Network and Location Analytics Market : A Look at Industry Dynamics, Research Methodology, Trends, Competitive Analysis

WILMINGTON, DE, UNITED STATES, October 8, 2024 /EINPresswire.com/ -- According to the report, the global network & location analytics market size generated $19 billion in 2021, and is estimated to reach $89.7 billion by 2031, witnessing a CAGR of 17% from 2022 to 2031.

Surge in penetration of smartphones, an upsurge in the usage of GPS-enabled devices, increased use of spatial data and analytical tools, rise in adoption of networks, and the COVID-19 pandemic which increased the use of location-based services drive the growth of the global network & location analytics market. However, consent and privacy concerns hamper the global market growth. On the other hand, the emergence of advanced technologies in the field of GIS, and the integration of AI with location analytics is anticipated to present new growth opportunities for the global market in the coming years.

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Network and location analytics are collaborating to identify trends and patterns by analysis of network data and statistics. These also involve a network operation or a set of operations. For example, if a network operator finds a congestion problem in a certain area of the network, traffic can be routed through a different part of the network to meet service performance objectives. Furthermore, vendors are augmenting traditional analytics with automation and artificial intelligence technologies to enable the next generation of highly intelligent networks. This is expected to drive the network and location analytics industry growth.

Moreover, the growth of the global network and location analytics market size is primarily driven by the proliferation of smartphones and upsurge in usage of GPS-enabled devices. In addition, factors such as growing usage of spatial data and analytical tools, increasing adoption of networks, and further, the COVID-19 epidemic increased the use of location-based services, which fueled the market expansion. However, consent and privacy concerns may hamper the market growth to some extent. On the other hand, the emergence of advanced technologies in the field of GIS, and the integration of AI with location analytics is expected to provide lucrative opportunities for network and location and analytics industry growth during the forecast period.

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Based on region, North America was the largest market in 2021, capturing two-fifths of the global network & location analytics market share. The increase in location-based services applications in defense and transportation sectors drive the growth of the market in the region. However, the Asia-Pacific market is expected to achieve the highest revenue and manifest the fastest CAGR of 19.7% during the forecast period. Asia-Pacific countries are expected to adopt network and location analytics solutions at a high rate as the remote sensing industry in this region has numerous growth opportunities, owing to various geographical needs.

Leading Market Players

Oracle Corporation

IBM Corporation

Microsoft Corporation

Esri

SAS Institute, Inc.

Alteryx, Inc.

Hexagon AB

Cisco System, Inc.

SAP SE

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