APAC Location Analytics Market Size

APAC Location Analytics Market Analysis

The Asia Pacific Location Analytics market is expected to register a CAGR of 18.21% during the forecast period.

• There is cutthroat competition between the retailers to earn more than their rivals. Smartphones have taken the world by storm. The boom in Asia-Pacific markets has been enormous and is a huge market for every smartphone company. There is a huge demand in both the low-cost and high-end smartphone segments. The combination of growth in both has helped the location analytics market in this region.
• Location analytics is emerging as one of the major segments in the field of market research. As more retail stores open every day, a lot of user data is created every time a consumer or customer walks into a store and stays there until he or she leaves after making a purchase.
• These data points are now being analyzed with different analytical solutions. Location-based analytics aids in contextualizing location-centric data in order to derive meaningful insights and inform strategic business decisions.This data could enhance the customer experience and give us a competitive edge over other market players. By leveraging smartphones with wi-fi networks, location analytics vendors have enabled location analytics solutions to run at a minimal cost.
• The rise in all customer-facing industries has resulted in the introduction of the wi-fi location analytics (LBS) system, which allows customers to connect through on-site wi-fi, opening a direct channel of communication that enables retail centers and similar others to better understand their consumers and accordingly deliver products that meet their needs.This method helps maximize retail output and services by understanding the consumer's needs.
• Different analytics solutions, like web analytics, are popular in the market currently. Location-based analytics will become the need of the hour for designing and measuring the experiences of customers. Shortly, location analytics solutions will become commonplace in the marketplace.

The pandemic significantly impacted various businesses worldwide, with countries such as India and China being adversely affected by the outbreak of the virus. As a result, smartphone usage increased significantly globally, and location analysis solutions increased. The Government of India has greatly benefited from using it, as it has assisted authorities in conducting effective contact tracing for people who met COVID-positive patients.