Surge in penetration of smartphones, an upsurge in the usage of GPS-enabled devices, increased use of spatial data and analytical tools, rise in adoption of networks, and the COVID-19 pandemic which increased the use of location-based services drive the growth of the global network & location analytics market.
However, consent and privacy concerns hamper the global market growth. On the other hand, the emergence of advanced technologies in the field of GIS, and the integration of AI with location analytics is anticipated to present new growth opportunities for the global market in the coming years.
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Based on component, the solution segment was the largest market in 2021, contributing to two-thirds of the global network & location analytics market share, and is expected to maintain its leadership status during the forecast period. This is attributed to the surge in adoption of network and location analytics in the organization to provide personalized and integrated products and services to customers.
On the other hand, the services segment is projected to witness the fastest CAGR of 18.7% from 2022 to 2031, owing to the emerging trend among intelligence (BI) and analytics software vendors to integrate mapping and spatial data analysis into their products to provide additional context to reports, visualizations, and analysis.
Based on deployment model, the on premise segment held the largest market share of three-fifths of global network & location analytics market in 2021, and is expected to maintain its dominance during the forecast period. This is because it witnessed rapid adoption in enterprises and government bodies, which are facing strict data security, compliance, and regulatory requirements.
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On the other hand, the cloud segment is projected to witness the largest CAGR of 18.3% from 2022 to 2031, due to the rise in preference for cloud-based network location analytics in industry verticals such as retail & wholesale, technology, and education.
Based on enterprise size, the large enterprise’s segment held the largest market share of nearly two-thirds of the global network & location analytics market in 2021, and is expected to maintain its dominance during the forecast period. This is because of the surge in the adoption of network and location analytics solutions by large enterprises to provide better navigation and tracking ability to track people and objects indoors and outdoors.
On the other hand, the small and medium-sized enterprises (SMEs) segment is projected to witness the largest CAGR of 18.3% from 2022 to 2031, as network and location analytics solutions help in decision-making and provide competitive advantage to SMEs.
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Based on region, North America was the largest market in 2021, capturing two-fifths of the global network & location analytics market share. The increase in location-based services applications in defense and transportation sectors drive the growth of the market in the region.
However, the Asia-Pacific market is expected to achieve the highest revenue and manifest the fastest CAGR of 19.7% during the forecast period. Asia-Pacific countries are expected to adopt network and location analytics solutions at a high rate as the remote sensing industry in this region has numerous growth opportunities, owing to various geographical needs.
The key players profiled in the network and location analytics market analysis are Google LLC., Microsoft Corporation, IBM, Cisco Systems, Inc., Oracle, SAP SE, Hexagon, ALTERYX, INC., ESRI, SAS Institute Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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