The global mobile location analytics market was valued at US$5.501 billion in 2017 and is projected to grow at a CAGR of 22.04% over the forecast period to reach US$18.171 billion by 2023. Mobile location analytics is one of the types of customer intelligence used for tracking smartphones and other internet capable computing devices. The growing smartphone penetration coupled with the increasing demand for mobile location insights, and technological advancements are the major drivers that will drive the growth of the global mobile location analytics market over the forecast period.
Growing digitalization and the rising investments in the communication industry will further provide an opportunity for the growth of the global mobile location analytics market in the coming years and beyond. However, there are concerns regarding consumer privacy which may hamper the market growth during the forecast period.
Global Mobile Location Analytics Market by Tool :
By tool, the global mobile location analytics market is segmented as reporting and visualization tool, geocoding and reverse geocoding tool, data integration and ETL tool, and thematic mapping and spatial analysis tool. Mobile Location Analytics (MLA) is gaining traction in industries such as retail owing to the increased usage of digital devices such as smartphones and tablets by the population. It has evolved as a way to gain insights into the in-store behavior of the customers by tracking the number, location, and pattern of smart mobile devices that enter and exit the store. In order to accomplish this, a number of tools are being utilized. Geocoding and reverse geocoding, and thematic mapping and spatial analysis tool hold a significant share in the market owing to the burgeoning trend of using digital maps so as to locate and analyze customers.
Geocoding And Reverse Geocoding :
The geocoding and reverse geocoding mobile location analytics market was valued at US$XX.XX billion in 2017 and is expected to grow at CAGR of XX.XX% over the forecast period to reach a market size of US$XX.XX billion in 2023. Rising propensity of industries such as retail towards MLA is driving the geocoding and reverse geocoding tools so as to gain competitive edge. Cut throat competition in different markets is the key driving factor that is boosting the demand for mobile location analytics. With an exponential boom in smart devices, many businesses are using geocoding to perform specific market/regional data analysis for the of making sound business decisions, also known as geomarketing. It is steadily being used by the businesses as to target specific demographics and to customize a push marketing message to a specific audience. we as market research firm deliver quality reports with client satisfaction.
Global Mobile Location Analytics Market By Geography:
By geography, the global mobile location analytics market is segmented as North America, South America, Europe, Middle East and Africa and Asia Pacific.
The proliferation of smartphones and the growing focus on digitalizing will drive the Asia Pacific mobile location analytics market while the growing amount of time spent by individuals on smartphone and tablets in Europe and North America is leading to advertisers increasingly utilizing location analytics services to enable audience-based advertisement.
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