Market Trends of Latin America Location Analytics Industry
Technological Advances in Various Industries Play a Vital Role
- The extent of AI research in Latin America has increased in recent years, and data-driven business initiatives will be one of the top trends in years to come. These businesses will prioritize analytics, AI and ML, and data management. Cloud Management companies like Snowflake are helping businesses in Brazil to drive digital transformation for their projects.
- For instance, Predict Data-driven prepared an analysis on foot traffic and point of interest of consumers visiting the shopping mall in Guatemala. Using location analytics, the company was able to visualize the in-store mobility patterns of the shoppers, like the distribution of visits within the mall, the dispersion of consumers, and more.
- Moreover, some of the world's most significant biodiversity hotspots are found in Latin America. Geospatial technology was used to explore these areas to enrich the quality of biodiversity conservation in Latin America.
- In September 2022, Sentinal-2 remote sensing images and OpenStreetMap were to produce the first 10 m resolution UGS (Urban Green Space) map for the main urban clusters across 371 major Latin American cities. This was expected to help provide residents with various ecosystem services, such as climate regulation, buffering environmental hazards, and improving physical and psychological health.
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Brazil to Generate Significant Demand in Location Analytics Market
- The unprecedented demand for housing in Brazil is driving the civil construction market. The Brazilian Association of Property Developers revealed that the country has a deficit of 7.8 million homes. Also, 11.5 million new properties will be required over the next ten years. This expansion in construction will require geospatial data for identifying the neighborhoods and territories with the highest degree of investment potential.
- Moreover, location analytics can help to increase GDP growth by providing valuable information about the city's economic landscape. For instance, São Paulo produces nearly one-third of Brazil's GDP. To sustain economic growth Investment Promotion Agency for the State of São Paulo (InvestSP) adopted Location Intelligence to help entrepreneurs identify the best locations in the state to invest.
- Likewise, in June 2022, Agrotools raised 21 million USD from various investors. Agrotoola provides intelligence and technology-based solutions to agribusiness companies. Agrotools has analyzed over 4.5 million rural territories in Brazil to manage operational risks and opportunities focused on rural regions.
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