The growth of the global location analytics market is mainly driven by the proliferation of smartphones and the upsurge in the usage of GPS-enabled devices.
PORTLAND, OR, UNITED STATES, November 22, 2021 /EINPresswire.com/ — Global site analysis marketing is determined by a smartphone and increases the use of GPS devices. In addition to the most achievements as a retail area within the roads, measures, measurements and analysis and analysis. In addition, the market is extended by the market extension of the market closet on the market closet. Consent and confidential confidentiality, however, has some degree of a certain degree. Another hand, the eastern development is expected to deliver on the basis of the development opportunity on the basis of development opportunities.
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According to a recent report published by Allied Market Research, titled, “Location Analytics Industry By Component, Location Type, Deployment Mode, Application, Industry Vertical and Region: Opportunity Analysis and Industry Forecast, 2020-2027,” The global Location Analytics Industry size was valued at $10.29 billion in 2019, and is projected to reach $31.13 billion by 2027, registering a CAGR of 15.5% from 2020 to 2027.
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By location type, the global Location Analytics Industry share was dominated by the indoor segment in 2019 and is expected to maintain its dominance in the upcoming years, due to the extensive usage of smart devices and smartphones which are integrated with advanced location-based services. However, the outdoor segment is expected to witness the highest growth, due to the increasing adoption of location-based marketing/advertising by the organizations to target consumers at a person-level with offline or online messaging based on physical location.
The COVID-19 outbreak has low impact on the growth of the Location Analytics Industry, as the adoption of location intelligence or analytics is increased to understand the impact of COVID-19 on consumer behavior and the economy. On the other hand, healthcare systems are experiencing an unprecedented level of demand for location data, with numerous countries having to inspect medical facilities, including primary care clinics, hospitals, and retirement homes to analyze care capacity and vulnerability. For instance, in March 2020, to help public health agencies as well as other organizations to initiate their response, Esri launched ArcGIS Hub Coronavirus Response template with a complimentary six-month ArcGIS Online subscription for ArcGIS Hub. ArcGIS Hub is a framework used for building websites to analyze and visualize crises in the context of population and assets of community or organization.
Furthermore, businesses across the globe are planning to come back stronger; hence, location analytics software adoption would help them to map COVID-19 density zones to plan their business operations accordingly. For instance, in May 2020, Transerve Technologies, a provider of geospatial solutions launched a solution to map COVID-19 density zones using remote sensing and geospatial technologies.
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Key Findings Of The Study
• By component, in 2019 the software dominated the Location Analytics Industry size. However, the services segment is expected to exhibit significant growth during the forecast period.
• On the basis of location type, the indoor segment accounted for the highest revenue in 2019, however, the outdoor segment is expected to witness highest growth rate in the forecasted period.
• Depending on deployment mode, the on-premise generated the highest revenue in 2019. However, the cloud segment is expected to witness highest growth rate in the near future.
• On the basis of application, the remote monitoring segment accounted for the highest revenue in 2019, however, the asset management segment is expected to witness highest growth rate in the forecasted period.
• On the basis of industry vertical, the retail & consumer goods segment accounted for the highest revenue in 2019, however, the IT & telecom segment is expected to witness highest growth rate in the forecasted period.
• Region wise, the Location Analytics Industry was dominated by North America region. However, Asia-Pacific is expected to witness significant growth in the upcoming years.
Some of the key location analytics industry players profiled in the report include Alteryx, Esri, Google LLC, HERE Technologies, Hexagon, Microsoft Corporation, Oracle Corporation, Pitney Bowes, Sisense Inc., Syncsort, Trimble Inc. This study includes market trends, Location Analytics Industry analysis, and future estimations to determine the imminent investment pockets.
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