Location Analytics Market Expected to Targets $31.13 billion by 2027

Proliferation of smartphones and upsurge in usage of GPS-enabled devices, growing usage of spatial data and analytical tools

WILMINGTON, DE, UNITED STATES, November 18, 2024 /EINPresswire.com/ -- The global 𝐋𝐨𝐜𝐚𝐭𝐢𝐨𝐧 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 size was valued at $10.29 billion in 2019, and is projected to reach $31.13 billion by 2027, registering a CAGR of 15.5% from 2020 to 2027. Proliferation of smartphones and upsurge in usage of GPS-enabled devices, growing usage of spatial data and analytical tools, increasing adoption of location analytics for asset management across various industries, and rise in adoption of location analytics in retail sector drive the global location analytics market. On the other hand, consent and privacy concerns restrain the growth to some extent. Nevertheless, emergence of advanced technologies in the field of GIS, and integration of AI with location analytics are expected to create multiple opportunities in the industry.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐢𝐧 𝐏𝐃𝐅 - 278 𝐏𝐚𝐠𝐞𝐬) 𝐚𝐭: https://www.alliedmarketresearch.com/request-sample/A09449

Based on component, the software segment contributed to more than three-fifths of the global location analytics market share in 2019, and is projected to rule the roost by the end of 2027. The growing need across the businesses to see trends on maps and graphics to optimize certain business opportunities drive the growth of the segment. On the other hand, the services segment would manifest the fastest CAGR of 16.8% throughout the forecast period. This is due to an extensive adoption of services among end users, as it ensures effective functioning of location analytics software throughout the process.

The growth of the global location analytics market size is mainly driven by proliferation of smartphones and upsurge in usage of GPS-enabled devices. In addition to this, factors such as growing usage of spatial data and analytical tools, increasing adoption of location analytics for asset management across various industries, and rise in adoption of location analytics in retail sector fuels the market growth. Moreover, increase in the adoption of location-based services during COVID-19 pandemic fueling the market growth. However, consent and privacy concerns may hamper the market growth to some extent. On the other hand, emergence of advanced technologies in the field of GIS, and integration of AI with location analytics is expected to provide lucrative opportunities for the location analytics market growth during location analytics market forecast period.

𝐁𝐮𝐲 𝐍𝐨𝐰 & 𝐆𝐞𝐭 𝐄𝐱𝐜𝐥𝐮𝐬𝐢𝐯𝐞 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 : https://www.alliedmarketresearch.com/location-analytics-market/purchase-options

By location type, the global location analytics market share was dominated by the indoor segment in 2019 and is expected to maintain its dominance in the upcoming years, due to the extensive usage of smart devices and smartphones which are integrated with advanced location-based services. However, the outdoor segment is expected to witness the highest growth, due to the increasing adoption of location based marketing/advertising by the organizations to target consumers at a person-level with offline or online messaging based on physical location.

Furthermore, businesses across the globe are planning to come back stronger; hence, location analytics software adoption would help them to map COVID-19 density zones to plan their business operations accordingly. For instance, in May 2020, Transerve Technologies, a provider of geospatial solutions launched a solution to map COVID-19 density zones using remote sensing and geospatial technologies.

𝐓𝐡𝐞 𝐤𝐞𝐲 𝐩𝐥𝐚𝐲𝐞𝐫𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝 𝐢𝐧 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭 𝐢𝐧𝐜𝐥𝐮𝐝𝐞

𝐀𝐋𝐓𝐄𝐑𝐘𝐗, 𝐇𝐄𝐑𝐄 𝐓𝐄𝐂𝐇𝐍𝐎𝐋𝐎𝐆𝐈𝐄𝐒, 𝐒𝐈𝐒𝐄𝐍𝐒𝐄 𝐈𝐍𝐂, 𝐌𝐈𝐂𝐑𝐎𝐒𝐎𝐅𝐓 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐎𝐑𝐀𝐂𝐋𝐄 𝐂𝐎𝐑𝐏𝐎𝐑𝐀𝐓𝐈𝐎𝐍, 𝐒𝐘𝐍𝐂𝐒𝐎𝐑𝐓, 𝐇𝐄𝐗𝐀𝐆𝐎𝐍, 𝐄𝐒𝐑𝐈, 𝐆𝐎𝐎𝐆𝐋𝐄 𝐋𝐋𝐂, 𝐏𝐈𝐓𝐍𝐄𝐘 𝐁𝐎𝐖𝐄𝐒

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮'𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/A09449

Based on geography, North America held the major share in 2019, generating around two-fifths of the global location analytics market. This is due to continuous technological advancements in location-based services field and enhanced financial support for technology development from the government in this province. At the same time, the same Asia-Pacific region would also showcase the fastest CAGR of 18.8% during the forecast period. This is owing to the factors such as the growth in number of industries, such as manufacturing, construction, real estate, tourism, and others; increase in adoption of smartphones and location-enhanced marketing; and integration of location-based search with social networking websites.

In 2019, the global location analytics market was dominated by the software segment, and is expected to maintain its dominance in the upcoming years, due to surge in adoption of location analytics in the organization to provide personalized and integrated products and services to customers. The location analytics software allows companies of all sizes to gain a competitive advantage with mapping tools for business. However, the services segment is expected to witness the highest growth, due to an extensive adoption of services among end users, as it ensures effective functioning of location analytics software throughout the process.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A09449

Based on industry vertical, the transport and logistics segment accounted for nearly one-fifth of the global location analytics market revenue in 2019, and is anticipated to lead the trail by 2027. The advent of digitalization fuels the need for location analytics in the transport & logistic industry, owing to its ability to offer customized marketing strategy solutions. Simultaneously, the healthcare segment would garner the fastest CAGR of 22.4% from 2020 to 2027. This is attributed to rise in need to use maps and demographic data to identify vulnerable populations and disease surveillance with consistent, accurate, and latest data to enable informed decisions that may lead to improved site performance and outcomes.

𝐎𝐭𝐡𝐞𝐫 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬:

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David Correa
Allied Market Research
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