According to the recent study the location analytics market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 13% to 15% from 2023 to 2028. Growth in this market is primarily driven by growing adoption of artificial intelligence (AI) & machine learning (ML) based location analytics solutions and growing need for location analytics across industries so that people can keep track of local information to use it in making business decisions.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in location analytics market by component (solutions, services, and managed services), deployment mode (cloud and on-premises), organization size (large enterprises and small and medium-sized enterprises), location type (outdoor location and indoor location), application (risk management, emergency response management, customer experience management, remote monitoring, supply chain planning and optimization, sales and marketing optimization, location selection and optimization and others), end use industry (retail, manufacturing, government & defence, media and entertainment, transportation and logistics, energy and utilities, telecom and IT, healthcare, tourism and hospitality, banking and financial services, insurance, education, and real estate), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Outdoor location market is expected to remain the largest segment during the forecast period.”
Based on location type, the location analytics market is segmented into outdoor location and indoor location. Lucintel forecasts that the outdoor location market is expected to remain the largest segment due to the growing use of outdoor analytics systems by the industries to monitor their immovable assets and rising number of outdoor applications for geospatial and positioning solutions.
“Within the location analytics market, the large enterprises segment is expected to remain the largest organization size”
Based on organization size the large enterprises segment is expected to witness the highest growth over the forecast period due to the increasing demand for location data among businesses seeking to better monitoring and routing of people and goods and growing demand for the wireless devices and location sensors among the large enterprises.
“North America will dominate the location analytics market in near future”
North America will remain the largest region due to the government collaboration with the key technology players and increasing use of location analytics to collect location data in order to prevent virus spread & maintain social distance among citizens in the region.
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Major players of location analytics market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. IBM, Google, Oracle, Microsoft, and Esri are among the major location analytics providers.
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