The Latest Location Analytics Industry Statistics Explained
Location intelligence market size is expected to reach USD 25.25 billion by 2025.
The mentioned statistic indicates the projected market size for location intelligence by the year 2025, with an estimated value of USD 25.25 billion. Location intelligence refers to the utilization of geographical and spatial data to derive insights and make informed decisions. The expected growth in the market size suggests an increasing adoption of location intelligence solutions across various industries such as retail, transportation, and marketing, driven by the need for enhanced business efficiency, targeted marketing strategies, and improved customer experiences. This statistic signifies the growing importance of leveraging location-based data and analytics to gain a competitive edge in today’s data-driven business landscape.
Over the forecast period 2020-2025, Location Analytics market is expected to register a CAGR of 17.1%.
The statement indicates that the Location Analytics market is projected to grow at a Compound Annual Growth Rate (CAGR) of 17.1% from 2020 to 2025. This implies that the market is anticipated to expand steadily at an average annual rate of 17.1% over the specified period. The CAGR is a useful metric for measuring the annual growth rate of an investment or market segment over multiple years, providing a smooth representation of growth trends by accounting for the compounding effect. Therefore, this statistic suggests a positive outlook for the growth and development of the Location Analytics market in the upcoming years.
The retail industry accounted for the largest market share of more than 20% in 2019.
The statistic stating that the retail industry accounted for the largest market share of more than 20% in 2019 indicates that within the economy, the retail sector held the highest percentage of the overall market compared to other industries. This suggests that retail businesses collectively had the most significant impact on market activities and generated the highest revenue among all sectors. The statistic signifies the importance and dominance of the retail industry in the market landscape in 2019, highlighting its substantial influence on consumer spending, economic growth, and overall market performance during that year.
Nearly 50% of businesses are using location analytics to support their business activities.
The statistic suggests that a significant proportion of businesses, close to half, are utilizing location analytics to enhance their business operations. This indicates a growing trend towards incorporating geospatial data and spatial analysis tools in decision-making processes across various industry sectors. Location analytics enables businesses to gain valuable insights into customer behavior, market trends, and operational efficiency by harnessing geographic information. By leveraging this technology, organizations can make more informed decisions, optimize resource allocation, and improve overall business performance. The high adoption rate of location analytics signifies its importance in modern business strategies and the increasing recognition of its potential benefits for driving growth and innovation.
North America location analytics market valued at over USD 600 million in 2019 and is estimated to grow at a CAGR of over 15% between 2020 and 2026.
The statistic indicates that the North America location analytics market was worth more than USD 600 million in 2019 and is expected to experience substantial growth with a compounded annual growth rate (CAGR) exceeding 15% from 2020 to 2026. This suggests a strong and steady increase in market value over the forecast period, driven by factors such as advancements in technology, increasing adoption of location-based services, and a growing demand for location analytics solutions across various industries. The projected growth rate signifies a promising outlook for the North America location analytics market, indicating opportunities for businesses operating in this sector to capitalize on the evolving landscape and meet the rising needs of customers for location intelligence solutions.
The Asia Pacific region would showcase a CAGR of 17.6% during 2020-2027.
The statement indicates that the Asia Pacific region is expected to experience a Compound Annual Growth Rate (CAGR) of 17.6% between the years 2020 and 2027. This statistic suggests strong and sustained growth over the specified time period. A CAGR of 17.6% implies that, on average, the market size or economic indicators in the Asia Pacific region are projected to increase by 17.6% annually over the seven-year period. This growth rate is significant and indicates a favorable economic outlook for the region, potentially driven by factors such as increasing investments, technological advancements, demographic trends, and overall economic development in the Asia Pacific countries.
The healthcare sector is projected to witness over 25% growth rate till 2026 due to the increasing adoption of location analytics.
