The sales of Location Intelligence will continue to increase, as evidenced by a CAGR of 16.0 Percent by 2021 Fact.MR Study
The market for location analytics in the world was estimated to be US$15.7 billion in 2021. 15.7 billion by 2021 and is predicted to grow by 14 percent per year, reaching US17.9 billion in 2022. 17.9 billion by 2022.
The rising use of location-based applications and data from locations spatial data, analytical tools, and other sophisticated technologies has led the location analytics market to grow to a new height. According to market research and the firm of competitive intelligence Fact, the location analytics market increased at a staggering 16.0 percent CAGR from 2015 to 2021. MR. Location analytics is becoming more vital as businesses try to increase their competitive edge.
The moment’s need is to ensure a continual improvement of the market for location analytics to provide a seamless user experience. Service providers can reduce operational costs while increasing ROI by implementing advanced technologies. Additionally, the range of services for location analytics is growing due to the changing requirements for compliance and governance.
As more businesses depend on location-based analytics shortly, they will continue developing their methods to improve efficiency, quality, and customer experience. Using the correct application strategy, whether to transform, move, or develop, can be a boon. The market for location analytics is predicted to expand 3.7 times between 2022 and 2032.
What are the Growth Prospects in the US Market?
According to Fact.MR, the market for location analytics in the United States, is expected to expand at the rate of 14.0 percent value compound annual growth from now until 2032, giving the potential of US$18 billion 16.8 billion worth of potential. At the end of the forecast period, the demand is anticipated to be worth US$23.1 billion. 23.1 billion. The rapid digitization of professional workplaces to speed the workflow and improve productivity is one of the reasons for the company’s growth.
Vendors are exploring new strategies to expand their business. It is worth noting that Esri Worldwide Inc. developed an application for global analytics in April 2021. It is among the latest market developments. The users will have the ability to gain access to Esri’s ArcGIS online app along with photos and geodata via 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 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