The Asia Pacific location analytics market is also an important regional market. The regional growth is attributed to the improved market expansion and the huge smartphone using population.
The location analytics market is anticipated to thrive at a strong CAGR of 14.8% between 2023 and 2033. The market is anticipated to cross a market share of US$ 82.14 billion by 2033, while it is expected to be valued at US$ 20.66 billion in 2023.
The increased penetration of smartphone technology and location-based appliances are fueling the sales of location-based system solutions. Furthermore, services like real-time tracking, delivery, and regional forecast also gain traction in the market.
Government authorities for geospatial and geographical research are fueling the demand for location-based technologies. The integration of AI, machine learning, internet of things with location analytics is thriving the market growth.
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Authorities that deal with weather forecasting, climate change, and population density also flourish the growth of the location analytics market. These systems increase the scalability and agility of any business through segregated data representation.
Healthcare services also consume the market as it tracks the hospitals, patient number, and medical emergency through location tracking. These systems also support the productivity of corporate setups to clarify location-based statistics and empower the company with better decision-making power.
Key Points
Competitive Landscape
The key competitors focus on building systems with higher accuracy along with the elements like consumer information and number-based data. Key competitors also merge, acquire, and partner with other companies to increase the GPS enhancements, supply chain, and distribution channel. The key players in the market are ALTERYX, ESRI, GOOGLE LLC, HERE TECHNOLOGIES, HEXAGON, Microsoft Corporation, Oracle Corporation, PITNEY BOWES, SISENSE INC, SYNCSORT, IBM, and Quppa.
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Recent Market Developments
Key Segments
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Apr 13, 2023