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North America Location Analytics Market to Witness Huge Growth $8 Bn by 2026

Author : Ronak Bora | Published Date : 2021-09-06 

Owing to these factors, the North America location analytics market size is anticipated to exceed a valuation of USD 8 billion by 2026. The North American location analytics market size is set to register substantial growth through the coming years owing to the rapid evolution of numerous interrelated technologies, comprising GPS/GNSS systems, cameras, and scanners, which escalates the requirement for their effective maintenance and integration.

The North America location analytics market growth is further impelled with rising awareness regarding the benefits of location analytics software across numerous industries comprising retail & BFSI. The demand for remote monitoring applications across various sectors is propelled by the surging IoT demand at the global level.

Location analytics technologies are responsible for the remote monitoring of numerous parameters, such as humidity and temperature, at various locations via the deployment of IoT devices.

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Some key trends influencing North America location analytics industry outlook are as follows:

Surging demand for outdoor positioning

The outdoor positioning segment in the North America location analytics market is projected to account for a dominating share of over 60% through the analysis period. Companies that operate across extensive geographies make use of location analytics software and solutions for mapping business assets across the outdoor environment.

These solutions also offer in-depth insights by means of outdoor location intelligence. Enterprises can then formulate their business plans for outdoor spaces with the assistance of advanced location awareness and analytics capabilities.

Increasing deployment of thematic mapping & spatial analysis in Canada

In Canada location analytics industry, the thematic mapping & spatial analysis segment is expected to hold remarkable revenue through 2026 driven by the surging usage of thematic mapping in business intelligence applications.

Thematic maps and spatial analytics offer visual context and help companies in discovering new actionable intelligence by deploying maps as a common language. Citing an instance, in November 2020, the NB DTI (New Brunswick Department of Transportation and Infrastructure) secured an award for the innovative usage of GIS & location analytics for long-term planning of replacing aging culverts and for reporting road deficiencies.

Rising usage of location analytics across the healthcare industry

The healthcare segment in the North America location analytics market is estimated to grow at a CAGR of 13% through 2026. The past couple of years have witnessed a drastically increased demand for location analytics solutions across the healthcare industry.

With the present SARS-CoV-2 pandemic, the usage of geospatial data has enhanced in an exponential manner. Numerous companies are offering advanced location analytics tools and platforms to private and public healthcare agencies.

To cite an instance, ESRI rolled out a COVID-19-based dashboard with geographically-based statistical data. The dashboard offers real-time location-based information for the purpose of monitoring and analyzing COVID-19 cases in the region.

Escalating strategic initiatives by leading players in the market

Some of the leading players in the North America location analytics market are Google LLC, Oracle Corporation, ESRI, IBM Corporation, SAP SE, and others. These location analytics companies are getting involved in the implementation of strategic initiatives for helping individuals around the region.

Considering an instance, in May 2020, location analytics firm, RetailNext Inc., developed an Aurora sensor, that offers data analysis to hotels, organizations, and retail stores for controlling customer traffic and occupancy during the SARS-CoV-2 reopening and recovery period.

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On the whole, the rising focus of enterprises on accessing dynamic location data comprising information regarding customer whereabouts, frequency of visits, their preferences, and the duration of their stay will positively impact North America location analytics market share through the forecast period.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Research methodology

1.2    List of data sources

1.2.1    Secondary

1.2.2    Primary

Chapter 2   Market Snapshot

2.1    North America location analytics market snapshot

Chapter 3   North America Location Analytics Industry Insights

3.1    Industry coverage

3.2    Industry size, 2015 – 2026

3.3    Impact of COVID-19 pandemic

3.4    Value chain analysis

3.4.1    Company product snapshot

3.5    Innovation landscape

3.6    Regulatory norms & directives

3.7    Drivers & restraints

3.7.1    Market drivers

3.7.2    Market restraints

3.8    Industry analysis - Porter's

3.9    Competitive benchmarking, 2019

3.9.1    Strategy dashboard

3.10    PEST analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1709/north-america-location-analytics-market

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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