LONDON--(BUSINESS WIRE)--The global location analytics tools market is expected to post a CAGR of over 16% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Increasing use of location analytics in geo-targeted promotions is one of the key drivers anticipated to boost the market growth in the forthcoming years. Location-based promotions enable enterprises to display specific advertisements or specific information in a particular vicinity. This helps the companies to garner customer attention and target specific audiences to influence impulse purchases. Enterprises are also using location analytics tools to track customers’ location and analyze their purchase patterns. These data insights enable them to develop targeted sales promotion campaigns and predict workloads for the retailers. Thus, the numerous benefits of geo-targeted promotions will drive enterprises to deploy location analytics tools, leading to the growth of the market during the forecast period.
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As per Technavio, the growing use of location analytics tools, will have a positive impact on the market and contribute to its growth significantly over the forecast period. The location analytics tools market research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Location Analytics Tools Market: Growing Popularity of Location-based Gaming
With the launch of smartphones integrated with positioning technologies, location-based gaming has evolved considerably in recent years. Location analytics is increasingly being used to develop games based on the physical world with real-world locations. Game developers are using location analytics tools to track and analyze the movements of players while developing these games. Thus, the rising popularity of various location-based games is expected to foster the adoption of location analytics which, in turn, will drive the market growth during the forecast period.
“Development of AI-based location analytics and rise in IoT deployments are some other key factors that will contribute to the growth of the location analytics tools market size during the forecast period,” says a senior analyst at Technavio.
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Global Location Analytics Tools Market: Segmentation Analysis
This market research report segments the global location analytics tools market by end-user (transportation, retail, BFSI, media and entertainment, telecommunications, and other end-users), and geographical regions (North America, Europe, APAC, MEA, and South America).
The North American region led the market in 2018, followed by Europe, APAC, MEA, and South America respectively. During the forecast period, the North American region is expected to maintain its dominance over the global market due to the rising adoption of location analytics by enterprises and the presence of major vendors in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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