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Location Analytics Market Share, Opportunities Analysis, Recent Trends, Regional Growth And Outlook By 2033
Location Analytics Market Analysis
The Business Research Company offers in-depth market insights through Location Analytics Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The location analytics market size has grown rapidly in recent years. It will grow from $20.88 billion in 2023 to $23.83 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to integration of gps technology in smartphones, rise of location-based services (lbs), implementation of geographic information system (gis), increasing use of location analytics in retail for targeted marketing, adoption of location-based analytics in supply chain management.
The location analytics market size is expected to see rapid growth in the next few years. It will grow to $41.76 billion in 2028 at a compound annual growth rate (CAGR) of 15.1%. The growth in the forecast period can be attributed to expansion of location analytics in internet of things (iot), growing demand for real-time location intelligence, integration of location analytics with artificial intelligence (ai), adoption of location analytics in smart cities infrastructure, increasing use of location-based analytics in healthcare. Major trends in the forecast period include development of indoor location analytics solutions, emphasis on privacy and ethical use of location data, integration of augmented reality (ar) with location analytics, use of location analytics for predictive analytics, implementation of location analytics in risk management and security.
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Market Segmentation:
The location analytics market covered in this report is segmented -
1) By Location Type: Outdoor Location, Indoor Location
2) By Component: Solutions, Services
3) By Deployment Mode: On Premise, Cloud
4) By Application: Risk Management, Customer Experience Management, Remote Monitoring, Supply Chain Planning and Optimization, Emergency Response Management, Location Selection And Optimization, Other Applications
5) By Industry Vertical: Transportation And Logistics, Retail, BFSI, IT And Telecommunication, Healthcare, Energy and Utilities, Manufacturing, Other Industry Verticals
Major Driver - Location Analytics Market Thrives On The Surge In Spatial Data And Analytical Tools Adoption
Increasing use of spatial data and analytical tools is expected to propel the growth of the location analytics market going forward. By incorporating layers of geographic data such as traffic, weather, geography, and others, spatial data and analytical tools improve understanding, insights, decision making, and prediction. Location data has the power to forecast demand, identify supply chain disruptions, facilitate infrastructure planning, and more. For instance, according to Impact Networking, a US-based integrated business technology company, the average return on investment for enterprises using business intelligence and analytics is 1300%. Therefore, the increasing use of spatial data and analytical tools drives the location analytics market growth.
Competitive Landscape:
Major companies operating in the location analytics market report are Alteryx Inc., Cisco Systems Inc., CleverMaps Inc., Environmental Systems Research Institute Inc. (ESRI), GaliGeo, Google LLC, Here Technologies, Hexagon AB, Indoor Atlas Ltd, Lepton Software Limited, Microsoft Corporation, Pitney Bowes Inc., PlaceIQ Inc., Precisely Inc., Purple Communications Inc., SAP SE, SAS Institute Inc., Sparkgeo Consulting Inc., TIBCO Software Inc., TomTom International BV, Zebra Technologies Corporation, CARTODB Inc., GapMaps, Hardcastle GIS Solutions Inc., Locale. ai Inc., Mapidea Lda, NEWGROVE Limited, Orbica Limited, Placense, Esri Technologies Limited, International Business Machines Corporation (IBM), CleverAnalytics AS, Foursquare Labs Inc., Geoblink S. L., Mapbox Inc., Near Pte Ltd., Geospark Analytics, Geosys Enterprise Solutions Pvt. Ltd., Geotab Inc.
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Top Trend - Artificial Intelligence (AI) Integration Driving Location Analytics Market Growth
The integration of artificial intelligence solutions has emerged as a key trend in the location analytics market. An AI-fueled approach to location intelligence can help in automating processes, detecting patterns within large sets of data, and making predictions. Developers can incorporate these insights into their applications and businesses using AI, which understands the features of location data. For instance, in November 2021, Noogata, an Israel-based no-code artificial intelligence (AI) data analytics company, launched an AI-based location analytics library for bricks and mortar insights. This enables sales and marketing directors to use AI to acquire actionable insights, such as creating and scoring leads for future sales prospects, by gaining a better understanding of the places that are relevant to their company.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Location Analytics Market Characteristics
3. Location Analytics Market Trends And Strategies
4. Location Analytics Market - Macro Economic Scenario
5. Location Analytics Market Size And Growth
…..
27. Location Analytics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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