLP), and machine learning, valuable insights are gained. This includes information about predictive analysis. The practice of using data to project future results is known as predictive analytics. To identify patterns that could indicate future behavior, the procedure makes use of statistical models and data analysis. Secondly, updates in the software to enhance the user experience facilitate the augmentation. User-friendly features are being incorporated for a better experience. Thirdly, the adoption of voice-based searches is creating a boost. This saves time when compared to typing. Tools are being developed to understand human language. Furthermore, personalization has created numerous opportunities. To understand consumer behavior, analytical tools are being used for the generation of more revenue. 

LOCAL LISTING MANAGEMENT SOFTWARE MARKET REPORT COVERAGE:

Local Listing Management Software Market Segmentation:

Local Listing Management Software Market Segmentation: By Deployment Mode:

• Cloud-Based
• On-Premise

The cloud-based category is both the largest and fastest-growing based on deployment mode. This is because the majority of reputable businesses on the market provide cloud-based solutions. Consequently, accessibility gets simpler. Additionally, it is more reasonably priced, drawing in a wider audience. It also supports automatic upgrades, which is a significant benefit. This reduces a lot of time and manual work.

Local Listing Management Software Market Segmentation: By Organization Size:

• Large-Scale Enterprises
• Small and Medium-Scale Enterprises

With a share exceeding 60% in 2023, the large-scale enterprise category is the largest in terms of organization size. The main cause of this is the ease of access to a variety of materials. These businesses can afford the necessary premium services because they have substantial investment portfolios. Additionally, they are well-known in the field, which makes partnerships and collaborations simpler. They have a good presence in the market, and because of this, many companies tend to go for the products and software released by them. Small and medium-scale enterprises are the fastest-growing. This is mostly attributable to the economy's stability. Funds are drastically increasing due to this. Many startups are known for their creative approaches to solving specific problems. Few outcomes are long-lasting and economical. This draws a lot of investors to finance the projects.

Local Listing Management Software Market Segmentation: Regional Analysis:

• North America
• Asia-Pacific
• Europe
• South America
• Middle East and Africa

North America is the region with the largest growth. This represents around 33% of the total in 2023. Canada and the United States are leading nations in this regard. The economics of this region are mostly responsible for its prosperity. As a result, they have access to several cutting-edge technologies that are necessary for these applications to work, such as AI, ML, and data analytics. Additionally, due to the economy, investments are easier. This can lead to advanced R&D activities and technologies. Besides this, they have other essential resources that are required for their functioning. Furthermore, this region is known for its key players like Text, Synup, Moz Local, Brandify, Rio Seo, and Whitespark. These companies operate globally. Partnerships, launches of apps and features, and investments become easier for these organizations. As a result, a greater profit is generated. Asia-Pacific is the fastest-growing region. This region holds an approximate share of 25%. Countries like China, India, Japan, and Australia are at the forefront. Demand is the reason for this region's growing popularity. Having a digital presence has become very essential. People have increased their online shopping activities due to economic progress. Additionally, factors like dual income and changes in the standard of living are responsible for this. As such, various tools are being launched to provide a better experience. Numerous business firms and corporations have shown their willingness to contribute more capital towards enhancing current technologies with more user-friendly features and membership perks. Furthermore, there has been an increase in R&D activities to broaden human understanding by finding out new technologies and features. These reasons have created heightened growth for the market.

COVID-19 Impact Analysis on the Global Local Listing Management Software Market:

The outbreak of the virus had a positive impact on the market. Many companies had to be shut down temporarily to prevent the spread of the virus. As a result, online mode gained immense attention. There was a shift towards digitalization. To increase sales, many businesses have focused on having an online presence. Online shopping for goods like food products, beverages, and other essentials became prominent. People were constantly looking for options that were safe and better. Postings by other customers provided insights for many. This change in consumer behavior called for the need for this software. As a result, this was rapidly being employed by many firms. R&D activities were carried out to bring in new features and updates to improve the user experience. According to Search Engine Journal, more than 50% of the population searched for online options for open and closed stores during the pandemic. Post-pandemic, the market has continued to grow due to demand.

Latest Trends/ Developments:

Green computing practices are being given prominence. With sustainability gaining immense attention, companies have been working towards the creation of eco-friendly solutions. Servers that utilize a lesser amount of energy are preferred. As a result, companies have been focusing on infrastructure and resources, which fits in well with this.

Key Players:

1. Yext
2. Moz Local
3. BrightLocal
4. Synup
5. Uberall
6. Advice Local
7. Brandify
8. Rio SEO
9. Whitespark
10. Localize

In September 2023, Amazon launched generative AI to significantly enhance the listing generation and maintenance processes for vendors. Sellers on Amazon will find it easier to write more detailed and compelling product descriptions, listing information, and titles due to a new set of generative AI capabilities. Sellers will find it quicker and simpler to add new goods and enhance current ones with these new features.

In January 2023, Apple Maps released a new feature. This feature lets business owners update and manage their information on the platform, which includes important details like business hours and location, photos, logos, special offers and promotions, and more. To do this, the firm is introducing Apple Business Connect, a new website that allows companies to manage their presence across all 1.5 billion Apple devices from a single dashboard.

In November 2022, the SEO Industry Report, The Impact of Local Business Reviews on Consumer Behavior, was released by Moz, Inc., a pioneer in search engine optimization technologies. Moz gave fresh facts and insights to help company owners boost consumer confidence, strengthen brand trust, and establish a stronger online reputation by revealing why people read and leave reviews.