Location Analytics Market Extrapolated to Reach $38.5 billion by 2028

(IT-NEWSWIRE.COM, September 04, 2023 ) According to a research report "Location Analytics Market by Offering (Solutions (By Type & By Deployment), and Services), Location Type (Indoor Location and Outdoor Location), Application, Vertical, and Region (North America, Europe, APAC, MEA, Latin America) - Global Forecast to 2028" published by MarketsandMarkets, the market for Location analytics is estimated to grow from USD 20.6 billion in 2023 to USD 38.5 billion by 2028, at a CAGR of 13.4% during the forecast period.

Location analytics is a global game-changer for businesses, utilizing geospatial data to provide insights for strategic decisions and operational excellence. It optimizes market expansion, customer engagement, and supply chain efficiency. With location-based insights, companies proactively manage risks and enhance urban planning. In healthcare, it refines patient care and disease tracking. For retailers, it drives personalized strategies, while emergency responders benefit from optimized disaster responses. Overall, location analytics empowers businesses globally, transforming data into actionable insights for informed decision-making and superior performance.

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Browse 353 market data Tables and 58 Figures spread through 350 Pages and in-depth TOC on "Location Analytics Market - Global Forecast to 2028"

Healthcare & Lifesciences to account for higher CAGR during the forecast period.

Location analytics is swiftly gaining ground in the healthcare and life sciences sector. By amalgamating geographic data with patient information, it offers insights crucial for optimized healthcare delivery, resource allocation, and disease tracking. From enhancing patient outcomes through personalized treatment plans to streamlining supply chain management for pharmaceuticals, the sector benefits immensely. Real-time geospatial analysis empowers efficient emergency response, epidemiological studies, and healthcare infrastructure planning. However, concerns over data privacy and interoperability challenges must be diligently addressed to fully harness the potential of location analytics, ensuring it becomes an indispensable tool for evidence-based decision-making across the healthcare and life sciences landscape.

Services Segment to account for higher CAGR during the forecast period.

The market for location analytics is bifurcated based on offering solutions and services. The CAGR of services is estimated to be highest during the forecast period. Professional and managed services have a significant impact on the location analytics market by offering a range of valuable services to businesses. Further, the professional services are bifurcated into consulting, training, support and maintenance, and deployment and integration. As business recognition of location analytics' value grows, consulting services experience heightened demand, pivotal in optimizing location analytics solutions.

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Asia Pacific to exhibit the highest CAGR during the forecast period.

The CAGR of Asia Pacific is estimated to be highest during the forecast period. Location analytics is rapidly growing in the Asia Pacific, which includes China, India, Japan, South Korea, ASEAN, and ANZ (Australia and New Zealand). Location analytics is experiencing a remarkable surge in the Asia Pacific region. With its diverse geography and rapidly evolving technological landscape, this region is embracing location-based insights to drive innovation and informed decision-making. Organizations across sectors are recognizing the strategic advantage of harnessing geospatial data to gain deeper insights into consumer behaviors, optimize supply chains, and enhance operational efficiency. The region's dynamic business environment, coupled with the proliferation of mobile devices and IoT technologies, fuels the growth of location-based services. Governments and enterprises are investing in infrastructure to support the collection and analysis of geospatial data, fostering a vibrant ecosystem for location analytics startups and established players alike.

Major vendors in the global location analytics market are IBM (US), Google (US), Oracle (US), Microsoft (US), Esri (US), SAS (US), Precisely (US), SAP (Germany), Cisco (US), TomTom (Netherlands), Hexagon (Sweden), Zebra Technologies (US), Alteryx (US), HERE (US), Purple (UK), Galigeo (France), GeoMoby (Australia), Quuppa (Finland), CleverMaps (Czech Republic), IndoorAtlas (Finland), Lepton Software (India), CARTO (US), TIBCO (US), Sparkgeo (Canada), Ascent Cloud (US), Foursquare (US), MapLarge (US), SedimentIQ (US), Ariadne Maps (Germany), Locale.ai (India), Geoblink (Spain), Nrby (US), Mapidea (Portugal), GapMaps (Australia), and LocationsCloud (US).

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Location Analytics Market Extrapolated to Reach $38.5 billion by 2028