Location Analytics Market Analysis

Location Analytics Market Analysis

Location analytics market from the reporting & visualization solution segment is poised to record nearly 15% growth rate between 2023 and 2032. The need for reporting and visualization solutions is driven by the rising demand for customized geospatial reports for specific business decision-making. This approach is used to view and report business data and geographic components which helps in making improvements in future forecasts, marketing plans, and budget planning.
 

The remote monitoring application segment is predicted to observe over 10% gains through 2032. The demand for location analytics solutions and services for remote monitoring is on a rise because of the need to monitor geographically scattered business locations and facilities. Utilizing location analytics allows businesses to protect their workspace in real-time from potential hazards.
 

The transportation & logistics segment accounted for 25% of the location analytics market share in 2022 due to the growing importance of remote monitoring of transport workflows, there is a considerable increase in the demand for these solutions across the sector. Businesses can utilize location analytics to visualize their routes, examine various factors, and decide in real time how to use their fleets of vehicles more efficiently. In case of emergencies, these systems are also helpful for finding a missing truck from the fleet, analyzing any damages, etc.
 

Europe location analytics market is predicted to hold more than 20% of the revenue share by 2032 owing to the widespread use of GPS systems for collecting location-based data and the uptake of inexpensive sensors. The adoption of these solutions across several sectors like transport, logistics, communication, delivery systems, etc. is influencing the business expansion. To offer sustainable services, logistics service providers in the region are introducing new business models and strategies.