The location analytics market is expected to increase from USD 15.7 billion in 2021 to 29.9 USD billion in 2026, according to a report from MarketsandMarkets. From smart cities’ planning to navigating the post-pandemic world, location intelligence will play a vital role in the coming years.
Let’s look at some of the key trends that will shape the location industry in 2022.
1) Real-time data availability
Faster 5G connectivity and swiftly increasing bandwidth has paved the way for real-time data that can be derived from mobile phones. Moreover, data from social media posts is also linked to the location which offers deeper contextual real-time insights. Such availability of real-time data is resulting in critical location intelligence use cases.
2) Increase in new use cases
Location intelligence application is no longer restricted to just businesses and newer industries, governments, and welfare organizations are seeing deeper real-world use cases for the same.
The COVID-19 pandemic played a key role in resulting in new innovations. More and more organizations are exploring and developing innovative use cases to leverage location intelligence for improving their business processes. Retailers use location intelligence technologies to understand consumers’ buying journey thereby improving their engagement for effective targeting.
3) Managing the COVID-19 crisis
4) Planning smart cities
5) Personalized customer experience
6) Indoor mapping
7) Disaster management
Click here to learn more about how location intelligence can enhance your business processes and boost customer experience.