North America Location Analytics Market Size

North America Location Analytics Market Analysis

The North America Location Analytics Market size is estimated at USD 4.49 billion in 2024, and is expected to reach USD 10.53 billion by 2029, growing at a CAGR of 16.32% during the forecast period (2024-2029).

Geospatial services have been increasingly favored by different sectors, including retail, government, health care, and industry, over the last few years. Cloud computing (IoT), blockchain, and artificial intelligence are expanding the applications of location analytics and, as a result, driving the market.

• The market is significantly driven by the GPS (Global Positioning System) practices in smartphones, vehicles, and other portable devices. Mobile positioning combined with satellite-based GPS is the most rapidly developing method of positioning. The practical accuracy ranges from 50 to 1000 m for methods such as global cell identity CGICTA and an enhanced observed difference of time, EGOTD. These technologies provide end-users with opportunities based on the accuracy required for specific application location identification.
• The United States boasts various GPS infrastructures, such as satellites, equipment manufacturers, and supportive research funding, combined with government support to boost the technology's penetration and accuracy influences market growth. Instead, the US Federal Communication Commission waived rules to allow devices in the country to receive Galileo Global Navigation System signals; this influenced the GNSS chip makers in the country to incorporate the capability, thus increasing the accuracy.
• Moreover, location intelligence allows for the continuous monitoring and management of inventory, energy consumption, and temperature in a facility by remote control. In its indoor and outdoor environment, it may offer management visibility and monitoring of the workforce. Location intelligence allows companies to quantify room occupancy, assess maintenance cycles for assets, control employees' activities, and operate their personnel remotely.
• Consumers are reluctant to invest in technologies that could result in Personal Information and Safety Risks, as they do not want to take any risks. This factor also hampers the growth of the market. In order to ensure the safety and confidentiality of customers' data, it is therefore necessary that manufacturers and service providers adopt appropriate security measures.
• The COVID-19 pandemic resulted in increased adoption of location information solutions for managing a changing business landscape, as businesses help to analyze, map, and share data related to their customers' locations.