MEA Location Analytics Market Size

MEA Location Analytics Market Analysis

The Middle East & African location analytics market will register a CAGR of 6.2% over the forecast period. The growing need for predictive analytics in modern-day business decision-making, consistent innovation in geospatial technologies, and rising usage of spatial data and analytics tools are factors that contribute to the growth of the location analytics market.

• The primary factors driving the growth of the market are the increased use of advanced location intelligence technologies such as Geographic Information System (GIS), Global Positioning System (GPS), and Remote Sensing (RS), as well as technological advancements in business intelligence and geospatial analytical tools, due to the rapid incorporation of location-based mapping technology in business intelligence systems and growing applications of location analytics in disaster management.
• Moreover, emerging technologies are expected to significantly drive the location analytics industry's growth in the coming years. 5G, artificial intelligence (AI), the Internet of Things (IoT), Big Data, and connected sensor devices are advanced technologies that have enabled real-time location data analytics for improved business performance.
• For comprehensive corporate planning, location analytics becomes a powerful analytical tool. New insights are produced by fusing location data with conventional relational data and data from reliable third parties. The Middle East & Africa retail market is starting to focus heavily on location analytics. Every time a customer or consumer enters the store following the last purchase till they leave, a piece of user data is created, and this number of merchants opens up daily.
• Smartphone adoption is exceptionally high in several nations, including the United Arab Emirates and Saudi Arabia. The location analytics market in this area is therefore anticipated to expand quickly. Wi-Fi Location Analysis Systems have been developed due to the expansion of all customer-facing sectors. Due to the system's open communication channels, customers can connect via Wi-Fi in their location, such as shopping malls.
• Consumer privacy considerations are essential when processing location data because numerous regulatory restrictions may make it impossible to get location data without the user's consent. Some geospatial analytics solutions require acquiring necessary location data, which some users may object to if they are concerned about the security of their location-based data.
• Due to the growing usage of location intelligence or analytics to better understand the effects of COVID-19 on consumer behavior and the economy, the COVID-19 outbreak does not affect the expansion of the location analytics business.