The statistic indicates that the healthcare sector is expected to experience significant growth, with a projected growth rate exceeding 25% until 2026. This growth is attributed to the rising adoption of location analytics within the industry. Location analytics involves analyzing and interpreting data based on geographic locations, enabling healthcare organizations to optimize operations, enhance patient care, and make informed strategic decisions. By leveraging location analytics technology, healthcare providers can improve resource allocation, identify trends, and enhance patient outcomes. The projected growth rate highlights the potential for innovation and transformation within the healthcare sector as it embraces data-driven solutions to drive efficiency and quality of care.
The data generated by mobile and internet users worldwide will grow to 163 zettabytes by 2025, which also increases the application of location analytics.
The statistic that the data generated by mobile and internet users worldwide is projected to reach 163 zettabytes by 2025 indicates the exponential growth in digital information being produced by individuals on various connected devices. This enormous volume of data presents both challenges and opportunities, particularly in the realm of location analytics. With the increasing sophistication of data collection technologies and the prevalence of geospatial information in online activities, the application of location analytics is expected to surge in order to extract valuable insights from this vast pool of data. Businesses, organizations, and governments can leverage location analytics techniques to better understand customer behavior, optimize operations, and make informed decisions based on the geographical context provided by the massive amounts of data being generated globally.
The use of artificial intelligence in location analytics is expected to witness a CAGR of 16.5% during 2020 to 2027.
This statistic indicates the projected Compound Annual Growth Rate (CAGR) of the utilization of artificial intelligence in location analytics from 2020 to 2027. A CAGR of 16.5% suggests a steady and significant growth trend in the adoption and integration of artificial intelligence technologies within location analytics applications, such as geo-targeted advertising, traffic optimization, and spatial data analysis. This growth rate reflects the increasing recognition of the value and benefits that AI can offer in enhancing the accuracy, efficiency, and insights derived from location-based data, driving innovation and advancements in the field over the specified period.
As of 2019, over 80% of enterprises agree that location data is key to their company’s revenue growth.
The statistic “As of 2019, over 80% of enterprises agree that location data is key to their company’s revenue growth” suggests that a significant majority of businesses recognize the importance of utilizing location data in order to drive their financial success. This statistic implies that a large proportion of companies acknowledge the valuable role that location data plays in informing strategic decision-making, enhancing customer insights, enabling targeted marketing efforts, and optimizing operational efficiency. By emphasizing the significance of location data in driving revenue growth, this statistic underscores the growing recognition among enterprises of the valuable insights that can be derived from understanding and leveraging geographical information to positively impact business outcomes.
More than 68% of large corporations use location analytics for customer analysis and segmentation.
The statistic that more than 68% of large corporations use location analytics for customer analysis and segmentation indicates a significant trend in the business world towards leveraging geographical data to understand and target customers. Location analytics involves the use of geographic information systems (GIS) and other tools to analyze customer behavior, demographics, and preferences based on their physical locations. By incorporating location data into their analysis, large corporations can gain valuable insights into where their customers are located, how they interact with their products or services in different regions, and how to tailor their marketing strategies to specific geographical segments. This statistic highlights the increasing importance of location intelligence in driving business decisions and enhancing customer engagement for large organizations.
Over 96% of marketers believe location analytics will be more important in future.
The statistic that over 96% of marketers believe location analytics will be more important in the future indicates a strong consensus within the marketing industry regarding the significance of location data for decision-making and strategy development. This high level of agreement suggests that marketers perceive location analytics as a critical tool for understanding consumer behavior, improving targeting strategies, and enhancing overall marketing effectiveness. The widespread belief in the future importance of location analytics highlights a growing recognition of the value that geospatial insights can provide in optimizing marketing campaigns and driving business growth in an increasingly data-driven and customer-centric landscape.
In 2023, it’s predicted that location-targeted mobile ad spend will reach $38.7 billion in the US.
