The market for location analytics worldwide was estimated to be USD 15.7 billion as of 2021 and is predicted to grow by 14 percent annually to US17.9 billion in 2022. 17.9 billion by 2022.
The increasing use of location-based apps, such as location data, spatial data, analytical tools, and other sophisticated technologies, has led the market for location analytics to grow to a new level. According to market research and competitive intelligence, the analytics market based on location increased at a staggering 16.0 percent CAGR between 2015 and 2021. MR. Location analytics is becoming more vital as businesses try to increase their competitive edge.
The moment’s need is to ensure a continual improvement of the market for location analytics to provide a seamless user experience. Service providers can cut down on operating expenses and increase the return on investment by using the latest technologies. Additionally, the range of the services offered by location analytics expands due to changing demands for compliance and governance.
As more companies rely on location-based analytics, They will keep changing their strategies to increase efficiency, enhance quality, and improve the client experience. Whether it’s to transform, move or even develop, using the correct application strategy can do wonders. The market for location analytics is predicted to expand 3.7 times between 2022-2032.
What are the Growth Prospects in the US Market?
According to Fact.MR, the market for location analytics in the United States, is expected to expand at the rate of 14.0 percent value compound annual growth from now until 2032, which will result in a US$18 billion 16.8 billion worth of potential. When the forecast period, the demand is anticipated to be worth US$1 23.1 billion. The rapid digitization of professional workplaces to streamline workflow and boost productivity is one of the reasons for the company’s expansion.
Vendors are testing new strategies to expand their business. The company Esri Worldwide Inc. developed an analytics platform for the world in April 2021. It is among the latest innovations in the market. Customers will now gain access to Esri’s ArcGIS online app and photographs and geodata through the application.
Key Segments Covered in the Location Analytics Industry Report
- Location Analytics by Component :
- Location Analytics Solutions
- Geocoding & Reverse Geocoding
- Data Integration & ETL
- Reporting & Visualization
- Thematic Mapping & Spatial Analysis
- Other Solutions
- Location Analytics Services
- Managed Services
- Professional Services
- Location Analytics by Location Type :
- Indoor Location Analytics
- Outdoor Location Analytics
- Location Analytics by Deployment Mode :
- On-Premises Location Analytics Deployment
- Cloud-based Location Analytics Deployment
- Location Analytics by Organization Size :
- Location Analytics for Small and Medium-sized Enterprises
- Location Analytics for Large Enterprises
- Location Analytics by Application :
- Location Analytics for Risk Management
- Location Analytics for Emergency Response Management
- Location Analytics for Customer Experience Management
- Location Analytics for Remote Monitoring
- Location Analytics for Supply Chain Planning and Optimization
- Location Analytics for Sales and Marketing Optimization
- Location Analytics for Location Selection and Optimization
- Location Analytics for Other Applications