Location Analytics Market To Grow At A CAGR Of 15.4% During The Forecast Period Of 2023-2028

SHERIDAN, WYOMING, UNITED STATES, January 4, 2023 /EINPresswire.com/ -- The new report by Expert Market Research titled, ‘Global Location Analytics Market Size, Share, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global location analytics market, assessing the market based on its segments like components, deployment types, locations, services, applications, and major regions.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

The key highlights of the report include:

Market Overview (2018-2028)

Forecast CAGR (2023-2028): 15.4%

The increasing adoption of cloud-based location analytics software by medium and large enterprises, aimed towards increasing business profitability, is driving the market growth. Over the forecast period, the anticipated increase in application of location analytics in the BFSI sector is likely to bolster the risk management, prevent frauds, and spearhead the sales and marketing, is likely to augment the market growth.

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Moreover, the rapid industrialisation and commercialisation across the emerging economies are anticipated to propel the need for optimisation of assets. In terms of region, North America accounts for a significant share of the market owing to the technologically advanced digital infrastructure in countries like the United States of America.

Location Analytics Industry Definition and Major Segments

Location analytics, also known as geoanalytics, is defined as the process of adding geographical data to the data assets of a business in order to provide valuable insights. In this system, the maps are positioned uniquely which offer insights on events, transactions, assets, and even on people. It is an integral part many businesses.

On the basis of component, the market can be segmented into:

Solution

Geocoding and Reverse Geocoding
Data Integration and ETL
Reporting and Visualisation
Thematic Mapping and Spatial Analysis
Others

Services

Consulting
Integration and Deployment
Support and Maintenance

Based on deployment type, the market has been segmented into:

On-Premise
On-Demand

By location, the market has been divided into:

Indoor
Outdoor

On the basis of services, the market has been segmented into:

Risk Management
Emergency Response Management
Customer Experience Management
Remote Monitoring
Supply Chain Planning and Optimisation
Sales and Marketing Optimisation
Others

The significant applications included in the market are as follows:

Retail
Banking, Financial Services and Insurance
Government and Defense
Media and Entertainment
Transportation and Logistics
Energy and Utilities
Others

The regional markets for location analytics include:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Read Full Report with Table of Contents@ https://www.expertmarketresearch.com/reports/location-analytics-market

Location Analytics Market Trends

The key trends in the location analytics market include the increasing adoption of smartphones, laptops, and tablets by the working-class population, which is bolstering the operational efficiency of location analytics. The increasing integration of artificial intelligence in location analytics is further penetrating location analytics in organisations.

The technological advancements in transport and logistics and retail industry are propelling the demand for cloud-based location analytics software. Furthermore, another crucial trend in the market includes the thriving e-commerce industry, which heavily depends on the location analytics for greater customer satisfaction, improved feedback, and accuracy of delivery.

Key Market Players

The major players in the market are SAS Institute Inc., Oracle Corporation, Microsoft Corporation, IBM Corporation, Cisco Systems Inc., Environmental Systems Research Institute Inc., Pitney Bowes Inc., Galigeo SAS, and Alteryx, Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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