The statistic suggests that in the year 2023, an estimated $38.7 billion will be spent on mobile advertisements in the United States, specifically targeting users based on their geographic location. This prediction reflects the growing importance and popularity of location-based advertising strategies among marketers. By leveraging mobile technology to reach consumers based on their real-time location data, advertisers can deliver more personalized and relevant content to their target audience. The increasing investment in location-targeted mobile ads highlights the industry’s confidence in the effectiveness and potential return on investment of this marketing approach as more and more consumers engage with content on their mobile devices.
In the year 2018, the location analytics market was valued at USD 8.35 billion.
The statistic states that in the year 2018, the location analytics market had a total value of USD 8.35 billion. This figure represents the total revenue generated by companies offering location analytics services during that year. Location analytics involves the analysis and interpretation of geographical data to derive insights and make informed business decisions. The market size indicates the significant demand for location-based insights and solutions across various industries such as retail, transportation, and real estate. The value of USD 8.35 billion reflects the scale of investment and adoption of location analytics technologies by businesses seeking to leverage spatial data for strategic decision-making and operational efficiencies.
The Geocoding segment in the location analytics market is projected to grow at a CAGR of 14.2% during the period of 2021-2025.
The statistic states that the Geocoding segment within the location analytics market is expected to experience a Compound Annual Growth Rate (CAGR) of 14.2% between the years 2021 and 2025. This means that the demand for geocoding services, which involve converting physical addresses into geographic coordinates, is anticipated to steadily increase over the specified period. The projected growth suggests a rising trend in the adoption of location-based analytics solutions by businesses and organizations, possibly driven by the need for better spatial data analysis, improved decision-making processes, and enhanced customer targeting strategies. Overall, the forecasted CAGR highlights a promising outlook for the Geocoding segment within the location analytics market over the next few years.
The real estate industry’s use of spatial data and location analytics tools will reach $4.6 billion globally by 2026.
The statistic indicates that the real estate industry’s investment in spatial data and location analytics tools is expected to grow significantly and reach $4.6 billion worldwide by the year 2026. This signifies a growing recognition among real estate professionals of the value and importance of leveraging spatial data and location analytics for various aspects of their business operations. These tools provide insights into market trends, property values, demographic patterns, and other crucial information that can help real estate companies make more informed decisions, optimize their operations, and enhance their competitive advantage in the market. The projected growth in this sector indicates a shift towards a more data-driven approach in the real estate industry, highlighting the increasing adoption of technology to drive efficiency and profitability.
In 2024, more than 75% of global organizations are expected to be investing in geospatial and location intelligence capabilities to build competitive advantages.
The statistic suggests that a significant shift is anticipated in the business strategies of global organizations by the year 2024, with over 75% of them planning to prioritize investments in geospatial and location intelligence technologies. This trend reflects a growing recognition among businesses of the importance of utilizing geospatial data to gain competitive advantages in the market. By leveraging location-based insights, organizations can make more informed decisions regarding marketing, operations, supply chain management, risk assessment, and other key aspects of their business. As such, the increasing adoption of geospatial and location intelligence capabilities indicates a strategic shift towards data-driven decision-making and innovation to drive business success in a rapidly evolving global landscape.
Over 60% of marketers use location data to target customer.
The statistic that over 60% of marketers use location data to target customers indicates a prevalent and growing trend in the marketing industry. Marketers are leveraging location data to better understand their customers’ behaviors, preferences, and movements in order to deliver more targeted and personalized marketing campaigns. By utilizing location data, marketers can tailor their messaging and offers based on a customer’s geographical location, enabling them to reach the right audience at the right time with the right message. This statistic underscores the importance of data-driven marketing strategies and highlights the value of location data in improving marketing effectiveness and driving higher ROI for businesses.
Conclusion
The location analytics industry is thriving and poised for continued growth as businesses across various sectors recognize the value of utilizing location-based data for strategic decision-making. The statistics presented underscore the increasing demand for location analytics solutions and the significant impact they have on improving operational efficiency, customer experiences, and overall business performance. As the industry evolves and technology advances, organizations that leverage location analytics stand to gain a competitive edge and drive innovation in the way they collect, analyze, and utilize spatial data.
References
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