LOCATION ANALYTICS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Global Location Analytics market is estimated to be valued at USD 21.25 Bn in 2024 and is expected to reach USD 65.32 Bn by 2031, growing at a compound annual growth rate (CAGR) of 17.4% from 2024 to 2031.
Location analytics refers to the collection and analysis of geographic or spatial data to understand customer behavior and make key business decisions. It involves gathering, managing and processing location-based data through various tools and technologies to derive valuable insights. With the proliferation of GPS, Wi-Fi and Bluetooth enabled devices, there is a massive and continuous stream of location data being generated every moment. Location analytics enables businesses to leverage this geolocation information to gain a deeper understanding of customer mobility patterns, facility management and resource optimization.
Market Dynamics:
The location analytics market is driven by the growing need for spatially enabled business intelligence across industries. As location becomes an increasingly important parameter for data-driven decision making, more companies are adopting location analytics solutions to improve operational efficiency and customer experience. Another key growth factor is the widespread use of IoT and connected devices that serve as a rich source of geospatial data. However, data privacy and security concerns related to location data pose a challenge for vendors. The market also faces restraints from the lack of skilled professionals needed for complex spatial analysis. On the positive side, integration of advanced technologies like AI, ML and cloud computing is expected to open up new opportunities for real-time predictive analytics using location as a dimension.
Key features of the study:
- This report provides in-depth analysis of the global location analytics market, and provides market size (USD Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global location analytics market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Microsoft Corporation, Google LLC (Alphabet Inc.), Zebra Technologies Corporation, Esri, Hexagon AB, Here Technologies, Precisely, SAP SE, TomTom, and SAS Institute Inc.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global location analytics market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global location analytics market.
Market Segmentation
Market Segmentation
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