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Location Analytics Market size was valued at USD 13.9 billion in 2019 and is poised to grow from USD 16.09 billion in 2023 to USD 51.25 billion by 2031, growing at a CAGR of 15.6% in the forecast period (2024-2031).

The Location Analytics Market is highly competitive due to the numerous vendors offering analytics solutions to both domestic and international markets. The market appears to be moderately fragmented, with major vendors pursuing strategies such as mergers and acquisitions, strategic partnerships, and others to expand their reach and remain competitive in the market. 'Microsoft Corporation', 'IBM Corporation', 'Cisco Systems, Inc.', 'Oracle Corporation', 'SAP SE', 'SAS Institute, Inc.', 'Pitney Bowes Inc.', 'Galigeo SAS', 'Alteryx, Inc.', 'Trimble Inc.', 'ESRI Inc.', 'TIBCO Software Inc.', 'Hexagon AB', 'Caliper Corporation', 'Precisely, Inc.', 'TomTom International BV', 'PlaceIQ, Inc.', 'MapLarge, Inc.', 'Foursquare Labs, Inc.', 'CartoDB Inc'

Rising use of spatial data and analytical tools across multiple verticals

AI and machine learning (ML) technologies have grown in popularity in recent years. AI and ML-enabled location data is used to generate pattern recognition and position signatures from the data it receives. Furthermore, the technologies are employed to create high-definition (HD) maps and practical simulators to view data. To gain a competitive advantage, major corporations are proactively investing in AI and machine intelligence. For instance, in October 2021, Google LLC improved its Google maps SDKs for Android to improve user experience, such as supporting drivers in making deliveries and assisting stores in visually checking an order's delivery address.

North America is predicted to dominate the growth of the location analytics market share. The rising demand for position intelligence and geospatial analytics solutions in industries such as government, defense, retail, and others is fueling the expansion. For example, the United States Government cooperated with Google LLC, Meta Platforms, Inc. (Facebook), and other technology providers and health professionals to deploy analytics tools in March 2020. This has aided organizations in combating viral spread by exploiting location data acquired from individuals, including tracking people's social distancing behavior.

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Global Location Analytics Market

Product ID: SQMIG45D2076