The location analytics market is set to thrive at a strong CAGR of 14.8% during the forecast period. The market holds a share of USD 20.66 billion in 2023, while it is anticipated to cross a value of USD 82.14 billion by 2033.
The research report on the location analytics market explains that the expanding international businesses and advanced location-based enterprise targets are fueling the market growth. The advanced location analytics tools go beyond the basic mapping and add different filters to segregate the data well. These features help businesses in observing the consumer density in any region along with the age, gender, and dimension filters. The location analytics system also helps enterprises in forming predictions, forecasts, and optimizing sales channels. Furthermore, the rising demand to gain a competitive advantage across different industries also flourishes the sales of location analytics systems.
New organizations adopt strategies that focus on different locations and their sales figures in those regions. Small-sized and medium-sized enterprises, along with the BFSI sector adopting location analytics, increase the scalability and agility of the business. The integration of the elements of industries 4.0, such as AI, Machine Learning, Internet of Things with the location analytics platforms makes it more effective
Organizations that work for weather forecasting, population density, the effect of a pandemic, and dynamic geospatial information also adopt location analytic systems. The systems help simplify the complex data and showcase it in laymen’s templates. Rising competition amongst companies across the verticals looks for strong product and service research that could provide them with an edge over each other. Lastly, the rising proficiency and productivity of platforms due to rapid digitization is also flourishing the market growth.
Businesses of different sizes now look for a solution that reduces the research cost while also giving them accurate information about their product’s sale in a specific region. Thus, the expansion of these businesses may cater to the location analytics market. An important vertical of location analytics is the healthcare industry, as it requires location data to regulate and inspect primary care clinics, patient count, and numerous functional hospitals.
Location analytics market outlook states that the future looks promising for the market as it integrates with the latest technology like AI and machine learning. The scope of location analytics in geographical prediction and forecast is likely to support the market assessment. Furthermore, personalized and customized location analytics solution for businesses is anticipated to play a vital role in the market. These customized solutions usually enhance the decision-making power of an organization.
| Attributes | Details |
|---|---|
| Location Analytics Market CAGR (2023 to 2033) | 14.8% |
| Location Analytics Market Size (2023) | USD 20.66 billion |
| Location Analytics Market Size (2033) | USD 82.14 billion |
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From 2017 to 2022, the global location analytics market registered a comparatively higher CAGR of 17.2%. The market was positively affected by the pandemic as corporate and business management extended their service and advanced their consumer-based marketing tactics. The expansion of global positioning systems (GPS) and social media channels has also fueled the demand for location analytics.
Companies adopting advanced business strategies are likely to deliver steady growth during this period. The highly competitive market systems demand powerful solutions for location mapping and regional data analysis. These services are found in the integrated location analytics systems. The market is likely to grow steadily between 2023 and 2028.
The expanding international businesses coupled with the elements introduced by location analytics, such as location sensors and mobile devices. The enhanced capabilities such as location-specific, optimized business practices and predictions. The location analytics market is anticipated to thrive at a CAGR of 14.8% between 2023 and 2033.
The increasing competition and rising application of spatial data are fueling the demand for location analytics tools. Furthermore, the proliferating usage of location-based features and applications is anticipated to drive market growth. Location analytics is widely used as a predictive technology in disaster management applications. The wider range of verticals, coupled with the rising requirement for geographic predictive analytics, is expanding the location analytics market size.
Integration of location-based mapping services with business intelligence modules is also gaining traction in the market. More people installing applications and games that deal with location tracing and analytics is likely to fuel the growth of the location analytics market. Collaboration and mergers between technology giants and location analytics experts to work on research and development and personalized solutions are anticipated to transform the location analytics market.
The main restraints for the market are the limited return on investment (ROI), costly initial deployment, and lower regulatory norms. Furthermore, the lower penetration of 5G, GPS, and smartphone technology in some parts of the world limits the market growth.
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Higher Competition across Businesses along with a Large Smartphone Consumer Base is propelling the Regional Growth
The North American location analytics market is expected to hold the prominent space in 2023.
The United States is expected to dominate the North American region with the higher penetration of smartphones and expanding location-based applications. Risk management and remote monitoring are in high demand across all verticals. The integration of business intelligence systems with location-based analytics tools is delivering fruitful results for enterprises. This further supports the marketing campaigns of companies as they hold more information about the regional market scope.
