Location Analytics Tools Market to grow by USD 11.84 billion from 2021 to 2026, Market driven by the rise in awareness of location-enabled services- Technavio
NEW YORK, Sept. 15, 2023 /PRNewswire/ -- The location analytics tools market by end-user (Transportation, Retail, BFSI, Media and entertainment, and Others) and geography (North America, Europe, APAC, Middle East and Africa, and South America) - Forecast and Analysis 2022-2026" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the location analytics tools market between 2021 and 2026 is USD 11.84 billion. The rise in awareness of location-enabled services is notably driving the market growth. With the increase in internet and smartphone penetration, enterprises in service-oriented industries such as retail, healthcare, telecommunications, and BFSI are expanding at a steady pace in terms of their addressable market. The integration of data strategy with data analytics delivers businesses with data insights, which can be used to create business strategies, create new and innovative product offerings, optimize customer experiences, and develop risk mitigation plans. For example, to analyze the location of a property and quote accurate insurance prices for the property, insurance companies use location analytics. Such kind of analysis resulted in an enhanced customer ordering process and increased revenues. These factors are anticipated to fuel the growth rate of the market during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy full report here
The stringent government regulations for collecting location-based data are a significant challenge hindering market growth.
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The location analytics tools market has been segmented by end-user (Transportation, Retail, BFSI, Media and entertainment, and Others) and geography (North America, Europe, APAC, Middle East and Africa, and South America).
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Key Companies in the Location Analytics Tools Market:
Alteryx Inc., CARTO, Cisco Systems Inc., CleverMaps AS, Cuebiq Inc., Environmental Systems Research Institute Inc., Factual Inc, Galigeo SAS, GeoMoby, GeoSpock Ltd., Gimbal Inc., Gravy Analytics Inc., International Business Machines Corp., IndoorAtlas Ltd., InMarket Media LLC, Kinetica DB Inc., Oracle Corp., Pitney Bowes Inc., Salesforce.com Inc., and SAS Institute Inc.
The location-based services (LBS) market size is estimated to grow at a CAGR of 26.22% between 2022 and 2027. The market size is forecast to increase by USD 167.69 billion. This report extensively covers market segmentation by component (hardware, software, and services), type (outdoor and indoor), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The rise in demand for personal and enterprise navigation services is driving market growth.
The real-time location systems (RTLS) market size is estimated to grow at a CAGR of 28% between 2022 and 2027. The market size is forecast to increase by USD 13,837.23 million. This report extensively covers market segmentation by application (healthcare, transportation and logistics, retail, government, and others), solution (systems and tags), and geography (North America, Europe, APAC, South America, and the Middle East and Africa). The growing use of RTLS tags in the healthcare sector is driving market growth.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-user
Market Segmentation by Geography
Drivers, Challenges, & Trends
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