Location Analytics Market to hit $75 Bn by 2032, Says Global Market Insights Inc.
Major players involved in the location analytics market include Cisco Systems Inc., Esri Global, Inc., HERE Global, B.V., Galigeo SAS, GeoMoby, Google LLC,...
Selbyville, Delaware, Jan. 24, 2023 (GLOBE NEWSWIRE) -- The location analytics market valuation is expected to surpass USD 75 billion by 2032, as reported in a research study by Global Market Insights Inc. The robust need for retailers to understand consumer preferences is primarily boosting the market revenue.
By identifying customer purchasing trends across different demographics, location analytics solutions enable merchants to plan and create useful marketing campaigns. It allows businesses to understand customer requirements and launch products or services accordingly. Such software uses tags and beacons for indoor positioning to track personnel and devices efficiently.
User tracking helps brands understand how customers are reacting to their products and what improvements can be implemented. The location analytics market from the service segment is anticipated to record a steady growth rate of nearly 15% from 2023 to 2032. The rapid increase in the use of numerous interconnected technologies, including GPS/GNSS systems, scanners, and cameras has facilitated the need for efficient integration and maintenance of these systems. The awareness regarding the advantages of these technologies will influence the need for location analytics services.
A major advantage of this service is that it allows businesses to reduce costs as they gain insights and tackle potential issues before they occur. Request for a sample of this research report URL URL The energy and utility segment of the location analytics market is estimated to witness over 10% CAGR up to 2032. With the increasing use of wireless technologies and equipment to assure safety and security, location analytics solutions are predicted to witness commendable deployment across the sector.
Location-based mapping solutions help experts conduct site analyses to increase the efficiency of energy infrastructures like wind and solar energies. The location analytics market from geocoding and reverse geocoding segment accounted for 45% revenue share in 2022. As the demand for businesses to evaluate and convert both geographic coordinates are on the rise, the geocoding and reverse geocoding solution segment is set to observe the market growth.
Geocodes help companies analyze their clients and assess risk before targeting, managing portfolios, and investing in their networks. It allows companies to understand the challenges and opportunities that will open by taking on a new client. Latin America location analytics market share to cross USD 14 billion by 2032, attributed to the rising use of remote sensing technologies in industries like disaster management, agriculture, and urban development.
The penetration of smartphones and the desire for location-based marketing will speed up the expansion of the regional market. Major location analytics industry participants are Cisco Systems Inc., Esri Global, Inc., HERE Global, B.V., Galigeo SAS, GeoMoby, Google LLC, IBM Corporation, PlaceIQ, Inc., Microsoft Corporation, Purple WiFi, SAP SE, and Oracle Corporation. For Instance, in June 2022, Esri Global Inc., introduced the ArcGIS geoanalytics engine, enabling spatial analysis for huge data.
It offers cloud-of-choice functionality that integrates with pre-existing analysis workflows without the need for further hardware or expertise. Integration of the ArcGIS geoanalytics engine will help businesses manage supply chains, optimize operations, and provide better customer service. Secure a copy of the premium research report URL URL Partial chapters of report table of contents (TOC): Chapter 2 Executive Summary2.1 Location analytics market 360º synopsis, 2018 – 20322.2 Business trends2.2.1 Total Addressable Market (TAM)2.3 Regional trends2.4 Component trends2.5 Location positioning trends2.6 Application trends2.7 Industry vertical trendsChapter 3 Location Analytics market Insights3.1 Introduction3.2 Impact of COVID-19 outbreak3.2.1 North America3.2.2 Europe3.2.3 Asia Pacific3.2.4 Latin America3.2.5 Middle East & Africa3.3 Location analytics industry ecosystem analysis3.3.1 Platform providers3.3.2 Service providers3.3.3 Cloud service providers3.3.4 End-users3.3.5 Profit margin analysis3.3.6 Vendor matrix3.4 Technology & innovation landscape3.4.1 Real time data streaming3.4.2 Location intelligence based social media3.4.3 Autonomous mobility3.5 Regulatory landscape3.6 Patent analysis3.7 Investment portfolio3.8 Key initiatives and news3.9 Industry impact forces3.9.1 Growth drivers188.8.131.52 Rising use of spatial data and analytical tools184.108.40.206 Growing need of geographic predictive analytics220.127.116.11 Increasing use of location-based applications among consumers18.104.22.168 Growing uptake of location analytics technology in disaster management applications22.214.171.124 Integration of location-based mapping systems with business intelligence systems3.9.2 Industry pitfalls & challenges126.96.36.199 Lack of uniform regulatory norms188.8.131.52 High initial cost of deployment3.10 Growth potential analysis3.11 Porter's analysis3.11.1 Bargaining power of supplier3.11.2 Bargaining power of buyer3.11.3 Threat of new entrant3.11.4 Threat of substitution3.12 PESTEL analysis3.12.1 Political3.12.2 Economical3.12.3 Social3.12.4 Technological3.12.5 Legal3.12.6 Environment Browse our Reports Store - GMIPulse URL URL About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.