The size of the global location analytics market, which was estimated at USD 15.84 billion in 2022, is expected to increase by a 15.7% CAGR to reach USD 50.88 billion by 2030. By combining business and geographic data, location analytics is a process that produces insights from location. These products and services have recently been in high demand from businesses, the government, and the retail sector, which has aided in the expansion of the market. Modern technologies such as cloud computing, the Internet of Things (IoT), artificial intelligence (AI), and big data have a significant impact on the growth of the location analysis application space.
The widespread use of GPS in smartphones, automobiles, and other portable devices has significantly increased the market's demand. Major market participants are making significant moves to improve their positions.
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Which company dominates the Global Location Analytics Market?
- Microsoft Corporation (U.S.)
- Google LLC (Alphabet Inc.) (U.S.)
- Zebra Technologies Corporation (U.S.)
- Esri (U.S.)
- Hexagon AB (Sweden)
- Here Technologies (Netherlands)
- Precisely (US)
- SAP SE (Germany)
- TomTom (Netherlands)
- SAS Institute Inc. (U.S.)
What are the factors driving the growth of the Location Analytics Market?
Businesses rely on data to deliver the best customer experiences and thereby increase their business revenues in an environment where digitization is constantly evolving. Businesses can further manage their business plans by using the ability to visualize spatial data, such as by identifying regional priorities, suitable pricing schemes, and peak buying times. Additionally, businesses can use geospatial data and GIS to connect with a customer's location and provide pertinent product information and directions to nearby shops based on their requirements.
Businesses can use spatial data to their advantage by using the differentiated solutions provided by market leaders. Oracle Corporation, for instance, debuted Spatial Studio 21.2 in August 2021. On the basis of polygon map layers, the platform enables users to design areas. Users are designing their territories by using specific tools.
What are the geographical insights of the Location Analytics Market?
Geographically, the market is divided into five main regions: South America, North America, Europe, Asia Pacific, and the Middle East and Africa.
The location analytics market share is anticipated to be dominated by North America. Position intelligence and geospatial analytics solutions are becoming more and more in demand across various industry verticals, including government, defense, retail, and others, which is supporting market growth. For instance, to implement analytics tools, the United States Government worked with Google LLC, Meta Platforms, Inc. (Facebook), and other technology companies as well as health professionals in March 2020. This has made it easier for organizations to use location data collected from people to stop the spread of the virus, including tracking people's social withdrawal behavior.
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An overview of the report
- The report comprehensively analyzes recent and anticipated market trends to help investors find investment opportunities.
- Market predictions through 2030, starting from estimated market values
- Market trends that are significant across industries, regions, and countries
- Market strategies and significant developments observed
- Market dynamics like drivers, obstacles, opportunities, and other trends require
- comprehensive company profiles of significant players, both established and emerging
- Emerging economies are anticipated to grow through 2030.
Analysts have segmented the "Location Analytics Market" into application, type, and regional segments to aid market participants in better understanding the market. Each element clearly demonstrates the variables that are most likely to have an impact on it and the variables that are anticipated to have a limit. The reader can access specific market updates thanks to the segmented explanation. The market research report on Location Analytics Market Trends also discusses evolving environmental concerns, shifting political environments, and various government approaches to regulatory reforms.
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