Select Language
The latest report by IMARC Group, titled “Location Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global location analytics market size reached US$ 16.12 Billion in 2021. Location analytics, also known as geo-analytics, is the method of generating insights by analyzing location data. It adds geographical data on assets, infrastructure, transportation, and the environment of an organization to extract valuable insights and predict consumer behavior and buying patterns. It is widely used by organizations to assess their business strategies, decrease costs, locate new sales opportunities, and implement changes for operational efficiency. Compared to traditional business intelligence (BI) data, location analytics drives more accurate insights and is relatively easy to understand for non-experts.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.??
Global Location Analytics Market Trends:
The market is primarily driven by the increasing utilization of the Internet of Things (IoT) and rapid digitization across the globe. In addition, the developing infrastructure, and the rising sales of consumer electronics such as smartphones, tablets, and laptops, represent another major growth-inducing factor. Besides this, various organizations are adopting asset management tools to optimize business processes, test the profitability of potential new locations, and generate revenue. This, coupled with the widespread adoption of location analytics in the corporate, government, and retail sectors to offer enhanced solutions and services to end users, is positively influencing the market growth. Moreover, key market players are making considerable investments in research and development (R&D) activities to develop new technologies that detect patterns, opportunities, and risks of businesses. They are also integrating advanced technologies such as cloud computing, artificial intelligence (AI), blockchain, and big data with location analytics to enhance operational efficiency, thereby contributing to the market growth. Furthermore, the rising trend of automation across various industries and the emerging e-commerce industry are also expected to create a favorable market outlook in the coming years. Looking forward, IMARC Group expects the market value to reach US$ 45.77 Billion by 2027, expanding at a CAGR of 18.20% during the forecast period (2022-2027).
Market Summary:
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Contact Us
IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter : @imarcglobal
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91-120-433-0800 )
Drop us an email at
sales@imarcgroup.com