Latin America Location Analytics Market Size

Latin America Location Analytics Market Analysis

The location analytics market of Latin America is valued at 2.10 billion in the current year. It is expected to register a CAGR of 7.99% during the forecast period to become 3.09 billion by the next five years. As the digitalization of information has accelerated, yielding abundant data, corporations have discovered that nearly every dataset contains or can be explained using geographic insight and relationships. This observation has made the new generation understand business and location to bring a constellation of highly desired traits to their companies, including the ability to use data to create strategic stories about people and places, brands, and markets.

• Organizations are using it to promote safety in their environments and develop connected experiences encompassing both physical and digital presence. It helps users create content, such as posting real-time statistics on digital signage, based on insights gathered or pushing custom content to a mobile device.
• Moreover, the tourism sector will promote growth in Location Analytics Market. Geo Analytics Companies can use location analytics to integrate, store and manipulate spatial and non-spatial information. Cartographic information for tourists, which cannot be found on the Web sites, may become a popular application of GIS.
• However, a lack of skilled workers who know how to work with geospatial data may act as a restraining factor for the market. Many data scientists and GIS analysts spend up to 90% of their time cleaning data before using it. These challenges can slow down the industry's end-user application of Location Analytics.
• On the contrary, the exponential growth in mobile devices and increasing internet usage in Latin America was observed during COVID-19. Rapid digitization and the adoption of new technologies by organizations across Latin America turned the country's economic outlook.