The global market for Location Intelligence & Location Analytics is estimated to grow from $10.6 billion in 2021 to $17.6 billion by 2027 at a robust CAGR of 11.4% during the forecast period 2022-2027.
Location intelligence and location analytics is the combination of geospatial data (geoanalytics) and business intelligence is combined with cartographic tools for better understanding of the location-based relationships and geographical information system context that lie within data. The term “Location” indicates the tagging and storing raw data with their specific location (also include the time dimension in some instances).
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Key Takeaways
•North America dominated the Location Intelligence & Location Analytics Market owing to high adoption of cloud technologies in industries combined with stringent regulations in 2021.
•The Location Analytics market is a consolidated market dominated by a few players accounting for major market share due to large customer base and wide distribution network. These players command significant margins for their products.
•Location Analytics typically represent a rising rate of adoption and there appears to be desire for customers to integrate Location Analytics in business intelligence technology.
Location Intelligence & Location Analytics Market Segment Analysis- By Industry
By industry, transportation & logistics segment held the major revenue share around 32% in 2021 followed by the manufacturing and retail segment with 14% revenue share each. This technology shows an impact on military applications to identify the exact location of troops and enemy movements on a map which allows for enriched decisions and presents tactical advantages. Location intelligence and location analytics is showing a great impact on Chain Retail businesses to rise their sales and increase customer detention through past spending habits of people from various geographical locations.
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