Location Analytics Market Size, Business Opportunity and Future Demand by 2028 | IMARC Group

According to IMARC Group latest report titled "Location Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", offers a comprehensive analysis of the industry, which comprises insights on location analytics market. The report also includes competitor and regional analysis, and contemporary advancements in the global market. The global location analytics market size reached US$ 19.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 53.2 Billion by 2028, exhibiting a growth rate (CAGR) of 17.4% during 2023-2028.

What is Location Analytics?

Location analytics is a specialized field within the broader analytics landscape that leverages geographic data to gain actionable insights. It utilizes technologies such as Geographic Information Systems (GIS), Global Positioning System (GPS), and spatial data analysis. It helps businesses and organizations understand spatial patterns, relationships, and trends. These insights prove invaluable for decision-making across multiple domains, including retail, healthcare, logistics, and public services. It enables businesses to optimize delivery routes, select ideal store locations, and identify high-traffic areas susceptible to advertising. Moreover, this form of analytics provides nuanced customer behavior data by analyzing how people move within physical spaces, making it indispensable for customer-centric business models.

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What are the growth prospects and trends in the location analytics industry?

The global location analytics market is observing significant growth due to the proliferation of big data and IoT devices that generate massive volumes of location-based data. Companies are eager to turn this data into actionable insights, fueling demand for location analytics solutions. Along with this, the increased focus on market segmentation and personalized customer experiences is motivating businesses to adopt location analytics to gain a competitive edge. Additionally, technological advancements in AI and machine learning algorithms have substantially enhanced the capabilities of location analytics tools, making them more precise and user-friendly. There is also a marked shift towards real-time analytics, enabling organizations to make instant data-driven decisions that affect immediate operations. Furthermore, the emergence of cloud-based solutions has made these tools more accessible and cost-effective, thereby widening their adoption across various industry verticals. Regulatory support for data-driven initiatives in several countries provides an additional boost. With these factors in play, the location analytics market is poised for substantial growth, forming an integral part of modern business strategies.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

• Alteryx Inc.
• Cisco Systems Inc.
• Esri
• Galigeo
• Google LLC
• HERE Technologies
• Hexagon AB
• International Business Machines Corporation
• Microsoft Corporation
• Oracle Corporation
• Pitney Bowes Inc.
• SAS Institute Inc.
• Sisense Inc.
• TIBCO Software Inc

Location Analytics Market Segmentation:

Our report has categorized the market based on region, component, deployment mode, location type, application and end use industry.

Breakup by Component:
• Software
• Services

Breakup by Deployment Mode:
• On-premises
• Cloud-based

Breakup by Location Type:
• Indoor
• Outdoor

Breakup by Application:
• Remote Monitoring
• Sales and Marketing Optimization
• Asset Management
• Risk Management
• Facility Management
• Others

Breakup by End Use Industry:
• BFSI
• Healthcare
• Hospitality
• Government
• Transport and Logistic
• IT and Telecom
• Retail and Consumer Goods
• Media and Entertainment
• Others

Breakup by Region:
• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

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This release was published on openPR.