Location Analytics Market to hit $35 BN by 2027, Says Global Market Insights Inc.
Asia Pacific location analytics market is predicted to account for USD 9 billion revenue by 2027 owing to the rising investments in the IT infrastructure and rapid industrialization across developing countries
SELBYVILLE, Del., Jan. 18, 2022 /PRNewswire/ -- The location analytics market is expected to surpass USD 35 billion by 2027, as reported in a research study by Global Market Insights Inc. The growing adoption of spatial data and analytical tools across verticals is driving the market growth.
The growing integration of location-based mapping systems with business intelligence system is driving the growth of the market. The enterprises are extensively using location-based mapping systems with business intelligence to improve the business productivity. Applications that combine both these technologies allow the companies to track employees, assets, and equipment and make strategic decisions. It offers several benefits such as monitor key business processes, manage organization performance, and improve analytical &d decision-making capabilities.
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The reporting & visualization solution is set to see significant growth till 2027 driven by increasing use of reporting & visualization solutions across various industries. This reporting & visualization solution is commonly used to represent complex data into simple virtual form. This graphical representation of data helps organizations to understand data, find out hidden patterns, and provide useful insights to make decisions.
The outdoor positioning segment held above 55% of the location analytics market share in 2020. Enterprises are extensively using location analytics solutions to monitor the business assets across outdoor environments. The outdoor location analytics systems are equipped with advanced business intelligence technology that offers in-depth business insights. The retail organizations are increasingly using outdoor location analytics solutions to identify the target customers on the basis of their shopping behavior, experiences and location.
The supply chain planning and optimization is expected to observe over 10% CAGR through 2027 due to growing adoption of geographic predictive analytics solutions. Location analytics solution helps business enterprises in investigating supply chain delays and discover the root causes. It offers several benefits such as 24/7 monitoring, improved visibility, inventory management, network mapping & plannin, and others. Location analytics solution optimizes the overall supply chain performance and provides improved customer experiences.
The healthcare sector is anticipated to grow exponentially over 2021 to 2027 on account of growing technological advancements across the healthcare sector. Healthcare organizations are extensively using location analytics for allocating the resources, provide accessible service to vulnerable patients, and others. It also enables healthcare organizations' patient dataset with census, council tax band, and others. For instance, in August 2021, FDB launched clinical decision support analytics solutions, FDB CDS Analytics. The solution has enabled the healthcare organizations to easily identify, monitor, and customize clinical support in their electronic health records.
Asia Pacific location analytics market is poised to generate revenue of about USD 9 billion by 2027. The rising investments in the IT infrastructure and rapid industrialization across developing countries including India, China, etc., are likely to support the market growth in the region. Furthermore, the companies operating the region are focusing on developing advanced location analytics solutions. For instance, in March 2021, Pinmicro introduced significant technology upgrades to the real-time location intelligence platform with centimeter level accuracy and advanced 3D location intelligence. It supports 3-dimensional data and can accurately locate any resources with centimeter level accuracy.
Companies operating in the market are developing strategic partnerships to develop advanced and integrated location analytics solutions & services. For instance, in August 2021, Wipro Ltd. partnered with HERE Technologies to provide location-based service for the customers globally. The companies have jointly developed solutions in the areas of asset tracking, logistics, supply chain, smart metering & analytics, and private mapping-as-service for indoor & outdoor real-time asset tracking.
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Some major findings of the location analytics market report include:
Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Location analytics industry 360º synopsis, 2017 – 2027
2.2 Business trends
2.3 Regional trends
2.4 Component trends
2.5 Location positioning trends
2.6 Application trends
2.7 Industry vertical trends
Chapter 3 Location Analytics Market Insights
3.2 Industry segmentation
3.3 Impact of COVID-19 outbreak
3.3.1 Global outlook
3.3.2 Regional outlook
3.3.3 Industry value chain
3.3.4 Competitive landscape
3.4 Location analytics industry ecosystem analysis
3.5 Technology & innovation landscape
3.6 Regulatory landscape
3.7 Industry impact forces
3.7.1 Growth drivers
220.127.116.11 Rising use of spatial data and analytical tools
18.104.22.168 Growing need of geographic predictive analytics
22.214.171.124 Increasing use of location-based applications among consumers
126.96.36.199 Growing uptake of location analytics technology in disaster management applications
188.8.131.52 Integration of location-based mapping systems with business intelligence systems
3.7.2 Industry pitfalls & challenges
184.108.40.206 Lack of uniform regulatory norms
220.127.116.11 High initial cost of deployment
3.8 Growth potential analysis
3.9 Porter's analysis
3.10 PESTEL analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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