Press release
Evolving Market Trends In The Location Analytics Industry: Advancements In Location Analytics
Location Analytics
What Is the Expected Location Analytics Market Size During the Forecast Period?
The market size of location analytics has seen a swift expansion in the past few years. The market is predicted to surge from a value of $23.31 billion in 2024 to $26.33 billion in 2025, with a compound annual growth rate (CAGR) of 12.9%. The growth throughout the historical period is attributed to the incorporation of GPS technology in smartphones, the emergence of Location-Based Services (LBS), application of the Geographic Information System (GIS), growing use of location analytics in retail for pinpointed marketing, and the implementation of location-based analytics in supply chain management.
In the coming years, one can anticipate a swift surge in the location analytics market size which is projected to accumulate $49.34 billion by 2029, with a compound annual growth rate (CAGR) of 17.0%. The propelling factors during the prediction period are predominantly the broadening use of location analytics in the internet of things (IoT), an escalating call for real-time location intelligence, amalgamation of location analytics with artificial intelligence (AI), the implementation of location analytics in the infrastructure of smart cities, and a rising tendency to utilize location-based analytics in healthcare. Forecasts for this period also highlight major trends such as the creation of indoor location analytics solutions, the focus on privacy and ethical usage of location data, the convergence of augmented reality (AR) and location analytics, the application of location analytics in predictive analytics, and the adoption of location analytics for security and risk management purposes.
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What Are the High-Growth Segments in the Location Analytics Market?
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
Subsegments:
1) By Outdoor Location: Geospatial Analytics, GPS Data Analytics, Mobile Location Analytics
2) By Indoor Location: Wi-Fi Analytics, Bluetooth Beacons, RFID Tracking, Indoor Mapping Solutions
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What Key Drivers Are Expected to Influence Future Location Analytics Market Growth?
The escalating adoption of spatial data and analytical tools is anticipated to boost the location analytics market's expansion in the future. These tools enhance comprehension, insights, decision-making, and prediction by adding layers of geographical data such as traffic, weather, geography, among others. Location data holds the capability to anticipate demand, detect distribution chain disturbances, assist in infrastructure planning, and more. For example, Impact Networking, a US-based business technology integrator, states that the average enterprise return on investment for those utilizing business intelligence and analytics is 1300%. Hence, the growing implementation of spatial data and analytical tools propels the growth of the location analytics market.
Which Companies Hold the Largest Share Across Different Location Analytics Market Segments?
Major companies operating in the location analytics market include 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., SAP SE, SAS Institute Inc., Sparkgeo Consulting Inc., TIBCO Software Inc., TomTom International BV, Zebra Technologies Corporation, 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.
What Trends Are Driving Growth in The Location Analytics Market?
Major businesses active in the location analytics market are creating highly sophisticated solutions like location intelligence platforms in order to provide customers with enhanced features. These platforms are software solutions that amalgamate, evaluate, and graphically represent geospatial data, providing valuable insights for decision making and strategic planning across various sectors. For example, Unacast, a location intelligence and insights firm based in the USA, unveiled Unacast Insights in May 2023. This robust location intelligence platform is designed for real estate investors, retailers, and marketers seeking to comprehend patterns of movement across America and within specific places of interest. The platform allows its users to engage with migration and demographic trends at the state, city, and zip code levels and also understand patterns of foot traffic across specific venues or areas of interest.
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What Are the Emerging Geographies for The Location Analytics Market Growth?
North America was the largest region in the location analytics market in 2024.The regions covered in the location analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Location Analytics Market?
2. What is the CAGR expected in the Location Analytics Market?
3. What Are the Key Innovations Transforming the Location Analytics Industry?
4. Which Region Is Leading the Location Analytics Market?
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