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Location Analytics Market Size

Report ID: GMI4663
Published Date: Dec 2022
Report Format: PDF

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Location Analytics Market Size

Location Analytics Market size exceeded USD 18 billion in 2022 and is projected to expand at more than 15% CAGR from 2023 to 2032.

Location analytics solutions and services are expected to see a surge in demand on the back of the growing need for geospatial information data and location-based services across enterprises. With the emerging impacts of climate change and other global warming issues, the need to monitor geographic changes is fueling the need for geospatial information. By fusing spatial data with conventional business intelligence data, location analytics allows firms to keep track of the present business situation. This improves the efficiency of the business to a higher level as they can predict shortcomings beforehand.

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The high initial investment costs of location analytics and GIS technology are hampering the industry growth. The software requires many different components to carry out tasks like information storage, modification, summarization, querying, and visualization, making it complicated to use. Companies need qualified, skilled, and trained employees to understand and use this software to its full potential. Finding such employees or training the existing ones is an expensive investment for companies. This high cost of deployment could restrict the business growth in the long run.

Location Analytics Market Report Attributes
Report Attribute	Details
Base Year:	2022
Location Analytics Market Size in 2022:	USD 18 billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	15%
2032 Value Projection:	USD 75 billion
Historical Data for:	2018 to 2022
No. of Pages:	330
Tables, Charts & Figures:	467
Segments covered:	Component, Location Positioning, Application, Industry Vertical
Growth Drivers:	Rising use of spatial data and analytical tools Growing need for geographic predictive analytics Increasing use of location-based applications among consumers Increasing uptake of location analytics technology in disaster management applications Integration of location-based mapping systems with business intelligence systems
Pitfalls & Challenges:	Lack of uniform regulatory norms High initial cost of deployment

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Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of location analytics crossed USD 18 billion in 2022 and is expected to observe more than 15% gains through 2032.

The reporting & visualization solution segment is predicted to record a CAGR of over 15% between 2023 and 2032 as it helps make improvements in marketing plans, and budget planning.

Europe location analytics market is poised to hold a share of over 20% by 2032 due to the widespread use of GPS systems for collecting location-based service data and the uptake of inexpensive sensors.

Key players operating in the industry include Microsoft Corporation, PlaceIQ, Inc., Purple WiFi, SAS Institute, TomTom B.V., TIBCO Software, Inc., and Zebra Technologies Corporation.