The global location analytics market was estimated at US$ 15.7 billion in 2021, and it is expected to grow by 14% year over year to US$ 17.9 billion in 2022.
The growing usage of location-based apps, location data, spatial data, analytical tools, and other advanced technologies has caused the location analytics market to evolve to a new level. The market for location analytics grew at a remarkable 16.0 % CAGR from 2015 to 2021, according to market research and competitive intelligence firm Fact. MR. Location analytics is becoming increasingly important as businesses attempt to gain a competitive advantage.
The requirement of the hour is for a continuous upgrade of the location analytics market to create a smooth user experience. Service companies can minimize operational expenses while simultaneously increasing returns on investment by implementing cutting-edge advances. Furthermore, the scope of location analytics services is expanding due to evolving compliance and governance needs.
As more organizations rely on location analytics in the future, they will be constantly evolving their techniques to increase efficiency, improve quality, and improve client experience. Using the correct application approach, whether to move, transform, or develop, can perform wonders. The location analytics industry is expected to grow 3.7 times between 2022 and 2032.
What are the Growth Prospects in the US Market?
According to Fact.MR, the location analytics market in the United States is expected to grow at a 14.0 percent value CAGR until 2032, resulting in a US$ 16.8 billion potential. By the conclusion of the projection period, demand is expected to be valued at US$ 23.1 billion. The significant digitization of professional workplaces to expedite workflow and increase productivity is credited with the company’s growth.
Vendors are experimenting with innovative approaches to grow their businesses. • Esri Worldwide Inc. developed a global analytics application in April 2021, which is one of the most recent market advances. Users will be able to access Esris’ ArcGIS online application, as well as geodata and photos, 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 Solutions
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
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