Location Analytics Market Size, Share, Growth Analysis, By Component(Software, Services), By Location Type(Indoor, Outdoor), By Deployment Mode(On-premise, Cloud), By Application(Remote Monitoring, Sales & Marketing Optimization, Asset Management, Risk Management), By Industry Vertical(BFSI, Retail & Consumer Goods, Healthcare, Hospitality), By Region - Industry Forecast 2024-2031

North America held the dominant share in the location analytics market and is likely to continue so during the forecast period as well. The increasing demand is driving the market expansion for position intelligence and geospatial analytics solutions among many industrial verticals, such as government, defense, retail, and others. For instance, in March 2020, the U.S. Government implemented analytics tools in collaboration with Google LLC, Meta Platforms, Inc. (Facebook), and other digital businesses and medical specialists. To curb the virus's spread, this has enabled organizations to monitor people's social distancing behavior and use location data that they have obtained from individuals. 

During the projection period, Asia Pacific is expected to have the fastest CAGR. This is attributed to the exponential consumption of location intelligence solutions for public safety by governments in the region. For instance, Quadrant.io, one of the world's leading location intelligence platforms, in June 2020 announced the APDA-Asia Pacific Data Alliance-comprising over 100 consulting, geospatial, and data analytics companies. The program decreased the hazards associated with the virus's spread by providing mobile location data to eminent companies, governments, and academic institutions.