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Market Research Report
Product code
1054760
Latin America Location Analytics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027) |
Latin America Location Analytics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027) |
Published: January 17, 2022
Mordor Intelligence Pvt Ltd
Content info: 120 Pages
Delivery time: 2-3 business days
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Location analysis is becoming one of the main segments of market research. The location analytics market of Latin America is expected to grow at 5.8% during the forecast period (2021- 2026).
Latin America boasts a vibrant business environment shaped by several factors such as a young population, abundant resources, a growing consumer base, strong trade relationships, and a growing startup space. With twice the population of the United States and about half of China's GDP, the region offers limitless opportunities for businesses to overcome barriers.
While the COVID-19 pandemic has caused tremendous pain in the region, it has accelerated the digitization and adoption of new technologies by organizations across Latin America. The exponential growth is that mobile devices are the primary means of internet access in Latin America, providing people living in rural areas a portable way to connect to the internet.
In recent years, the boom in social media and the rise of messaging platforms have increased the demand for optimized mobile services. Mobile penetrates Latin America, fostering innovative applications that enhance social mobility, financial control, access to foreign markets, and social development. Differences in maturity levels and local regulations define the mobile landscape in individual countries but tend to be notable across regions.
Some economic, demographic, and natural resource factors are driving the rise of Latin America as multinationals formulate their real estate portfolio strategies. Facility management firms such as Newmark Knight Frank's Latin America Global Corporate Services help multinational organizations identify and evaluate corporate real estate opportunities in the region and explore local markets and cultures.
Technologies such as Big Data play a vital role in location analytics in the region. Location intelligence reveals often-overlooked relationships between big data sets and turns these insights into valuable business intelligence. Also, it helps provide critical business decisions and helps in the development of smart cities.
Some location analytics techniques include economic, demographic, and natural resource factors that can help Latin America raise awareness of multinationals' real estate portfolio strategies. Factors contributing to its potential include numerous emerging economies, a growing middle class, a vibrant labor market, commercial real estate, and a suppressed demand for luxury industrial space.
Further, in 2022 the country is expected to see a surge in digital adoption due to increasing urbanization in the country and shifting consumer expectations for e-commerce, addressing sustainability challenges, small business use of social media, and the rise of retail media networks in Latin America such as IoT, location data, location analytics, big data.
Over the past decade, Brazil has implemented an ambitious investment program to attract private investment in infrastructure and improve the efficiency of preparation and management of infrastructure projects.
According to the Global Infrastructure Center, between 2020 and 2022, the Brazilian government expects more than $44 billion of infrastructure projects to be auctioned off as the Brazilian government seeks private participation in successful projects that meet Brazil's sustainability goals.
Further, the U.S. Department of Commerce monitored Brazil's intelligent cities, identifying opportunities for U.S. businesses to participate in the annual Connected Smart Cities (CSC) event in Sao Paulo in 2021. U.S. companies were connected to a number of municipalities through webinars to learn more about the progress of smart city technology and current opportunities in Brazil.
The Latin America Location Analytics is fragmented with the presence of key plater in the industry such as Cisco Systems, Microsoft Corporation, Oracle Corporation, SAP SE and Tibco Software Inc., and more. These companies are making investments in various applications to increase revenue and also to innovate new technologies in the region.