According to the report, the global location analytics industry was estimated at $10.29 billion in 2019, and is anticipated to hit $31.13 billion by 2027, registering a CAGR of 15.5% from 2020 to 2027.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/9814
Proliferation of smartphones and upsurge in usage of GPS-enabled devices, growing usage of spatial data and analytical tools, increasing adoption of location analytics for asset management across various industries, and rise in adoption of location analytics in retail sector drive the global location analytics market. On the other hand, consent and privacy concerns restrain the growth to some extent. Nevertheless, emergence of advanced technologies in the field of GIS, and integration of AI with location analytics are expected to create multiple opportunities in the industry.
Based on industry vertical, the transport and logistics segment accounted for nearly one-fifth of the global location analytics market revenue in 2019, and is anticipated to lead the trail by 2027. The advent of digitalization fuels the need for location analytics in the transport & logistic industry, owing to its ability to offer customized marketing strategy solutions. Simultaneously, the healthcare segment would garner the fastest CAGR of 22.4% from 2020 to 2027. This is attributed to rise in need to use maps and demographic data to identify vulnerable populations and disease surveillance with consistent, accurate, and latest data to enable informed decisions that may lead to improved site performance and outcomes.
Based on geography, North America held the major share in 2019, generating around two-fifths of the global location analytics market. This is due to continuous technological advancements in location-based services field and enhanced financial support for technology development from the government in this province. At the same time, the same Asia-Pacific region would also showcase the fastest CAGR of 18.8% during the forecast period. This is owing to the factors such as the growth in number of industries, such as manufacturing, construction, real estate, tourism, and others; increase in adoption of smartphones and location-enhanced marketing; and integration of location-based search with social networking websites.
For Purchase Inquiry: https://www.alliedmarketresearch.com/purchase-enquiry/9814
Based on component, the software segment contributed to more than three-fifths of the global location analytics market share in 2019, and is projected to rule the roost by the end of 2027. The growing need across the businesses to see trends on maps and graphics to optimize certain business opportunities drive the growth of the segment. On the other hand, the services segment would manifest the fastest CAGR of 16.8% throughout the forecast period. This is due to an extensive adoption of services among end users, as it ensures effective functioning of location analytics software throughout the process.
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies. This helps us dig out market data that helps us generate accurate research data tables and confirm utmost accuracy in our market forecasting. Every data company in the domain is concerned. Our secondary data procurement methodology includes deep presented in the reports published by us is extracted through primary interviews with top officials from leading online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll-Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on: LinkedIn TwitterFacebookTwitterLinkedInEmailShare