The application of these systems in analyzing disaster management programs and location-based mapping is helping the government and authorities across the country. Thus, geographical applications are also fueling the demand for location analytics systems.
Expanding Geospatial Applications along with Higher Smartphone Consumer Base is propelling the Regional Growth
The Asia Pacific region, with its emerging economies like China and India, is penetrating each technologically advanced market. The application of location analytics systems has increased in the region with the proliferating businesses and startups. Furthermore, the government authorities applying these systems in geographical research and climate analysis is likely to fuel the market growth. The huge population of this region is also expected to contribute to location-based markets such as real-time location systems, GPS markets, and location-based analytics markets. The research and development programs integrating the technology with artificial intelligence and IoT are also fueling the sales of location analytics systems.
Increased Tourism with Higher Penetration of Automotive Applications of Location Analytics Are Propelling the Regional Growth
Expanding European businesses and an increased footfall of tourists in countries like Germany, France, Spain, and Poland are fueling the adoption of location analytics systems. Furthermore, the advanced road norms and technology implemented consume a significant chunk of the location analytics market due to its integration with sensory technology that makes traffic management easy. Furthermore, Germany is expected to hold a significant share of the market in the European region. The growth is attributed to expanding transport, communication, delivery system, and logistic services. These elements influence businesses positively.
| Segment | Top Application |
|---|---|
| Top Sub-segment | Remote Monitoring |
| Attributes | 10% gains through 2033 |
| Segment | Top Industry Vertical |
|---|---|
| Top Sub-segment | Transportation and Logistics |
| Attributes | 25% of the global share |
The remote monitoring segment leads in the application category with an estimated gain of 10% by 2033. This growth is attributed to the higher penetration of remote businesses with locations around the world. International businesses with different locations for different tasks are fueling the demand for remote monitoring applications of location analytics. Utilization of personal spaces for saving the time and space of businesses while saving the workspaces from potential hazards are factors for the growth of this segment.
By industry vertical, the transportation and logistics segment is expected to hold a global share of 25% by 2033. The growth of this segment is directly affected by the increased logistics operations of expanding businesses that use location analytics to figure out the consumer base and delivery options. The systems also help to ensure the delivery status of any package. The location analytics system also helps in finding a courier vehicle, like a truck or a van.
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The key players focus on creating a system that can be customized according to the need of the enterprise. Furthermore, the target is to provide an accurate location and add other important elements like density, number, and other data in the analytical report. The market players tie hands with the technology giants to make their products and service more trackable and safer.
Market Developments
The location analytics market held a value of USD 18 billion in 2022.
The market is estimated to hold a value of USD 20.66 billion in 2023.
The location analytics market is anticipated to hold a valuation of USD 82.14 billion by 2033.
The location analytics market thrived at a 17.2% CAGR in the last four years, from 2017 to 2022.
The location analytics market is expected to record a CAGR of 14.8% by 2033.
Remote monitoring is expected to lead the application category with an expected gain of 10% by 2033.
The transportation and logistics segment is anticipated to top the industrial vertical tally with a hold of 25% of global support.
1. Executive Summary | Location Analytics Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 5.1. Software 5.2. Services 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Location Type 6.1. Indoor 6.2. Outdoor 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment Mode 7.1. On-premise 7.2. Cloud 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 8.1. Remote Monitoring 8.2. Sales & Marketing Optimization 8.3. Asset Management 8.4. Risk Management 8.5. Facility Management 8.6. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-User 9.1. BFSI 9.2. Retail & Consumer Goods 9.3. Healthcare 9.4. Education 9.5. Government & Defence 9.6. Transport & Logistic 9.7. IT & Telecom 9.8. Media & Entertainment 9.9. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. South Asia 10.5. East Asia 10.6. Oceania 10.7. MEA 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. ALTERYX 20.2. ESRI 20.3. GOOGLE LLC 20.4. HERE TECHNOLOGIES 20.5. HEXAGON 20.6. MICROSOFT CORPORATION 20.7. ORACLE CORPORATION 20.8. PITNEY BOWES 20.9. SISENSE INC 20.10. SYNCSORT 21. Assumptions & Acronyms Used 22. Research Methodology
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