The world is a big place. It’s only going to get bigger.
Thanks to the location intelligence market we have a firmer handle on the dynamic nature of population growth. In just a few decades entire countries will be seeing social and economic shifts, meaning there’s a ticking clock for both people and businesses alike. This isn’t cause for alarm, but rather, a sign that technology is only getting more helpful by the minute. Demographic reporting tools and geospatial analysis are the key ingredient toward adapting to the future properly.
Let’s see what you can expect to see in the location intelligence market over the next few years.
We’ll first start off discussing where the world’s population will be over the coming years. According to geospatial data analysis and the aid of regularly updated studies it’s estimated the planet will see a 50% growth over the following four decades. That’s nearly nine billion to the six and a half billion we have now. Change will happen much sooner, however, with the a Eurostat study revealing some interesting developments headed for Europe. By the time 2030 comes around every 100 workers or so will have to support 40 people, be they family, significant others or children.
This leads us to the key function of the location intelligence market. It isn’t simply crunching numbers for the sake of it, but rather, providing the most accurate predictions possible to an inherently dynamic entity. A 2014 global business survey provided by the Dresner Advisory Services found more than half of its respondents across multiple industries stating location intelligence to be either critical to their business model or incredibly important. But how do we get such numbers in the first place? You can think technicians, photographers and programmers for that.
The U.S. Bureau Of Labor Statistics has anticipated steady growth in jobs that involve location intelligence between 2012 and 2022. The highest number demanded so far are geographers at 30%, cartographers and photogrammetrists at 20% and mapping technicians at 15%. When it comes to collecting, reporting and analyzing data, the right ration need to be measured in order to give meaning to such a massive figure. Google’s data experts have suggested 15% data capture, 20% reporting and 65% data analysis are reasonable.
The location intelligence market boasts some of the most advanced software yet seen in human history. As of today there are always 24 active GPS satellites circling the globe, with the highest average number remaining at 30. A GPS receiver can determine the current time within an astonishing 100 billionths of a second and each satellite will circle the world once every 12 hours. This provides a consistent, accurate and timely feedback loop to countless geospatial analysis professionals. This isn’t the full extent of marketing analysis services, however, and flexibility is key.
Back in 2011 the geospatial industry generated an astonishing $70 billion in revenue alongside an additional $1 trillion for the rest of the American economy. An additional report provided by MarketsandMarkets estimated the location intelligence market will grow from $27 billion to $72 billion in just a few years. That’s an annual growth rate almost unheard of. Geospatial mapping and spatial analysis makes sense of our massive, complex world and provides countless people with the information they need to make a meaningful decision. This ranges from companies that want to market to a wider audience and the individual who wants to consider a career in home care services.
Demographic reporting tools are only going to get more necessary from here. Thanks to the location intelligence market we’ll never be in the dark.